Source: s3://data.kl3m.ai/documents/govinfo/USCOURTS/USCOURTS-caed-1_24-cv-01105/USCOURTS-caed-1_24-cv-01105-9/pdf.json

Nature of Suit Code: 220
Nature of Suit: Foreclosure
Cause of Action: 28:1332 Diversity-Breach of Contract

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UNITED STATES DISTRICT COURT

EASTERN DISTRICT OF CALIFORNIA

U.S. BANK NATIONAL ASSOCIATION,

Plaintiff,

vs.

TOUCHSTONE PISTACHIO COMPANY, LLC; 

FARSHID ASSEMI; FARID ASSEMI; DARIUS 

ASSEMI; NEEMA ASSEMI; MELISSA 

LAYNE; SONIA ROSEMARY ASSEMI; 

MARICOPA ORCHARDS, LLC; C&A FARMS, 

LLC; ACDF, LLC; CANTUA ORCHARDS, 

LLC; LINCOLN GRANTOR FARMS, LLC; 

PANOCHE PISTACHIOS, LLC; ADAMS 

GRANTOR LAND, LLC; GRANVILLE 

FARMS, LLC; SAGEBERRY FARMS, LLC; 

GRADON FARMS, LLC; MANNING AVENUE 

PISTACHIOS, LLC; ASSEMI AND SONS, 

INC.; WINSTON FARMS, LLC; FFGT FARMS, 

LLC; FAVIER RANCH, LLC; GRANTLAND 

FARMS, LLC; WHITESBRIDGE FARMS, LLC; 

ACAP FARMS, LLC; BEAR FLAG FARMS, 

LLC; COPPER AVENUE INVESTMENTS, 

LLC; WILLOW AVENUE INVESTMENTS, 

LLC; ASHLAN & HAYES INVESTMENTS, 

LLC; ASSEMI BROTHERS, LLC,

Defendants.

Case No. 1:24-cv-01105-KES-SAB

ORDER AMENDING RECEIVERSHIP 

ORDER

Docs. 32, 61

Hearing:

Date: December 17, 2024

Time: 1:30 p.m. PT

Location: Courtroom 6, 7th floor 

2500 Tulare Street

Fresno, CA 93721

Judge: Hon. Kirk E. Sherriff

Action Filed: September 17, 2024

Case 1:24-cv-01105-KES-SAB Document 87 Filed 12/17/24 Page 1 of 4
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Upon due consideration of Receiver David P. Stapleton’s Notice of Motion and Motion 

for Further Order Regarding Authority to Sell Crop Inventory (the “Motion”),

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the declarations of 

David Stapleton in support thereof, all responses thereto and replies in support thereof, if any, and 

the arguments of counsel at the hearing regarding the Motion, the Court hereby finds that:

A. On September 28, 2024, the Court entered an Order Appointing Receiver in the 

above-captioned matter at Doc. 32 (the “Receivership Order”). 

B. The Receivership Order authorizes the Receiver to sell or otherwise liquidate or 

dispose of any or all of the Inventory by public or private sale or such other method as deemed 

appropriate by the Receiver exercising business judgment, subject to certain terms and procedures 

set forth therein.

C. Good cause exists to enter a further order that confirms, clarifies or expands, as 

applicable, the Receiver’s authority under the Receivership Order to liquidate Inventory in the 

manner he has determined or may determine will maximize the value of that Receivership 

Property.

Having found the foregoing, 

IT IS ORDERED:

1. Notwithstanding the Sale Conditions in Paragraph 3 of the Receivership Order, the 

Receiver is authorized to enter into and consummate sales of Inventory on terms that do not

adhere to such Sale Conditions. 

2. Notwithstanding the Aggregate Price Cap in Paragraph 3(e) of the Receivership 

Order, the Receiver is authorized to enter into and consummate sales of Inventory on terms 

determined by the Receiver in his business judgment to maximize value, subject only to Plaintiff’s 

consent, regardless of whether such sale is below, at or above the Aggregate Price Cap.

3. In the event the Receiver, with the consent of Plaintiff, seeks to enter into a sale of 

Inventory that is (i) not consistent with and within the scope of Touchstone’s past commercial 

customs and practices, or (ii) at a sale price that is five percent (5%) or more below current market 

pricing for products of a similar quality:

1 Capitalized terms used but not defined herein have the meanings ascribed to them in the Motion.

Case 1:24-cv-01105-KES-SAB Document 87 Filed 12/17/24 Page 2 of 4
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a. The Receiver shall give seven (7) calendar days’ notice of such sale and the 

terms thereof (“Notice of Sale”) by electronic mail to counsel for the following parties in 

interest: the Guarantor Parties,2and the Prudential Receiver;

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b. In the event such a party objects to the proposed terms of sale, and such 

party attempts but cannot resolve such objection through good faith meet and confer with 

the Receiver, that party must file notice of such objection on or before five (5) calendar 

days after receipt of a Notice of Sale (“Objection Notice”);

c. The Receiver may in his discretion seek authorization from the Court to 

proceed with the sale, including seeking relief on an expedited basis, notwithstanding the 

Objection Notice; and

d. In the event such a party fails to file an Objection Notice by the deadline in 

paragraph 3(b) above, such party shall be deemed to have consented to the sale set forth in 

the Notice of Sale.

4. Concurrent with filing each monthly report pursuant to paragraph 37 of the 

Receivership Order, the Receiver shall provide the Prudential Receiver and the Guarantor Parties

with a chart summarizing Inventory sales for the subject month, including for each sale the gross 

purchase price of such sale, the crop year(s) sold, the pounds of crop sold, and any relevant 

quality metrics. The Receiver will confer with the Prudential Receiver and the Guarantor Parties 

regarding any requests by the Prudential Receiver and the Guarantor Parties for further 

information regarding such sales.

2 The term “Guarantor Parties” shall mean the following: Ashlan & Hayes Investments, LLC;

Darius Assemi; Farid Assemi; Farshid Assemi; Assemi Brothers, LLC; Darius Assemi, as Trustee 

of the Amended and Restated Darius Assemi Revocable Trust; Farid Assemi, as Trustee of the 

Amended and Restated Farid Assemi Revocable Trust, dated January 24, 2007; Farid Assemi, as 

Trustee of the Farshid Assemi 1997 Ranch Trust dated June 30, 1997; Farshid Assemi, Co-trustee 

of the Amended and Restated Farshid Assemi and Sonia Rosemary Assemi Revocable Trust dated 

January 31, 2007; Farshid Assemi, Co-trustee of the Farid Assemi 1997 Ranch Trust dated June 

30, 1997; Melissa Layne, as Trustee of the Farshid and Sonia Assemi 2010 Grantor Trust, dated 

December 30, 2010; Neema Assemi, Co-trustee of the Farid Assemi 1997 Ranch Trust dated June 

30, 1997; Neema Assemi, as Trustee of the Farid Assemi 2010 Grantor Trust, dated December 30, 

2010; and Sonia Assemi, Co-trustee of the Amended and Restated Farshid Assemi and Sonia 

Rosemary Assemi Revocable Trust dated January 31, 2007.

3 The term “Prudential Receiver” shall mean Lance Miller, in his capacity as receiver in that 

certain case entitled The Prudential Insurance Company of America, et al., v. ACDF, et al., No. 

1:24-cv-01102-KES-SAB (E.D. Cal.), or any successor trustee thereto.

Case 1:24-cv-01105-KES-SAB Document 87 Filed 12/17/24 Page 3 of 4
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5. All sales of Inventory authorized by the Court under the Receivership Order shall 

be free and clear of all liens, claims and encumbrances of the Growers, including any statutory 

Producer Liens, with all such liens (if any) to attach to the proceeds of such Inventory to the same 

extent, priority and validity as exist at the time of sale.

6. For purposes of clarity, (i) any liens of Yellow Hotel II LLC; Coleman Land Co.,

LLC; Firestone Farms LLC; Huron Nuts LLC; Porterville Nuts LLC; Pat Henry; Norag Nuts 

LLC; SLO Nuts LLC; and The Robert P. Schoettler and Joan C. Schoettler Revocable Trust; 

Costamagna Farms LLC; and Costamagna Farms No. 4 LLC; on product they delivered to 

Touchstone (or any other Inventory that has been commingled with such product) shall attach to 

the proceeds of sales of such product or Inventory to the same extent, priority and validity that 

existed at the time of sale, (ii) the proceeds of sales of such product or Inventory shall be 

sufficient to satisfy such liens in full, and (iii) any such proceeds shall be held by the Receiver and 

not disbursed without further order of the Court or as authorized in the Receivership Order.

7. The relief granted in this Order is effective as of the date of the Receiver’s 

appointment. 

8. To the extent of any inconsistency between the terms of this Order and the 

Receivership Order, the terms of this Order shall supersede. All other terms and conditions of the 

Receivership Order shall remain in full force and effect. 

IT IS SO ORDERED.

IT IS SO ORDERED.

Dated: December 17, 2024 

 UNITED STATES DISTRICT JUDGE

Case 1:24-cv-01105-KES-SAB Document 87 Filed 12/17/24 Page 4 of 4