United States District Court, E.D. Louisiana
EMIII HOLDINGS, LLC, et al.
FIRST NBC BANK, et al.
NANNETTE JOLIVETTE BROWN UNITED STATES DISTRICT JUDGE.
the Court is the Federal Deposit Insurance Corporation's
(acting as receiver for First NBC Bank, the
“FDIC-R”) “Motion to Stay Action Pending
Exhaustion of Administrative Remedies.” The FDIC-R moves
the Court to stay the present action for 180 days, pending
parties' exhaustion of their administrative remedies as
set forth in section 1821 of the Financial Institutions
Reform, Recovery, and Enforcement Act of 1989
(“FIRREA”), or, in the alternative, for a stay of
90 days as provided for by the statute. The motion was
filed on June 19, 2017, and set for submission on July 5,
2017. Pursuant to Local Rule 7.5, any opposition
to a motion must be filed eight days before the noticed
submission date. Accordingly, any opposition to the pending
motion was due no later than June 27, 2017. Plaintiffs have
filed no opposition to the motion, and therefore
Defendants' motion is deemed to be unopposed. This Court
has authority to grant an unopposed motion, although it is
not required to do so.
considered the unopposed motion, the memorandum in support,
and the applicable law, the Court will grant a stay of this
case for a period of 180 days and administratively close it
until that time.
U.S.C. § 1821(d)(12)(A) provides that “[a]fter the
appointment of a conservator or receiver for an insured
depository institution, the conservator or receiver may
request a stay for a period not to exceed . . . 90 days, in
the case of any receiver, in any judicial action or
proceeding to which such institution is or becomes a
party.” 12 U.S.C. § 1821(d)(12)(B) further
provides that “the court shall grant such stay as to
all parties.” Therefore, having requested it, the FDIC-R
is entitled to a 90 day stay.
the FDIC-R requests a discretionary stay of 180 days pending
all parties' exhaustion of their administrative remedies
pursuant to FIRREA. Plaintiffs do not oppose the request. A
district court has the inherent power to “control the
disposition of the causes on its docket with economy of time
and effort for itself, for counsel, and for
litigants.” This authority includes the district
court's wide discretion to grant a stay in a pending
matter. Furthermore, no part of FIRREA prohibits
the Court from discretionarily granting a stay in excess of
90 days. Indeed, “[a] number of courts have held that
litigation may be stayed during such portion of the
receiver's 180-day period as remains at the time of the
application for stay.”
order to allow compliance with the mandatory review process
under FIRREA, the Court, in its discretion, will grant a stay
of this case for a period of 180 days and administratively
close it until that time. Accordingly, IT IS HEREBY
ORDERED that Federal Deposit Insurance
Corporation's Motion to Stay Action Pending Exhaustion of
Administrative Remedies is GRANTED.
IS FURTHER ORDERED that this matter is
STAYED and ADMINISTRATIVELY
CLOSED for a period of 180 days. The Clerk of Court
shall mark this action closed for statistical purposes. The
Court shall retain jurisdiction and the case shall be
restored to the trial docket upon motion of a party at the
expiration of 180 days from the date of this order.
 Rec. Doc. 3.