Englewood Lending Inc. v. G & G Coachella Investments, LLC

ORDER GRANTING MOTION TO DISMISS COUNTERCLAIMS AND THIRD PARTY CLAIMS

The “Motion by Plaintiff and Counterdefendant Englewood Lending Inc. and Third Party Defendant Plainfield Specialty Holdings I Inc. to Dismiss Counterclaims and Third Party Claim” (“Mot.”) filed by Plaintiff and Counterdefendant Englewood Lending Inc. (“Englewood”) and Third Party Defendant Plainfield Specialty Holdings I, Inc. (“Plainfield Speciality”) came before the Court for hearing on August 17, 2009. After reviewing and considering all papers filed in support of, and in opposition to, the Motion, as well as the arguments advanced by counsel at the hearing, the Court GRANTS the Motion and dismisses the two counterclaims and third party claims (“Counterclaims”) filed by G & G Coachella Investments, LLC, 350 RC, LLC, Stone Water LLC and Gibralt U.S., Inc. (“Gibralt”), (collectively “Borrowers”).

I. BACKGROUND

A. Procedural History

On May 22, 2009, Englewood filed its First Amended Complaint (“FAC”) against the Borrowers asserting the following claims: (1) Judicial Foreclosure against Defendant G & G Coachella Investments, LLC; (2) Judicial Foreclosure against Defendant Stone Water, LLC; (3) Judicial…