Free Memorandum in Support of Motion - District Court of Connecticut - Connecticut

Case 3:00-cv-00835-CFD

Document 396

Filed 05/27/2004

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UNITED STATES DISTRICT COURT DISTRICT OF CONNECTICUT

INDYMAC BANK, F.S.B. Plaintiff CIVIL ACTION NO. 3:00CV835 (CFD)

V.

MOSTAFA REYAD AND WAFA REYAD Defendants DATE: MAY 25, 2004 DEFENDANTS MEMORANDUM OF LAW IN SUPPORT OF EXPEDITED MOTION TO ENJOIN PLAINTIFF TO RELEASE LIS PENDENCE OFF REAL ESTATE PROPERTY OWNED BY DEFENDANTS DAUGHTER This is the memorandum of law in support of Defendants expedited motion to enjoin Plaintiff to release the lis pendence off the real estate property located at 1452-1454 River Road, Edgewater, New Jersey owned by Defendants daughter Dina R. Abousabe. Defendants daughter should be admitted to the hospital on June 1, 2004 per doctor s recommendation. This circumstances warrant expedited review and Court s Order to enjoin Plaintiff to release the said lis pendence as practicable as possible.

Although, the subject property is owned by Dina R. Abousabe, and the lis pendence is against Wafa Reyad. It creates title cloud blocked the transfer of the property to a purchaser. The subject property valued at one million two hundred thousand, and due to the circumstances of Defendants daughter s illness and

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Case 3:00-cv-00835-CFD

Document 396

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Defendants extraordinary circumstances related to prejudgment attachments and garnishments Abousabe offered the said property at one million for quick sale. She entered into contract, but she is unable to close the transaction because of the title cloud caused by the lis pendence, even it is against her mother.

The outstanding Court Orders for prejudgment attachments and garnishments issued by this District and the District of New Jersey totaled $ 18.5 million. This District issued eight (8) Orders, each order $ 1.6 million, and the District of New Jersey issued $ 5.7 million.

Plaintiff admitted on their Plaintiff s consolidated opposition to Defendants prejudgment remedy dated May 20, 2004 (Doc # 389) p. 3 The only other asset that IndyMac has attached pursuant to the prejudgment in the New Jersey Action is a cooperative apartment in Fort Lee, New Jersey, owned by Wafa Reyad, the net equity in which Ms. Reyad estimated during her deposition on April 3, 2004 to be approximately $ 400,000, and Mr. Reyad estimated during his deposition on May 26, 2000 to be approximately $ 290,000 .

The documents attached hereto shows that New Jersey Action is in a stay status pending final resolution of this District, affirmed by the Decision of the Third Circuit, thus, there is no way to Defendants to apply to the District of New Jersey. The only justifiable solution lies in this Court to Enjoin Plaintiff to release the lis

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Document 396

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pendence on the subject property. The extraordinary circumstances necessitates expedited consideration.

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Case 3:00-cv-00835-CFD

Document 396

Filed 05/27/2004

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By: Mostafa Reyad 2077 Center Ave # 22D Fort Lee, NJ 07024 Day Phone 203-325-4100 Home Phone 201-585-0562

By: Wafa Reyad 2077 Center Ave # 22D Fort Lee, NJ 07024 Home Phone 201-585-0562

CERTIFICATE OF SERVICE

The undersigned certifies that he mailed on the captioned date a true and correct copy to Attorney David Schaefer at 271 Whitney Avenue, New Haven, CT 06511.

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