On 07/10/2017 MARCO MACIAS filed a Property - Foreclosure lawsuit against QUICKFIX INVESTMENTS, LLC. This case was filed in Los Angeles County Superior Courts, Burbank Courthouse located in Los Angeles, California. The Judge overseeing this case is RALPH C. HOFER. The case status is Pending - Other Pending.
Pending - Other Pending
Los Angeles County Superior Courts
Los Angeles, California
RALPH C. HOFER
QUICKFIX INVESTMENTS LLC.
SBS TRUST DEED NETOWORK A CA. CORP.
TEST PARTY FOR TRUST CONVERSION
LAW OFFICE OF GILBERT SAUCEDO
COHEN EARLE H.
MARK D. ESTLE
BRUCE B. PALLER
PALLER BRUCE B.
PALLER BRUCE BARCLAY
10/2/2019: Request for Judicial Notice
2/13/2019: Order - ORDER AFTER EX PARTE APPLICATION TO CONFIRM CONTRACTURAL ARBITRATION AWARD AND DISSOLVE THE PRELIMINARY INJUNCTION
6/18/2019: Opposition - OPPOSITION TO MOTION TO EXONERATE BOND
6/18/2019: Declaration - DECLARATION OF DEFENDANT BLAKE WILSON-HAYDEN
6/3/2019: Motion re: - MOTION RE: NOTICE OF MOTION AND MOTION TO EXONERATE BOND
1/25/2018: Substitution of Attorney
7/19/2017: Legacy Document - LEGACY DOCUMENT TYPE: Notice of Motion
8/7/2017: Legacy Document - LEGACY DOCUMENT TYPE: Opposition
8/9/2017: Legacy Document - LEGACY DOCUMENT TYPE: Objection
8/11/2017: Legacy Document - LEGACY DOCUMENT TYPE: Declaration
8/25/2017: Other - - Civil Deposit
8/30/2017: Legacy Document - LEGACY DOCUMENT TYPE: Notice
9/25/2017: Minute Order - Minute order entered: 2017-09-25 00:00:00
10/12/2017: Legacy Document - LEGACY DOCUMENT TYPE: Request
11/27/2017: Notice of Case Management Conference
1/31/2018: Case Management Statement
2/5/2018: Notice of Ruling
11/16/2018: Notice of Ruling
Hearing01/03/2020 at 08:30 AM in Department D at 600 East Broadway, Glendale, CA 91206; Hearing on Motion for Order Release of Plaintiff's $45,000 UndertakingRead MoreRead Less
DocketMotion for Order (Release $45,000 Undertaking); Filed by QUICKFIX INVESTMENTS, LLC. (Defendant)Read MoreRead Less
DocketDeclaration (Blake Wilson-Hayden); Filed by QUICKFIX INVESTMENTS, LLC. (Defendant)Read MoreRead Less
DocketRequest for Judicial Notice; Filed by QUICKFIX INVESTMENTS, LLC. (Defendant)Read MoreRead Less
Docketat 08:30 AM in Department D; Hearing on Motion - Other (To Exonerate Bond filed on behalf of Plaintiff Marco Macias) - Held - Motion DeniedRead MoreRead Less
DocketMinute Order ( (Hearing on Motion - Other To Exonerate Bond filed on behalf o...)); Filed by ClerkRead MoreRead Less
Docketat 08:30 AM in Department D; Hearing on Motion - Other (Motion to Release Civil Bond) - Not Held - Rescheduled by PartyRead MoreRead Less
DocketOpposition (to Motion to Exonerate Bond); Filed by QUICKFIX INVESTMENTS, LLC. (Defendant); BLAKE WILSON-HAYDEN (Defendant)Read MoreRead Less
DocketDeclaration (of Defendant Blake Wilson-Hayden); Filed by QUICKFIX INVESTMENTS, LLC. (Defendant); BLAKE WILSON-HAYDEN (Defendant)Read MoreRead Less
DocketMotion re: (Notice of Motion and Motion to Exonerate Bond); Filed by MARCO MACIAS (Plaintiff)Read MoreRead Less
DocketMinute order entered: 2017-07-12 00:00:00; Filed by ClerkRead MoreRead Less
DocketExParte Application; Filed by MARCO MACIAS (Plaintiff)Read MoreRead Less
DocketCivil Case Cover SheetRead MoreRead Less
DocketSummons FiledRead MoreRead Less
DocketSummons; Filed by nullRead MoreRead Less
DocketComplaint filed-Summons IssuedRead MoreRead Less
DocketNotice of Order to Show Cause Re Failure to Comply with Trial Court Delay Reduction ActRead MoreRead Less
DocketNotice of Case Management ConferenceRead MoreRead Less
DocketNotice of Case Assignment - Unlimited Civil CaseRead MoreRead Less
DocketComplaint filed-Summons Issued; Filed by nullRead MoreRead Less
Case Number: EC066854 Hearing Date: February 21, 2020 Dept: NCD
Case No: EC 066854
Case Name: Macias v. Quickfix Investments, LLC, et al.
MOTION FOR RELEASE OF UNDERTAKING
Moving Party: Defendants Quickfix Investments, LLC and Blake Wilson-Hayden
Responding Party: Plaintiff Marco Macias (No Opposition)
Order to release plaintiff’s $45,000 undertaking
SUMMARY OF FACTS:
Plaintiff Marco Macias alleges that he is the co-owner with non-party Juan Cuevas and occupies as his principal dwelling real property in Monterey Park. Plaintiff alleges that in October of 2014 he was approached by a friend who needed a loan, and as a favor plaintiff agreed to support a loan to his friend if the friend could locate a lender that would make a loan to be secured by a third deed of trust recorded against plaintiff’s property. The friend located a lender, defendant Quickfix Investments, LLC, and negotiated the terms of a “hard money” loan for $97,014 payable within six months at an annual interest rate of 15%. Plaintiff alleges that plaintiff was directed to go to an office in Los Angeles to execute the loan documents, which he did, but was not provided with copies of the documents he signed.
Plaintiff alleges that when foreclosure proceedings were commenced in 2017, he obtained from the escrow company a copy of the documents he signed and learned that the note provided for various increases in the interest rate, fees and penalties, and other charges. Plaintiff alleges that defendant failed to comply with Truth in Lending Act, and the California High Cost Law, entitling plaintiff to rescind the transaction.
On July 12, 2017, the court heard an ex parte application filed on behalf of plaintiff for a TRO and OSC re Preliminary Injunction to enjoin a trustee’s sale then scheduled for July 17, 2017. The application was granted, the TRO was issued, and the matter set for an OSC re preliminary injunction.
On August 11, 2017, the court granted the application for preliminary injunction, and ordered plaintiff to post a bond in the sum of $45,000. The bond was posted on August 25, 2017.
On February 2, 2018, the court heard a motion brought by defendants Quickfix Investments, LLC and Blake Wilson-Hayden to compel arbitration. The unopposed motion was granted, and the matter stayed as to all parties, including a non-arbitrating party, SBS Trust Deed Network, pending resolution of the arbitration.
On February 13, 2019, the court heard an ex parte application to confirm the contractual arbitration award and terminate the preliminary injunction, which was granted.
On July 5, 2019, the court heard a motion brought by plaintiff Macias to exonerate the bond. The motion was denied, the court ruling as follows:
“Motion to Exonerate Bond is DENIED. There has been no final judgment entered in this matter. Also, it is not clear what effect plaintiff’s pending bankruptcy has on plaintiff’s standing to seek relief in this matter, and it appears that defendants may have a claim to the bond funds, which may be pursued post-judgment.”
Defendants Quickfix Investments and Wilson-Hayden bring this motion to release plaintiff’s $45,000 undertaking, on the ground judgment has been entered against plaintiff in favor of defendants, and that defendants were damaged by the wrongfully imposed injunction.
The problem remains with respect to this motion, as was a problem with plaintiff’s motion, that there has not yet been a judgment entered in this matter.
Defendants seek relief under CCP § 996.440, which provides, in pertinent part:
“(a) If a bond is given in an action or proceeding, the liability on the bond may be enforced on motion made in the court without the necessity of an independent action.
(b) The motion shall not be made until after entry of the final judgment in the action or proceeding in which the bond is given and the time for appeal has expired or, if an appeal is taken, until the appeal is finally determined. The motion shall not be made or notice of motion served more than one year after the later of the preceding dates.”
The motion concedes that although defendants were granted an ex parte application to confirm the arbitration, before judgment could be entered plaintiff filed for bankruptcy protection on March 26, 2019. The file does not show that judgment has yet been entered in this matter, and the moving papers concede that plaintiff is still currently in bankruptcy under a Chapter 13 petition.
Defendants indicate that they have been granted by the bankruptcy court relief from the automatic stay. [RFJN, Ex. A]. The bankruptcy court order indicates that as to movant, which is defined as the moving defendants here, Quickfix and Wilson-Hayden, the automatic stay of 11 U.S.C § 362(a) is “Terminated as to the Debtor and the Debtor’s bankruptcy estate,” and that movants “may proceed in the nonbankruptcy forum to final judgment (including any appeals) in accordance with nonbankrupcy law.” [RFJN, Ex. A ¶¶ 4, 5].
Defendants indicate that they have recently made a request for entry of judgment. Again, that request has evidently not been acted upon by the court, and since such a motion “shall not be made until after entry of the final judgment in the action or proceeding,” this motion is premature, and should be denied without prejudice. It will be discussed at the hearing whether the relief from the stay makes it appropriate for the court to enter judgment to start the time running at this juncture.
Motion for Release of Plaintiff’s $45,000 Undertaking is DENIED WITHOUT PREJUDICE as premature. There has been no final judgment entered in this matter. See CCP § 996.440.
UNOPPOSED Request for Judicial Notice is GRANTED. The court notes that the bankruptcy court in plaintiff’s Chapter 13 proceedings has ordered the automatic stay of 11 U.S.C § 362(a) with respect to movant, defendants Quickfix Investments, LLC and Blake Wilson-Hayden, terminated as to the bankruptcy debtor and the debtor’s bankruptcy estate, permitting moving defendants to proceed in this court to final judgment. The court will accordingly enter final judgment in accordance with the court’s order of February 13, 2019 confirming the contractual arbitration award as soon as a proper form of judgment is submitted by defendants.