In Re Debtor Lev Investments, LLC
Opinion
Trial Court Opinion
I. BACKGROUND
In August 2018, Appellant Coachella Vineyard Luxury RV Park, LLC (“RV”) obtained a loan from Appellee Lev Investments, LLC (“Lev”) for $2,000,000 (the “Loan”). (Dkt. 10, at 9). Lev’s Loan was secured by a first- position Deed of Trust recorded against RV’s vacant land in Coachella, Cali- fornia (the “Property”). (Id.). 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26
truoC tcirtsiD setatS detinU ainrofilaC fo tcirtsiD lartneC Case 2:21-cv-07692-VAP Document Filed 07/01/ Page 2 of Page ID #:428 In June 2019, Lev declared the Deed of Trust for the Loan to be in de- fault. (Id. at 10). A dispute arose as to the amount owed and RV brought action in the Riverside Superior Court to enjoin the sale and determine the correct amount due on the loan. (Id.).
On October 10, 2019, the Superior Court granted RV a temporary re- straining order which expired on November 6, 2019, after the denial of the preliminary injunction. (Id.).
On November 7, 2019, Lev foreclosed on the Property; however, pur- suant to Civil Code § 2924g(d), which imposes an automatic seven-day stay upon a foreclosure sale after the expiration of a temporary…