Free Letter - District Court of Delaware - Delaware

Case 1:07-cv-00799-JJF Document 13 Filed 12/21/2007 Page 1 of 2
RICHARDS, LAYTON St FINGER
A PROFESSIONAL ASSOCIATION
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920 Norm-I Kane Srnzrr DHRECT DML NUMBER
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DHQECTOR (302) G'-5l—'7'7OO [email protected] com
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December 2l, 2007
VIA HAND DELIVERY
The Honorable Joseph J. Farnan
United States District Court Judge
J. Caleb Boggs Federal Building
844 North King Street, Room 4l24
Lock Box 27
Wilmington, Delaware 1980l
Re: OHC Liquidation Trust v. Credit Suisse, et al. (In re Oakwood Homes
Corp.) 51:07-cv—00'799—JJFi
Dear Judge Farnan:
We represent the defendants ("Deferrdants" or "Credit Suisse") in the Ol~iC Liquidation
Trust v. Credit Suisse, et al. adversary proceeding (the “Adversary Proceeding") recently
assigned to this Court under the above referenced civil case number. We write in response to
Plaintiffs letter to the Court of yesterday. Given the long and developed history of this case, we
suggest that it would be helpful for the Court to schedule a status conference as soon as
convenient so that the parties can apprise the Court of their positions on the various outstanding
issues and formulate a sensible procedure for moving forward.
While the Plaintiffs asseit that the matter is "now ready to proceed to trial,” they do not
point out that the case was "trial—ready" in a different context — a bench trial in the Bankruptcy
Court, It was only literally on the eve of that trial (a trial date requested by the Plaintiffs) that the
Plaintiffs asserted their desire for a jury trial and the need to withdraw the reference from the
Bankruptcy Court. Before the case can be ready for trial in this Court, the Court iirst will need
to consider the question of whether a jury trial is appropriate (which question is raised both by
the Motion to Withdraw the Reference and Plaintiffs Appeal hom the Bankruptcy Court’s
decision). This is so for two reasons. First, if the Court determines that the case should not be
tried to a jury, Plaintiff advances no reason why the automatic reference should be withdrawnr
Second, from a practical standpoint, obviously the Court needs to understand what kind of trial,
bench or jury, it would conduct- Thus, scheduling a trial now makes little sense.
Should the Court conclude that the case should be tried to a jury, and that withdrawal of
the reference is necessary, certain other matters will need to be considered} For example, as the
case proceeded toward the trial date Plairitiffs sought in the Plaintill"s chosen tbrtun of the
Rliii-3237825-1

Case 1:07-cv-00799-JJF Document 13 Filed 12/21/2007 Page 2 of 2
The Honorable Joseph J. Farnan
December 21, 2007
Page 2
Bankruptcy Court, Defendants, who obviously understood that the Delaware Bankruptcy Court
cannot conduct a jury trial, elected not to move for summary judgment. We would expect to
make such a motion prior to a jury trial. Similarly, in anticipation of a trial to the Bankruptcy
Court, Defendants did not intend to produce expert evidence on matters with which the
Bankruptcy Judge would have been familiar, such as the duties of a troubled companys bankers.
We would, of course, expect to offer such evidence iftlie matter were tried to ajury.
Given the procedural complexity of the matter as it presently stands, with three motions
currently outstanding, two before this Court and one before the Bankruptcy Court, Credit Suisse
respectfully suggests that a status conference would be helpful.
Very truly yours,
Russell C. Si1bergli
RCS/lam
cc: VIA ELECTRONIC MAIL
R. Paul Wickes
Mary K. Warren
Michael J. Osnato, Jr.
J , Justin Williamson
Marla Rosoff Eskin, Esq,.
Tony Castanares, Esq.
Stephan M. Ray, Esqr
Scott I-I. Yun, Esq.
Whitman L. Holt, Esq.
rust-zzmzs-1

Case 1:07-cv-00799-JJF

Document 13

Filed 12/21/2007

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Case 1:07-cv-00799-JJF

Document 13

Filed 12/21/2007

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