Case Number: VC063314    Hearing Date: August 28, 2014    Dept: SEC

GOLDENPARK, LLC v. WILSHIRE STATE BANK
CASE NO.: VC063314
HEARING: 08/28/14

#6
TENTATIVE ORDER

Defendants URBAN COMMONS, LLC and URBAN COMMONS SYCAMORE, LLC’s motion for attorney’s fees is GRANTED in the amount of $165,033.
C.C.P. § 1032; C.C. § 1717.

In May 2014, defendants obtained a judgment of dismissal after their demurrer to the Second Amended Complaint was sustained without leave to amend. The action involved plaintiff GOLDENPARK, LLC’s default on two commercial loans, which ultimately resulted in foreclosure on the property used to secure the loans. Both the loan agreements and the promissory notes contain attorney fee provisions. Motion, Exh. D, E (p. 5); F, G (p. 2). Defendants seek attorney’s fees in the amount of $195,288.

Defendants obtained the loans after plaintiff was defaulted, and triggered the acceleration clause in January 2011. Plaintiff filed bankruptcy, and a related claim in order to stall foreclosure on the security. This action was filed in July 2013, wherein plaintiff sought to set aside the sale and sought damages related to a variety of claims arising out of the agreements. Defendants filed three demurrers in this case, the last of which resulted in dismissal.

In support of their request, defendants submitted attorney Jon Weininger’s declaration, as well as the monthly billing invoices setting forth the work done. Decl., Exh. G through Q. There appears to be some duplication of efforts, particularly with respect to research, drafting the demurrers and discussing strategies. The Court reduced the amount of recoverable time by 75 hours at the lowest rate, or $25,875. The Court also reduced the amount by $4,380 sought in connection with the subject motion, as no opposition was filed. The recoverable amount is $165,033.