The Federal Deposit Insurance Corporation, et al v. Killinger et al, No. 2:2011cv00459 - Document 86 (W.D. Wash. 2011)

Court Description: STIPULATION AND ORDER re 85 Stipulation to extend time to perfect settlement and submit request for entry of final judgment filed by David C Schneider, Esther T Rotella, Linda C Killinger, Stephen J Rotella, The Federal Deposit Insurance Corporation, Kerry K Killinger by Judge Marsha J. Pechman. (MD) (Entered: 12/27/2011)

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The Federal Deposit Insurance Corporation, et al v. Killinger et al Doc. 86 The Honorable Marsha J. Pechman 1 2 3 4 5 6 UNITED STATES DISTRICT COURT WESTERN DISTRICT OF WASHINGTON AT SEATTLE 7 8 9 10 THE FEDERAL DEPOSIT INSURANCE CORPORATION, AS RECEIVER OF 11 WASHINGTON MUTUAL BANK, Plaintiff, 12 13 vs. 14 KERRY K. KILLINGER, STEPHEN J. ROTELLA, DAVID C. SCHNEIDER, 15 LINDA C. KILLINGER, and ESTHER T. ROTELLA, 16 Defendants. 17 ) ) ) ) ) ) ) ) ) ) ) ) ) ) ) ) Case No. 2:11-cv-00459 STIPULATION AND ORDER EXTENDING TIME TO PERFECT SETTLEMENT AND SUBMIT REQUEST FOR ENTRY OF FINAL JUDGMENT 18 19 20 21 22 23 24 25 26 27 STIPULATION AND [PROPOSED] ORDER EXTENDING TIME TO PERFECT SETTLEMENT AND SUBMIT REQUEST FOR ENTRY OF FINAL JUDGMENT CASE NO. 2:11-CV-00459 SIMPSON THACHER & BARTLETT LLP 425 Lexington Avenue New York, New York 10017 -and1999 Avenue of the Stars, 29th Floor Los Angeles, California 90067 DAVIS WRIGHT TREMAINE LLP 1201 Third Avenue, Suite 2200 Seattle, Washington 98101 Tel.: (206) 622-3150 Fax: (206) 757-7700 Dockets.Justia.com 1 Plaintiff Federal Deposit Insurance Corporation, as Receiver of Washington Mutual Bank 2 (“FDIC”), and Defendants Kerry K. Killinger, Linda C. Killinger, Stephen J. Rotella, David C. 3 Schneider, and Esther T. Rotella (“Defendants”), through their respective counsel, submit this 4 Stipulation and [Proposed] Order to extend the deadlines for perfecting the parties’ settlement 5 and submitting a request for entry of final judgment pursuant to the Court’s Order Vacating Case 6 Deadlines (Dkt. No. 84). RECITALS 7 8 1. On October 27, 2011, the parties notified the Court of a pending settlement of this 9 case subject to certain conditions. That same day, the Court issued an Order Vacating Deadlines 10 (Dkt. No. 84), which vacated the then-current case schedule, struck all pending deadlines and 11 motions, granted the parties 60 days to perfect their settlement, and ordered the parties to submit 12 their request for entry of final judgment within 60 days of entry of this order. 13 2. The FDIC and Defendants have now executed a Settlement and Release 14 Agreement. 15 3. Pursuant to that Settlement and Release Agreement, a motion will be made in In 16 re Washington Mutual, Inc., No. 08-12229, United States Bankruptcy Court, District of 17 Delaware, for an order authorizing the insurance companies to make the insurance payment 18 pursuant to the settlement agreement and discharging the insurers from liability (“Bankruptcy 19 Distribution Order”). 20 4. The Bankruptcy Distribution Order is a condition precedent to the settlement 21 being finalized. 22 5. The parties anticipate filing a motion seeking the Bankruptcy Distribution Order 23 before year-end to be heard by the Bankruptcy Court in January 2012. STIPULATION 24 25 IT IS HEREBY STIPULATED AND AGREED, by and between counsel for the FDIC 26 and Defendants, that the parties shall have until February 24, 2012 to perfect their settlement and 27 submit their request for entry of final judgment. STIPULATION AND [PROPOSED] ORDER EXTENDING TIME TO PERFECT SETTLEMENT AND SUBMIT REQUEST FOR ENTRY OF FINAL JUDGMENT —PAGE 1 CASE NO. 2:11-CV-00459 SIMPSON THACHER & BARTLETT LLP 425 Lexington Avenue New York, New York 10017 -and1999 Avenue of the Stars, 29th Floor Los Angeles, California 90067 DAVIS WRIGHT TREMAINE LLP 1201 Third Avenue, Suite 2200 Seattle, Washington 98101 Tel.: (206) 622-3150 Fax: (206) 757-7700 1 IT IS SO STIPULATED. 2 DATED this 23rd day of December, 2011. 3 REED SMITH LLP DAVIS WRIGHT TREMAINE LLP 4 By: /s/ Barry Rosen Barry Rosen (pro hac vice) Henry Pietrkowski (pro hac vice) 6 10 South Wacker Drive Suite 4000 7 Chicago, IL 60606 Tel: (312) 207-1000 8 E-mail: brosen@reedsmith.com By: /s/ Steven P. Caplow Stephen M. Rummage, WSBA #11168 Steven P. Caplow, WSBA #19843 1201 Third Avenue, Suite 2200 Seattle, Washington 98101-3045 Tel.: (206) 757-8108 Fax: (206) 757-7136 E-mail: steverummage@dwt.com stevencaplow@dwt.com 5 9 10 KARR TUTTLE CAMPBELL Bruce E. Larson, WSBA # 11 Walter E. Barton, WSBA #26408 Dennis H. Walters, WSBA # 12 1201 Third Avenue, Suite 2900 Seattle, WA 98101 13 Telephone: (206) 223-1313 14 Leonard J. DePasquale (admitted pro hac vice) Supervisory Counsel, 15 Federal Deposit Insurance Corporation 3501 North Fairfax Drive, VS-B-7058 16 Arlington, VA 22226 (703) 562-2063 17 18 Attorneys for the Federal Deposit Insurance Corporation 19 SIMPSON THACHER & BARTLETT LLP Barry R. Ostrager (pro hac vice) Mary Kay Vyskocil (pro hac vice) 425 Lexington Avenue New York, New York 10017 Tel.: (212) 455-2000 Fax: (212) 455-2502 Email: bostrager@stblaw.com mvyskocil@stblaw.com -andDeborah L. Stein (pro hac vice) 1999 Avenue of the Stars, 29th Floor Los Angeles, California 90067 Tel.: (310) 407-7500 Fax: (310) 407-7502 Email: dstein@stblaw.com Attorneys for Stephen J. Rotella, David C. Schneider, and Esther T. Rotella 20 WILSON SONSINI GOODRICH & ROSATI 21 22 By: /s/ Barry M. Kaplan Barry M. Kaplan, WSBA #8661 701 Fifth Avenue, Suite 5100 Seattle, WA 98104-7036 Tel.: (206) 883-2500 Fax: (206) 883-2699 E-mail: bkaplan@wsgr.com 23 24 25 26 Attorneys for Kerry and Linda Killinger 27 STIPULATION AND [PROPOSED] ORDER EXTENDING TIME TO PERFECT SETTLEMENT AND SUBMIT REQUEST FOR ENTRY OF FINAL JUDGMENT —PAGE 2 CASE NO. 2:11-CV-00459 SIMPSON THACHER & BARTLETT LLP 425 Lexington Avenue New York, New York 10017 -and1999 Avenue of the Stars, 29th Floor Los Angeles, California 90067 DAVIS WRIGHT TREMAINE LLP 1201 Third Avenue, Suite 2200 Seattle, Washington 98101 Tel.: (206) 622-3150 Fax: (206) 757-7700 [PROPOSED] ORDER 1 2 Based on the foregoing Stipulation, 3 IT IS HEREBY ORDERED that the parties shall have until February 24, 2012 to perfect 4 their settlement and submit their request for entry of final judgment. 5 6 DATED this 27th day of December, 2011. 7 8 A 9 Marsha J. Pechman United States District Judge 10 11 12 13 14 15 16 17 18 19 20 Presented by: DAVIS WRIGHT TREMAINE LLP By: /s/ Steven P. Caplow Stephen M. Rummage, WSBA #11168 Steven P. Caplow, WSBA #19843 1201 Third Avenue, Suite 2200 Seattle, Washington 98101-3045 Tel.: (206) 757-8108 Fax: (206) 757-7136 E-mail: steverummage@dwt.com stevencaplow@dwt.com 21 22 SIMPSON THACHER & BARTLETT LLP Barry R. Ostrager (pro hac vice) Mary Kay Vyskocil (pro hac vice) 425 Lexington Avenue New York, New York 10017 Tel.: (212) 455-2000 Fax: (212) 455-2502 Email: bostrager@stblaw.com mvyskocil@stblaw.com -andDeborah L. Stein (pro hac vice) 1999 Avenue of the Stars, 29th Floor Los Angeles, California 90067 Tel.: (310) 407-7500 Fax: (310) 407-7502 Email: dstein@stblaw.com 23 24 Attorneys for Stephen J. Rotella, David C. Schneider, and Esther T. Rotella 25 26 27 CERTIFICATE OF SERVICE FOR STIPULATION AND [PROPOSED] ORDER EXTENDING TIME TO PERFECT SETTLEMENT AND SUBMIT REQUEST FOR ENTRY OF FINAL JUDGMENT CASE NO. 2:11-CV-00459 SIMPSON THACHER & BARTLETT LLP 425 Lexington Avenue New York, New York 10017 -and1999 Avenue of the Stars, 29th Floor Los Angeles, California 90067 DAVIS WRIGHT TREMAINE LLP 1201 Third Avenue, Suite 2200 Seattle, Washington 98101 Tel.: (206) 622-3150 Fax: (206) 757-7700

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