On February 2, Judge Gregerson reaffirmed his prior ruling that the Anderson 7 had willfully violated the court’s settlement order by attempting to attack the settlement in federal court in Oregon and held that the Receiver and Pacific Premier Bank were entitled to an award of attorneys’ fees in connection with this contempt. On March 7, Judge Gregerson signed two judgments that impose monetary sanctions on the Anderson 7 related to this contempt of court. They are jointly and severally liable for $50,000 to the Receiver and for $50,000 to Pacific Premier Bank under these judgments. This means that the full amount can be collected from any one of the seven members of the group. The Receiver has registered this judgment with the Oregon courts.
On March 28, the Receiver filed its opening brief in the appeal of the $19M bank settlements brought by the Anderson 7. You can find a copy of that brief on the documents page of the Receiver’s website. The next step in the appeals process is for the Anderson 7 to file a reply brief, which is due on May 13. Once all briefs have been filed, the Court of Appeals will set a date for oral argument. It is difficult to predict the timing of the Court of Appeals, but we expect that the Court will schedule the oral argument for some time in the second half of 2024 with a decision to be issued late this year or year next year.