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Takiguchi v. MRI International, Inc., 2:13-cv-01183-HDM-NJK. (2018)

Court: District Court, D. Nevada Number: infdco20180807g03 Visitors: 20
Filed: Aug. 06, 2018
Latest Update: Aug. 06, 2018
Summary: STIPULATION AND ORDER RE LIQUIDATION OF LIFE INSURANCE POLICY AND PAYMENT OF FUNDS PURSUANT TO FINAL APPROVAL OF CLASS ACTION SETTLEMENT HOWARD D. McKIBBEN , District Judge . WHEREAS, plaintiffs Shige Takiguchi, et al. ("Plaintiffs") and (1) Junzo Suzuki, (2) Paul Suzuki, (3) Keiko Suzuki, (4) the Suzuki Enterprises, Inc. Profit Sharing Plan, (5) Catherine Suzuki, trustee of the Junzo Suzuki Irrevocable Trust, (6) Catherine Suzuki, trustee of the Keiko Suzuki Irrevocable Trust, (7) Catherin
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STIPULATION AND ORDER RE LIQUIDATION OF LIFE INSURANCE POLICY AND PAYMENT OF FUNDS PURSUANT TO FINAL APPROVAL OF CLASS ACTION SETTLEMENT

WHEREAS, plaintiffs Shige Takiguchi, et al. ("Plaintiffs") and (1) Junzo Suzuki, (2) Paul Suzuki, (3) Keiko Suzuki, (4) the Suzuki Enterprises, Inc. Profit Sharing Plan, (5) Catherine Suzuki, trustee of the Junzo Suzuki Irrevocable Trust, (6) Catherine Suzuki, trustee of the Keiko Suzuki Irrevocable Trust, (7) Catherine Suzuki, trustee of the Junzo Suzuki and Keiko Suzuki Irrevocable Trust, (8) Suzuki Enterprises, Inc., (9) Puuikena Investments LLP, (10) Catherine Mai Suzuki, trustee of the Catherine Suzuki Irrevocable Trust dated May 10, 2013, and (11) Paul Musashi Suzuki, trustee of the Paul Musashi Suzuki Irrevocable Trust dated May 10, 2013 (collectively, the "Suzuki Defendants") are collectively referred to herein as the "Parties";

WHEREAS, on December 11, 2017 the Suzuki Defendants entered into a Settlement Agreement with Plaintiffs by which they agreed to surrender and liquidate certain life insurance policies and pay the surrender value to Plaintiffs as consideration for resolution this action;

WHEREAS, on May 22, 2018 the Court granted final approval of the class action settlement with the Suzuki Defendants (Dkt. 840);

WHEREAS, pursuant to the Settlement Agreement, the life insurance policy, Pacific Guardian Life Policy No. 0007005184 owned by Keiko Suzuki shall be surrendered by the Suzuki Defendants and liquidated, with the entire surrender proceeds wire transferred to the Court appointed claims administrator, Heffler Claims Group.

WHEREAS, as of June 22, 2018, this Court's preliminary injunction order (Dkt. 183) freezing the assets of the Suzuki Defendants is permanently lifted and vacated;

NOW, therefore, the Parties stipulate as follows:

1. Pacific Guardian Life is ordered to process the surrender of Policy No. 0007005184 owned by Keiko Suzuki, and transfer the entire surrender value to the qualified settlement account designated by Heffler Claims Group; and 2. The Suzuki Defendants are ordered to reasonably cooperate with Plaintiffs and the life insurance policy issuers as necessary in effectuating the surrender of the above policies.

PURSUANT TO STIPULATION, IT IS SO ORDERED.

Source:  Leagle

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