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This case was last updated from PACER on 05/03/2021 at 07:07:27 (UTC).

Wells Fargo Commercial Distribution Finance, LLC v. Pianos Plus, Inc.

Case Summary

On March 4th, 2021, Wells Fargo Commercial Distribution Finance, LLC (formerly known as GE Commercial Distribution Finance Corporation, which was formerly known as Deutsche Financial Services Corporation) (the “Lender”), represented by Farah Tabibkhoei of Reed Smith LLP, filed a civil enforcement action against Pianos Plus, Inc. (“Dealer”), seeking temporary restraining order and preliminary injunction for default under the terms of the Financing Agreement. This case was filed in U.S. District Court in the Northern District of California with Judge Joseph C. Spero presiding.

 

In the complaint, it has been alleged that “on or about October 13, 2013, GE Commercial Distribution Finance Corporation entered into an Amended and Restated Inventory Financing Agreement (“Inventory Financing Agreement”) with Dealer whereby Lender agreed to extend financing to Dealer to acquire inventory for sale to the public and Dealer agreed to pay certain sums to Lender”

 

The Lender further alleged that “Pursuant to the terms of the Financing Agreement, Lender extended credit to Dealer to allow Dealer to acquire certain types of inventory to be sold to the public, including but not limited to pianos (“Inventory Collateral”)” and that “under the Financing Agreement, a default occurs when the Dealer or any Guarantor dies, becomes insolvent, generally fails to pay its debt as they become due, or if Lender in good faith believes the prospect of payment of any obligations under the Financing Agreement is impaired or Lender deems itself insecure.”

 

Lender further alleged that “despite several demands upon Dealer to voluntarily surrender the Inventory Collateral and remit all proceeds thereof to Lender and the fact that Lender has performed all of its obligations under the Financing Agreement, Dealer refuses to comply with Lender’s demand to voluntarily surrender the Inventory Collateral or remit all proceeds thereof to Lender and refuses to pay the balance owed on the accelerated Financing Agreement.”

 

The Lender also alleged that “Dealer’s default under the Financing Agreement has resulted in Lender suffering damage. As a result of Dealer’s default, Lender is owed no less than an unpaid principal of $143,356.96 and $1,809.00 of ADB charges accrued as of March 1, 2021, and other fees and charges including all present and future costs of collection, plus interest.” Mr. Engel allegedly was an individual guarantor who died in or about November 2020.

 

The only claim for relief laid down by the Lender has been brought pursuant to Federal Rule of Civil Procedure 64 and California’s Claim and Delivery statute, California Code of Civil Procedure Section 512.010 et seq., the requirements of which have been allegedly met in this case.

 

In the prayer for relief, the Lender has requested the court to pass a judgment of immediate possession of the Lender Financed Inventory in favor of Lender and against Dealer in addition to temporary restraining order and preliminary injunction and costs of litigation.

 

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Case Details Parties Documents Dockets

 

Case Details

  • Case Number:

    3:21-CV-01565

  • Filing Date:

    03/04/2021

  • Case Status:

    Disposed - Other Disposed

  • Case Type:

    Contract - Other Contract

  • Court:

    U.S. District Courts

  • Courthouse:

    California Northern District

Judge Details

Presiding Judge

Joseph C. Spero

 

Party Details

Plaintiff

Wells Fargo Commercial Distribution Finance, LLC

Defendant

Pianos Plus, Inc.

Attorney/Law Firm Details

Plaintiff Attorneys

Farah Tabibkhoei

Attorney at Reed Smith LLP

355 S. Grand Avenue, Suite 2900

Los Angeles, CA 90071-1514

Emily Frances Lynch

Attorney at Reed Smith LLP

101 Second Street, Suite 1800

San Francisco, CA 94105

 

Court Documents

#12

(#12) NOTICE of Voluntary Dismissal Plaintiff's Notice of Dismissal with Pianos Plus, Inc. with Prejudice by Wells Fargo Commercial Distribution Finance, LLC (Lynch, Emily) (Filed on 4/23/2021) (Entered: 04/23/2021)

#11

(#11) CLERK'S SECOND NOTICE Re: Consent or Declination: Plaintiff Wells Fargo Commercial Distribution shall file a consent or declination to proceed before a magistrate judge. Note that any party is free to withhold consent to proceed before a magistrate judge without adverse substantive consequences. The forms are available at: http://cand.uscourts.gov/civilforms. (Party/parties were also notified via telephone or email.) Consent/Declination due by 4/26/2021. (klhS, COURT STAFF) (Filed on 4/12/2021) (Entered: 04/12/2021)

#10

(#10) CLERK'S NOTICE Re: Consent or Declination: Plaintiff shall file a consent or declination to proceed before a magistrate judge. Note that any party is free to withhold consent to proceed before a magistrate judge without adverse substantive consequences. The forms are available at: http://cand.uscourts.gov/civilforms. (Party/parties were also notified via telephone or email.) Consent/Declination due by 4/5/2021. (klhS, COURT STAFF) (Filed on 3/22/2021) (Entered: 03/22/2021)

#9

(#9) ORDER SETTING CASE MANAGEMENT CONFERENCE [Reassigned Case]. Signed on 3/9/2021 by Chief Magistrate Judge Joseph C. Spero. Case Management Statement due 5/28/2021. Initial Case Management Conference set for 6/4/2021 02:00 PM in San Francisco, - Videoconference Only. This proceeding will be held via a Zoom webinar.Webinar Access: All counsel, members of the public, and media may access the webinar information at #https://www.cand.uscourts.gov/jcs General Order 58. Persons granted access to court proceedings held by telephone or videoconference are reminded that photographing, recording, and rebroadcasting of court proceedings, including screenshots or other visual copying of a hearing, is absolutely prohibited.Zoom Guidance and Setup: #https://www.cand.uscourts.gov/zoom/. (klhS, COURT STAFF) (Filed on 3/9/2021) (Entered: 03/09/2021)

#8

(#8) ORDER REASSIGNING CASE. Case reassigned using a proportionate, random, and blind system pursuant to General Order No. 44 to Magistrate Judge Joseph C. Spero for all further proceedings. Magistrate Judge Alex G. Tse no longer assigned to case,. Signed by Clerk on 03/05/2021. (mbcS, COURT STAFF) (Filed on 3/5/2021) (Entered: 03/05/2021)

#7

(#7) RECUSAL ORDER by Magistrate Judge Alex G. Tse. (shyS, COURT STAFF) (Filed on 3/5/2021) (Entered: 03/05/2021)

#6

(#6) Initial Case Management Scheduling Order with ADR Deadlines: Case Management Statement due by 5/28/2021. Initial Case Management Conference set for 6/4/2021 02:00 PM in San Francisco, - Videoconference Only. (arkS, COURT STAFF) (Filed on 3/5/2021) (Entered: 03/05/2021)

#5

(#5) Summons Issued as to Pianos Plus, Inc. (arkS, COURT STAFF) (Filed on 3/5/2021) (Entered: 03/05/2021)

#4

(#4) Corporate Disclosure Statement by Wells Fargo Commercial Distribution Finance, LLC identifying Corporate Parent Wells Fargo Company, Corporate Parent Wells Fargo Bank, N.A. for Wells Fargo Commercial Distribution Finance, LLC. Plaintiff's Corporate Disclosure Statement (Tabibkhoei, Farah) (Filed on 3/5/2021) (Entered: 03/05/2021)

#2

(#2) Proposed Summons. (Tabibkhoei, Farah) (Filed on 3/4/2021) (Entered: 03/04/2021)

1 #8

Civil Cover Sheet

1 #7

Exhibit 7

1 #6

Exhibit 6

1 #5

Exhibit 5

1 #4

Exhibit 4

1 #3

Exhibit 3

1 #2

Exhibit 2

1 #1

Exhibit 1

8 More Documents Available
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Docket Entries

  • 04/23/2021
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  • Docket(#12) NOTICE of Voluntary Dismissal Plaintiff's Notice of Dismissal with Pianos Plus, Inc. with Prejudice by Wells Fargo Commercial Distribution Finance, LLC (Lynch, Emily) (Filed on 4/23/2021) (Entered: 04/23/2021)

    Read MoreRead Less
  • 04/12/2021
  • View Court Documents
  • Docket(#11) CLERK'S SECOND NOTICE Re: Consent or Declination: Plaintiff Wells Fargo Commercial Distribution shall file a consent or declination to proceed before a magistrate judge. Note that any party is free to withhold consent to proceed before a magistrate judge without adverse substantive consequences. The forms are available at: http://cand.uscourts.gov/civilforms. (Party/parties were also notified via telephone or email.) Consent/Declination due by 4/26/2021. (klhS, COURT STAFF) (Filed on 4/12/2021) (Entered: 04/12/2021)

    Read MoreRead Less
  • 03/22/2021
  • View Court Documents
  • Docket(#10) CLERK'S NOTICE Re: Consent or Declination: Plaintiff shall file a consent or declination to proceed before a magistrate judge. Note that any party is free to withhold consent to proceed before a magistrate judge without adverse substantive consequences. The forms are available at: http://cand.uscourts.gov/civilforms. (Party/parties were also notified via telephone or email.) Consent/Declination due by 4/5/2021. (klhS, COURT STAFF) (Filed on 3/22/2021) (Entered: 03/22/2021)

    Read MoreRead Less
  • 03/09/2021
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  • Docket(#9) ORDER SETTING CASE MANAGEMENT CONFERENCE [Reassigned Case]. Signed on 3/9/2021 by Chief Magistrate Judge Joseph C. Spero. Case Management Statement due 5/28/2021. Initial Case Management Conference set for 6/4/2021 02:00 PM in San Francisco, - Videoconference Only. This proceeding will be held via a Zoom webinar.Webinar Access: All counsel, members of the public, and media may access the webinar information at #https://www.cand.uscourts.gov/jcs General Order 58. Persons granted access to court proceedings held by telephone or videoconference are reminded that photographing, recording, and rebroadcasting of court proceedings, including screenshots or other visual copying of a hearing, is absolutely prohibited.Zoom Guidance and Setup: #https://www.cand.uscourts.gov/zoom/. (klhS, COURT STAFF) (Filed on 3/9/2021) (Entered: 03/09/2021)

    Read MoreRead Less
  • 03/05/2021
  • View Court Documents
  • Docket(#8) ORDER REASSIGNING CASE. Case reassigned using a proportionate, random, and blind system pursuant to General Order No. 44 to Magistrate Judge Joseph C. Spero for all further proceedings. Magistrate Judge Alex G. Tse no longer assigned to case,. Signed by Clerk on 03/05/2021. (mbcS, COURT STAFF) (Filed on 3/5/2021) (Entered: 03/05/2021)

    Read MoreRead Less
  • 03/05/2021
  • View Court Documents
  • Docket(#7) RECUSAL ORDER by Magistrate Judge Alex G. Tse. (shyS, COURT STAFF) (Filed on 3/5/2021) (Entered: 03/05/2021)

    Read MoreRead Less
  • 03/05/2021
  • View Court Documents
  • Docket(#6) Initial Case Management Scheduling Order with ADR Deadlines: Case Management Statement due by 5/28/2021. Initial Case Management Conference set for 6/4/2021 02:00 PM in San Francisco, - Videoconference Only. (arkS, COURT STAFF) (Filed on 3/5/2021) (Entered: 03/05/2021)

    Read MoreRead Less
  • 03/05/2021
  • View Court Documents
  • Docket(#5) Summons Issued as to Pianos Plus, Inc. (arkS, COURT STAFF) (Filed on 3/5/2021) (Entered: 03/05/2021)

    Read MoreRead Less
  • 03/05/2021
  • View Court Documents
  • Docket(#4) Corporate Disclosure Statement by Wells Fargo Commercial Distribution Finance, LLC identifying Corporate Parent Wells Fargo Company, Corporate Parent Wells Fargo Bank, N.A. for Wells Fargo Commercial Distribution Finance, LLC. Plaintiff's Corporate Disclosure Statement (Tabibkhoei, Farah) (Filed on 3/5/2021) (Entered: 03/05/2021)

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  • 03/05/2021
  • Docket(#3) Case assigned to Magistrate Judge Alex G. Tse. Counsel for plaintiff or the removing party is responsible for serving the Complaint or Notice of Removal, Summons and the assigned judge's standing orders and all other new case documents upon the opposing parties. For information, visit E-Filing A New Civil Case at http://cand.uscourts.gov/ecf/caseopening.Standing orders can be downloaded from the court's web page at www.cand.uscourts.gov/judges. Upon receipt, the summons will be issued and returned electronically. Counsel is required to send chambers a copy of the initiating documents pursuant to L.R. 5-1(e)(7). A scheduling order will be sent by Notice of Electronic Filing (NEF) within two business days. Consent/Declination due by 3/19/2021. (haS, COURT STAFF) (Filed on 3/5/2021) (Entered: 03/05/2021)

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  • 03/04/2021
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  • Docket(#2) Proposed Summons. (Tabibkhoei, Farah) (Filed on 3/4/2021) (Entered: 03/04/2021)

    Read MoreRead Less
  • 03/04/2021
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  • Docket(#1) COMPLAINT against Pianos Plus, Inc. ( Filing fee $ 402, receipt number 0971-15658466.). Filed byWells Fargo Commercial Distribution Finance, LLC. (Attachments: #1 Exhibit 1, #2 Exhibit 2, #3 Exhibit 3, #4 Exhibit 4, #5 Exhibit 5, #6 Exhibit 6, #7 Exhibit 7, #8 Civil Cover Sheet)(Tabibkhoei, Farah) (Filed on 3/4/2021) (Entered: 03/04/2021)

    Read MoreRead Less
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