HomeMy WebLinkAbout2026-05-26 SRR Appeal DISMISSED Builders Captial - District Court OrderCase 1:25-cv-01342-CFC Document 62 Filed 05/26/26 Page 1 of 2 PagelD #: 8696
IN THE UNITED STATES DISTRICT COURT
FOR THE DISTRICT OF DELAWARE
In re:
SILVERROCK DEVELOPMENT
COMPANY, LLC, et al.,
Debtors.
CONSTRUCTION LOAN SERVICES II,
LLC,
Appellant,
v.
SILVERROCK DEVELOPMENT
COMPANY, LLC, et al.,
Appellees.
Chapter 11
Case No. 24-11647 (MFW)
Jointly Administered
Civil Action No. 25-01342-CFC
ORDER
The Parties have submitted a Joint Stipulation, in which they have
informed the Court that the Parties have stipulated and agreed to dismiss the Appeal,
subject to entry of this Order.
Having considered the Joint Stipulation, and good cause appearing, IT
IS HEREBY ORDERED THAT:
1. The Appeal is dismissed with prejudice as set forth herein.
2. The Joint Stipulation is approved.
Case 1:25-cv-01342-CFC Document 62 Filed 05/26/26 Page 2 of 2 PagelD #: 8697
3. The following ruling in paragraph 17 of the Sale Order — "The Ground Leases
have been determined to not be 'true leases' — along with the findings set
forth at page 4, line 5 through page 5, line 6, of the transcript of the hearing
held on October 21, 2025, shall be vacated. No other portion of the Sale Order
or the rulings set forth in said transcript shall be vacated.
4. Notwithstanding such vacatur, all other provisions of the Sale Order and
related rulings and findings are unaffected by this Joint Stipulation and this
Court's order approving this Joint Stipulation, and the Sale was and shall
remain free and clear of the Ground Leases and any claims, liens, or interests
of the Appellant or any other person.
This 26th day of May
, 2026.
/s/ Colm F. Connolly
Honorable Colm F. Connolly, Chief Judge
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