United of Omaha Life Insurance Company v. Acass Systems, LLC ( 2020 )

IN THE UNITED STATES DISTRICT COURT FOR THE DISTRICT OF NEBRASKA UNITED OF OMAHA LIFE INSURANCE COMPANY, 8:19-CV-234 Plaintiff, vs. MEMORANDUM AND ORDER ACASS SYSTEMS, LLC, et al., Defendants. This matter is before the Court on the Bankruptcy Court's report and recommendation (filing 46) recommending withdrawal of the bankruptcy reference and disbursement of funds in the custody of the Court pursuant to the parties' settlement agreement, and defendant BizCapital BIDCO I, LLC's associated motion for the same (filing 47). The time for objecting to the report and recommendation has elapsed, see NEGenR 1.5(b)(2), and no objections have been filed. The failure to file an objection eliminates not only the need for de novo review, but any review by the Court. See Leonard v. Dorsey & Whitney LLP, 553 F.3d 609 (8th Cir. 2009). Accordingly, the Court will adopt the report and recommendation and grant BizCapital's motion, disbursing the interpleaded funds in the Court's custody pursuant to the parties' settlement agreement (bankruptcy case no. 18-81299 filing 259-1). IT IS ORDERED: 1. The report and recommendation of the United States Bankruptcy Judge (filing 46) recommending withdrawal of the reference is adopted. 2. Reference of this case to the United States Bankruptcy Court for the District of Nebraska is withdrawn. 3. Defendant BizCapital BIDCO I, LLC's motion for disbursement of deposited funds (filing 47) is granted pursuant to NECivR 67.1. 4. The Clerk of the Court shall release the sum of $3,600,000 via check payable to BizCapital BIDCO I, LLC, c/o: Gross & Welch, P.C., L.L.O. Attn: Frederick D. Stehlik 1500 Omaha Tower 2120 South 72nd Street Omaha, NE 68124-2432 5. The Clerk of the Court shall release the sum of $300,000 via check payable to Colleen Cass, c/o: Pansing Hogan Ernst & Bachman LLP Attn: Edward D. Hotz 10250 Regency Circle, Suite 300 Omaha, NE 68114 6. The Clerk of the Court shall release the balance of the interpleaded funds, including all accrued interest, to ACASS Systems' bankruptcy estate via check payable to James Overcash, Chapter 7 Trustee for ACASS-Systems, LLC, c/o: Rembolt Ludtke LLP Attn: Timothy R. Engler 3 Landmark Centre 1128 Lincoln Mall, Suite 300 Lincoln, NE 68508 7. A separate judgment shall be entered. Dated this 19th day of May, 2020. BY THE COURT: hn M. Gerrard hief United States District Judge -3-