Serrano Square LLC v. First Republic Bank
Opinion
Trial Court Opinion
UNITED STATES DISTRICT COURT
CENTRAL DISTRICT OF CALIFORNIA
CIVIL MINUTES - GENERAL
Case No. 2:23-cv-04298-RGK-RAO Date September 7, 2023 Title Serrano Square, LLC vy. First Republic Bank et al.
Present: The Honorable R. GARY KLAUSNER, UNITED STATES DISTRICT JUDGE Joseph Remigio (not present) Not Reported N/A Deputy Clerk Court Reporter / Recorder Tape No. Attorneys Present for Plaintiff: Attorneys Present for Defendants: Not Present Not Present Proceedings: (IN CHAMBERS) Order to Show Cause Re: Subject Matter Jurisdiction
On March 17, 2023, Serrano Square, LLC (‘Plaintiff’) filed a Complaint against First Republic Bank (“FRB”), a federally insured depository institution, in state court. On May 1, 2023, the California Department of Financial Protection and Innovation closed FRB and appointed the Federal Deposit Insurance Corporation (“FDIC”) as the receiver for FRB. On June 1, 2023, FDIC removed the action to this Court, and on June 14, the Court granted a mandatory stay pursuant to 12 U.S.C. § 1821(d)(12)(A). On…