New Bankruptcy Opinion: IN RE NW VALLEY HOLDINGS LLC – Dist. Court, D. Nevada, 2016

In re: NW VALLEY HOLDINGS LLC, Debtor.

KYLE ENTITY HOLDINGS, LLC Appellant,

v.

U.S. BANK NATIONAL ASSOCIATION AS THE PLAN ADMINISTRATOR FOR THE KHI POST-CONSUMMATION TRUST AND THE LIQUIDATION TRUST ADMINISTRATOR FOR KHI LIQUIDATION TRUST, Appellee.

Case No. 2:16-cv-00168-RFB, Appeal from Case No. BK-S-15-10116-abl.

United States District Court, D. Nevada.

April 26, 2016.

STIPULATION AND ORDER FOR EXTENSION OF TIME TO FILE APPELLATE BRIEFS [FIRST EXTENSION REQUESTED]

RICHARD F. BOULWARE, II, District Judge.

Kyle Entity Holdings, LLC (“KEH”), by and through its counsel, the law firm of Garman Turner Gordon, LLP, and U.S. Bank National Association as the Plan Administrator for the KHI Post-Consummation Trust and the Liquidation Trust Administrator for the KHI Liquidation Trust (collectively, the “Kimball Hill Trusts,” and together with KEH, the “Parties”), by and though their counsel, Shaw Fishman Glantz & Towbin, LLC and the Law Office of Brian D. Shapiro, LLC, hereby stipulate as follows:

1. On January 25, 2016, KEH filed its Notice of Appeal [ECF No. 271 in BK-S-15-10116-abl] to the Order on Objection to Claim [ECF No. 169 in BK-S-15-10116-abl] entered by the United States Bankruptcy Court for the District of Nevada (the “Bankruptcy Court”) on August 5, 2015, and the Order on Motion to Amend or Set Aside Order on Objection to Claim [ECF No. 257 in BK-S-15-10116-abl] entered by the Bankruptcy Court on January 11, 2016, thereby commencing the above-captioned appeal (the “Appeal”).

2. On January 25, 2016, KEH also filed its Notice of Election to Have Appeal Heard by the United States District Court Pursuant to 28 U.S.C. § 158(c)(1)(A) [ECF No. 273 in BK-S-15-10116-abl].

3. This Court entered a Minute Order in Chambers [ECF No. 5] on April 12, 2016, which provided that KEH is required to file its opening brief on or before April 29, 2016, the Kimball Hill Trusts are required to file their answering brief on or before May 16, 2016, and KEH is required to file its reply brief on or before June 2, 2016 (collectively, the “Briefing Deadlines”). [1]

4. The Parties are engaged in settlement discussions and have met and conferred and, subject to approval by this Court, have agreed to a 60-day extension of the Briefing Deadlines to provide the Parties additional time to seek to resolve the Appeal consensually.

5. This is the first requested extension.

6. The Parties make this request in good faith and not for the purposes of delay.

IT IS SO ORDERED.

[1] The debtor, NW Valley Holdings LLC, is not a party to the Appeal.

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