Case: 16-50644-btb
Chapter 15
Reza Zandian debtor
Hearing held on 06/10/2020 at 2:00 PM.
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 3:40 minutes. JM
The Court: Good afternoon, please be seated. The first thing we have on the 2 o’clock calendar is Patrick Canet and Jazi Zandian. Case number 16-50644. Appearances, please.
Mr. Holley: Your Honor, this is Richard Holley on behalf of Ray Koroghli, K-O-R-O-G-H-L-I and his Trust, as well as Fred Sadri, S-A-D-R-I.
The Court: Okay, go ahead.
Mr. Francis: Good afternoon, Your Honor. This is Matthew Francis on behalf of Mr. Margolin.
The Court: So where are we?
Mr. Holley: Your Honor, by way of status update, Your Honor, you may recall some time ago Mr. Margolin filed a Motion To Dismiss, which was opposed by our clients, Misters Koroghli and Sadri. The Court granted the Motion To Dismiss and took under advisement the issue about whether the Interlocutory Order concerning the Sheriff's sale of three parcels of real property should be preserved and maintained, not withstanding the dismissal of the case. That prompted the parties to engage in settlement discussions, which we have been doing now for quite some time.
Our respective clients are somewhat elderly, and so it's taken some time for us to get through communications. But Your Honor, we have a settlement in principle that Mr. Francis is going to document in a settlement agreement. And in summary, that settlement will address the Interlocutory issue and result in an order being entered, dismissing the bankruptcy case, as well as two adversary proceedings that are pending in the bankruptcy case. One of those adversary proceedings is the adversary from which the interlocutory order arose regarding the Sheriff's sale. And the other adversary proceeding is one that was initiated by Mr. Hartman on behalf of Mr. Canet to sell certain assets of the estate. And so we would request Your Honor, if it's acceptable with the Court's calendar, to give us an additional three week continuance on status, during which time we will finalize the settlement, and then submit the appropriate orders to the Court for dismissal of the case and the adversaries.
The Court: Okay. Is that acceptable to everyone who's on the phone?
Mr. Francis: This is Matthew Francis, Your Honor. That's acceptable and accurate to us.
The Court: Anyone else? (silence) Okay. What do we have in about three weeks?
The Clerk: Counsel, that puts us on Wednesday, July the First. Does that work for your calendar since it's so close to the holiday?
Mr. Holley: This is Richard Holley. That does work for my calendar.
Mr. Francis: This is Matthew Francis. That works for my calendar as well.
The Clerk: Okay. We'll set it at 10:00 AM.
The Court: Well, thank you for all your hard work.
Mr. Holley: Thank you, Your Honor. Thank you for your patience.
The Court: Certainly we'll see-
Mr. Francis: Thank you very much, Your Honor.
The Court: Thank you.
Mr. Holley: Take care.
The Court: Thank you. And that takes care of all three, does it not?
The Clerk: Yes, sir.
The Court: All right.