KELLEY v. OPPORTUNITY FINANCE, LLC

Civil File No. 14-3375 (MJD).

DOUGLAS A. KELLEY, in his capacity as the Court-appointed Chapter 11 Trustee of Debtors Petters Company, Inc.; SPF Funding, LLC; and PC Funding, LLC; Plaintiff, v. OPPORTUNITY FINANCE, LLC, et al., Defendants.

United States District Court, D. Minnesota.

January 26, 2015.


Attorney(s) appearing for the Case

Daryle L. Uphoff , Mark D. Larsen , James A. Lodoen , Kirstin D. Kanski , and Adam C. Ballinger , Lindquist & Vennum PLLP, Counsel for Plaintiff Douglas A. Kelley.

John R. McDonald , Scott M. Flaherty , and Kari S. Berman , Briggs & Morgan, PA; Christopher J. Mandernach , Joseph G. Petrosinelli , and Jonathan Landy , Williams & Connolly LLP; and Frank R. Berman , Frank R. Berman, P.A., Counsel for Defendants Opportunity Finance, LLC; Opportunity Finance Securitization, LLC; Opportunity Finance Securitization II, LLC; Opportunity Finance Securitization III, LLC; International Investment Opportunities, LLC; Sabes Family Foundation; Sabes Minnesota Limited Partnership; Robert W. Sabes; Janet F. Sabes; Jon R. Sabes; and Steven Sabes.

Michael A. Rosow , Winthrop & Weinstine, PA, and H. Peter Haveles, Jr. , Kaye Scholer LLP, Counsel for Defendant DZ Bank AG Deutsch Zentral-Genossenschaftbank.

Patrick J. McLaughlin , Thomas O. Kelly, III , and Elizabeth A. Hulsebos , Dorsey & Whitney LLP, Counsel for Defendant West Landesbank AG.

David L. Mitchell , and Thomas C. Mahlum , Robins Kaplan Miller & Ciresi LLP, Counsel for Defendant The Minneapolis Foundation.


MEMORANDUM OF LAW & ORDER

MICHAEL J. DAVIS, Chief District Judge.

I. INTRODUCTION

This matter is before the Court on the Motion of Defendants Opportunity Finance, LLC and Its Related Defendants to Withdraw the Reference to the Bankruptcy Court. [Docket No. 1] The motion has been joined by all other Defendants. [Docket Nos. 1-3, 5, 7, 25] For the reasons set forth below, the Court denies the motion and dismisses this proceeding with prejudice...

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