Tide Natural Gas Storage I, LP et al v. Falcon Gas Storage Company, Inc. et al, No. 2:2010cv05821 - Document 132 (S.D.N.Y. 2012)

Court Description: OPINION & ORDER re: 122 MOTION to Intervene filed by John M. Hopper. In light of this stay, the Court DENIES, without prejudice to refiling, the Hopper Parties motion to intervene. (Dkt. No. 122.) Furthermore, in light of the automatic stay prov isions of § 362(a), it is hereby ORDERED that this case is placed on suspense. Any party seeking to continue these proceedings should apply to the Bankruptcy Court for an order clarifying any applicability of the automatic stay and/or for relief from the stay. See 11 U.S.C. § 362(d). It is further ORDERED that the Plaintiffs and Defendants shall jointly file with the Court a written report of the status of this action every three (3) months, with the first such filing no later than October 15, 2012. (Signed by Judge Kimba M. Wood on 9/12/2012) (mro)

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UNITED STATES DISTRICT COURT SOUTHER~ DISTRICT OF NEW YORK -.--.--- ------------ TIDE ~ATURAL GAS STORAGE I, L.P. and TIDE NATURAL GAS STORAGE II, L.P., USDSSDNY DOCUMENT ELECTRONICALLY FILED DOC#: ) DATE FILED: q It .:v ...2//, PlaintitTs/Counterclaim Defendants, -against- Opinion & Order 10CV5821 FALCON GAS STORAGE COMPANY, INC.; DefendantiCounterc laim and Crossclaim Plaintiff, ARCAPITA BANK B.S.C.; and ARCAPIT A, INC.; Defendants, and HSBC BANK USA, ASSOCIA TION, ~A TIONAL Defendant/Crossclaim Defendant. KIMBA M. WOOD, U.S.D.1.: Plaintiffs/Counterclaim Defendants Tide Natural Gas Storage 1, L.P. and Tide }\;atural Gas Storage II, L.P. (collectively, "Tide") bring this action against Defendant/Counterciaim/Crossciaim Plaintiff Falcon Gas Storage Company, Inc. ("Falcon") and Defendants Arcapita Bank, B.S.c.(c) and Arcapita, Inc. (together, "Arcapita"). On April 12, 2012, John H. Hopper and other individuals and entities (collectively "the Hopper Parties") sought to intervene. (Dkt. No. 122.) Tide opposed the motion. (Dkt. No. 125.) On May 1, however, before the deadline for the Hopper -1 I - ! Parties to file their reply, Falcon filed a Suggestion of Bankruptcy. (Dkt. No.129.) On May 16, this Court entered a StipUlation and Order staying the proceedings pursuant to 11 U.S.c. § 362(a). (Dkt. No. 131.) In light of this stay, the Court DENIES, without prejudice to refiling, the Hopper Parties motion to intervene. (Dkt. No. 122.) Furthermore, in light of the automatic stay provisions of § 362(a), it is hereby ORDERED that this case is placed on suspense. Any party seeking to continue these proceedings should apply to the Bankruptcy Court for an order clarifying any applicability of the automatic stay and/or for relief from the stay. See 11 U.S.c. § 362(d). It is further ORDERED that the Plaintiffs and Defendants shall jointly file with the Court a written report of the status of this action every three (3) months, with the first such filing no later than October 15, 2012. SO ORDERED. DATED: New York, New York September ~, 2012 (~ yY1v~~ KIMBA M. WOOD United States District Judge -2

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