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O'm and Associates, LLC, An Illinois Limited Liability Company, Dba O'malley and Associates, et al v. Brendan K. Ozanne

September 21, 2011

O'M AND ASSOCIATES, LLC, AN ILLINOIS LIMITED LIABILITY COMPANY, DBA O'MALLEY AND ASSOCIATES, ET AL.,
PLAINTIFF,
v.
BRENDAN K. OZANNE, BRIAN C. DAWSON, AND DAWSON & OZANNE, A
CALIFORNIA GENERAL PARTNERSHIP, AS ESCROW AGENT, ET AL., DEFENDANTS.



The opinion of the court was delivered by: Hon. Anthony J. BattagliaU.S. District Judge

[Doc. Nos. 122, 138, 141, 150, 190, 206 and 209]

ORDER

On September 16, 2011, a hearing was held on the record in this case on the above referenced motions. Based upon the reasons set forth herein and on the record, the Court rules as follows:

1) the parties Joint Motion to Continue Hearing Date, Doc. No. 206, is DENIED;

2) the Motion to Certify Judgment Against Kodiak Family Trust, Doc. No. 122, is DENIED for the reasons set forth on the record;

3) the Motion to Quash Service and Dismiss and to Set Aside Judgment by Kodiak, Doc. No. 138, is GRANTED for the reasons set forth on the record;

4) the Motion to Withdraw, Doc. No. 209, the Motion to Dismiss, Doc. No. 150, is GRANTED and the Motion to Dismiss, Doc. No. 150, is hereby WITHDRAWN;

5) the Motion to Dismiss by Bank of Utah, Doc. No. 190, is GRANTED for the reasons set forth on the record and in this Order; and

6) the Motion to Dismiss by Dawson & Ozanne, Doc. No. 141, is hereby GRANTED as set forth below.

Background

This action centers around the failed sale of life insurance policies (hereinafter "Life Policies"). (Compl. ¶ 1.) Plaintiffs are the sellers of the Life Policies. (Id. ¶ 11.) O'M & Assoc. is an Illinois Limited Liability Corporation (hereinafter "LLC") providing financial services and insurance based products including life insurance. There are twenty-eight Life Policies at issue in the instant action.*fn1

Preserve Capital is an Illinois LLC that purchased three of the life insurance policies for investment. The remaining twenty-five Life Policies are each individually owned by insurance trusts created by the insured and designating the beneficiary of the insured's choice. Preserve Capital acquired the right to sell the beneficial interest in life insurance trusts holding the life insurance policies from the individual owners of these twenty-five Life Policies. All 28 Life Policies were offered for sale through Emerald Isle LSF Limited. To facilitate the sale, the beneficiaries assigned their beneficial interests in the insurance trust to MBM Settlements, LLC, which is solely owned by Preserve Capital.

Defendant Stoen was the buyer's agent and manager for Defendant Kodiak Family, LLC. (Id. ¶ 7.) Kodiak in turn was the agent for the real buyer of the Life Policies. (Id. ¶ 16.) Defendant Brendan Ozanne ("Ozanne") represented Kodiak ...


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