U.S. Bankruptcy Court For the District of Nevada
Case: 16-50644-btb
Chapter 15
Reza Zandian debtor
Hearing held on 02/18/2020 at 10:30 AM.
This is an unofficial transcript. I bought a copy of the recording of the hearing, converted it to mp3, and sent it to rev.com . I then spent some time correcting it. I believe this is an accurate transcript of the hearing. You can always listen to it yourself. It is only 5:57 minutes. JM
THE COURT: The first thing I have on the 10:30 calendar is Patrick Canet, 16-50644. Appearances please.
[Indistinguishable]
THE COURT: I'm sorry. In Las Vegas first.
MR. HOLLEY: Good morning, Your Honor. Richard Holley on behalf of the Sadri trust and the Koroghli trust.
THE COURT: In Reno, please.
MR. FRANCIS: Yes, Your Honor. Matthew Francis from the Brownstein Law Firm, on behalf of Jed Margolin.
MR. ZORIO: Arthur Zorio for Mr. Margolin, as well Your Honor.
THE COURT: So where are we?
MR. FRANCIS: We are continuing with our settlement negotiations, Your Honor.
THE COURT: Hey, that's good.
MR. FRANCIS: Yes and we're optimistic, but we have prepared a draft stipulation and order for two pending bankruptcy matters here, Your Honor, the 16 and the 44 cases, and I believe counsel for Sadri and Koroghli has contacted the court regarding those issues. So we are here to propose another continuance, Your Honor, so we can hopefully bring this thing to a close. I know there's also a status hearing or scheduling hearing in an 025 matter, which is the second adversary proceeding that was filed by Mr. Canet, by Mr. Hartman, who's not here today, and counsel for Sadri and Koroghli has been contact with Mr. Hartman, and it appears that he is going to dismiss that action pursuant to Rule 41 under a voluntary notice of dismissal, but counsel for Sadri and Koroghli, please correct me if I've misstated anything.
MR. HOLLEY: No, that is correct, Your Honor. With respect to that 025 matter, I communicated with Mr. Hartman this morning, and I think later today he will be uploading a notice of dismissal of that adversary proceeding, so that will go by the wayside. With respect to the other matters that we have before the Court, the representations are correct. We're trying to work out a resolution, Your Honor. We end up running into each other's scheduling conflicts, I'm afraid also particularly in the month of March, and so I think we would request, Your Honor is perhaps a hearing date sometime on the week of April 2nd, if that works for the Court's calendar.
THE COURT: I think it will, but let's check.
THE CLERK: I'm sorry, Your Honor, what was that date again?
THE COURT: April 2nd, one day past [crosstalk 00:02:54].
MR. HOLLEY: I'm sorry, no, the week of April sixth. I'm sorry.
THE COURT: Week of April sixth.
THE CLERK: Let me see what we have, Your Honor.
[Silence]
THE CLERK: Your Honor, we can do April the ninth at 10:00 AM.
THE COURT: Everybody check your calendars and see if that works.
MR. FRANCIS: That works for us, Your Honor.
MR. HOLLEY: And that also works for me, Your Honor.
THE COURT: Okay. Anything further?
MR. HOLLEY: Not at this time, Your Honor.
THE COURT: All right, we'll see you April 10, is that correct?
THE CLERK: April the ninth-
THE COURT: April the ninth.
THE CLERK: At 10:00 AM.
THE COURT: Don't show up on the tenth.
MR. FRANCIS: Thank you very much Your Honor.
THE COURT: Thank you guys very much.
MR. HOLLEY: Thank you, Your Honor.
[Silence]
THE COURT: Okay, and that's the second matter gets continued as well?
THE CLERK: Yes, Your Honor, all three matters.
THE COURT: All three matters?
THE CLERK: Yes.
THE COURT: That would make sense. Next we have John Ritter 16-10933. It's my understanding that the Ritter matters were all solved in a somewhat lengthy settlement conference with Judge Zive last week.
THE CLERK: I'm actually scheduled for 11:00 AM Your Honor. I do have Mr. Holley on the other side.
THE COURT: Oh, I'm sorry, Mr. Holley.
MR. HOLLEY: Yeah, we have that down. We had this scheduled for 11 o'clock Your Honor, so I don't know if Mr. Noll is going to be coming and if Mr. Schwartz is going to be coming at that point in time that yes, we had a two day mediation which [indistinguishable]. I'm pleased to report that we did resolve the pending adversary as well as the objection, well the nondischargeability complaint has been resolved. The objections to claims that were filed by the liquidating trustee had been resolved and then the liquidating trustee also filed a complaint for subordination, which has also been resolved.
MR. HOLLEY: There was also a corollary or companion case in state court which was also resolved, so it was a global settlement. We are preparing a settlement agreement. Judge Zive did put the terms of the settlement on the record when we were up there last week and I believe the trustee’s going to be filing a motion to approve the settlement because there will be a distribution out of the liquidating trust and so everybody felt like it would be most prudent to file a motion to approve the settlement and notice that absolute, if there are any objecting parties, they could come forward and assert their objections at a time of the hearing.
THE COURT: Okay. Thank you. So I'll see you in a few minutes and another feather in Judge Zive's settlement cap.
MR. HOLLEY: Yes, yes, indeed thank you.
THE COURT: All right, thank you. Anything further in the 10:30 calendar?
THE CLERK: No, Your Honor.
THE COURT: All right. We'll be in recess.