UNITED STATES DISTRICT COURT

SOUTHERN DISTRICT OF FLORIDA

CASE NO. 12-62391-CIV-Cohn/Seltzer

FERERAL DEPOSIT INSURANCE

CORPORATION AS RECEIVER

FOR AMTRUST BANK,

Plaintiff,

vs.

RED DOOR TITLE INSURANCE AGENCY,

INC., and K.E.L. TITLE INSURANCE

GROUP, INC.,

Defendants,

_____________________________________/

JOINT STIPULATION OF SETTLEMENT, DISMISSAL WITH PREJUDICE,

AND REQUEST FOR ORDER APPROVING AND ADOPTING STIPULATION

Plaintiff Federal Deposit Insurance Corporation as Receiver for AmTrust Bank (“FDICR-AMT”) and Defendant K.E.L. Title Insurance Group, Inc., through its Receiver (“KEL 

Receiver”), collectively referred to hereinafter as the “Parties,” by and through their respective 

attorneys, hereby stipulate and agree to the following:

1. The Parties agree to settle and compromise this action under the terms and

conditions set forth herein.

2. FDIC-R-AMT filed this action against defendants Red Door Title Insurance 

Agency, Inc. (“Red Door”) and K.E.L. Title Insurance Group, Inc. (“KEL”) in this District 

pursuant to 28 U.S.C. § 1331 and 12 U.S.C. § 1819(b)(2)(A), which grant the Federal Deposit 

Insurance Corporation as receiver for a failed financial institution the right to litigate its claims in 

federal court (“Action”). 

Case 0:12-cv-62391-JIC Document 50 Entered on FLSD Docket 04/16/2019 Page 1 of 4
3. In a separate action before this Court styled Federal Deposit Insurance 

Corporation as Receiver for BankUnited vs. Red Door Title Insurance Agency, et al., case 

number 12-CV-21876 Seitz/Simonton (the “BankUnited Action”), FDIC as Receiver for 

BankUnited, F.S.B. (“FDIC-R-BU”) asserted similar but separate claims against KEL.

4. Pursuant to a consent order entered on or about October 30, 2012, the Florida 

Department of Financial Services was appointed receiver for KEL in a state court action styled 

In re: The Receivership of KEL Title Insurance Title Group, case number 2012-CA-3514, 

currently pending in the Leon County Circuit Court (“KEL Action”). The KEL Action is an 

insurer rehabilitation proceeding under Florida Statutes section 631.051. In November 2012, 

KEL filed a Notice of Filing Order of Rehabilitation and Notice of Automatic Stay, pursuant to 

which this Court ordered that the Action against KEL be stayed. (DE 29.) On July 1, 2013, this 

Court entered a default judgment against Red Door, but not against KEL, in favor of FDIC-RAMT. (DE 39.) 

5. In consideration of Plaintiff FDIC-R-AMT’s agreement that this Action shall be 

dismissed with prejudice, the KEL Receiver agrees that the FDIC-R-AMT shall share and be 

joined as a joint claimant with the FDIC-R-BU’s previously validated proof of claim (“POC”) in 

the amount of $501,786.38 (copy attached hereto as Exhibit A) solely and exclusively as a Class 

4 claimant under Florida Statute section 631.271(1)(d) in an insurer liquidation proceeding under 

Florida Statute section 631.061 filed with respect to KEL Title Insurance Group (hereinafter 

“Insurer Liquidation Proceeding”).

6. In connection with the settlement of the BankUnited Action, on or about August 

1, 2018 the KEL Receiver agreed and stipulated not to contest the POC or the amount of 

$501,786.38 sought by FDIC-R-BU in the Insurer Liquidation Proceeding (the “BankUnited 

Case 0:12-cv-62391-JIC Document 50 Entered on FLSD Docket 04/16/2019 Page 2 of 4
Stipulation of Settlement”). (DE109.) On August 6, 2018, Judge Williams (on behalf of Judge 

Seitz) approved and adopted the BankUnited Stipulation of Settlement. (DE111.) 

7. FDIC-R-AMT agrees that any recovery for the POC on behalf of itself and FDICR-BU shall be limited to funds available to Class 4 claimants in an Insurer Liquidation 

Proceeding.

8. FDIC-R-BU is fully informed regarding the aforesaid joining of its validated POC 

with that of FDIC-R-AMT in the Insurer Liquidation Proceeding and concurs with this 

Stipulation of Settlement and terms incorporated herein.

9. Execution of this Stipulation of Settlement by FDIC-R-AMT’s counsel and KEL 

Receiver’s counsel shall constitute a dismissal of this Action with prejudice pursuant to Federal 

Rule of Civil Procedure 41(a)(1)(A)(ii), except that the Court shall retain jurisdiction to enforce 

the terms of this Agreement. The parties request that the Court enter an Order Approving and 

Adopting this Stipulation.

10. Each Party shall bear its own fees and costs incurred in connection with the 

Action.

11. The Parties agree that an electronic or facsimile of the signature of the Parties and 

counsel will be the same as the original.

12. This Stipulation of Settlement may not be altered, modified, withdrawn, waived, 

rescinded or supplement except by written instrument executed by duly authorized 

representatives of both Parties.

13. The undersigned counsel represent that they are authorized to make this

agreement on behalf of their clients

Executed on this 16th day of April, 2019.

Case 0:12-cv-62391-JIC Document 50 Entered on FLSD Docket 04/16/2019 Page 3 of 4
Respectfully submitted,

McDonald Hopkins, LLC

Southeast Financial Center

200 South Biscayne Boulevard

Suite 2600

Miami, Florida 33131-2310

Telephone: (305) 704-3990

Facsimile: (305) 704-3999

Primary E-Mail: 

rshanzer@mcdonaldhopkins.com 

Secondary E-Mail: 

lfouche@mcdonaldhopkins.com

By: /s/ Regen J. Shanzer

Florida Bar No. 51558

Mark, Migdal & Hayden, LLC

80 SW 8th Street, Suite 1999

Miami, FL 33130

Telephone: (305) 374-0440

Josh A. Migdal, Esq. (Fl. Bar No. 19136)

josh@markmigdal.com

George T. Breur, Esq. (Fl. Bar No. 33283)

george@markmigdal.com

Counsel for Plaintiff Federal Deposit 

Insurance

Corporation as Receiver for AmTrust Bank

By:/s/ George T. Breur----------------------------

For the undersigned FDIC, as receiver for BankUnited which concurs with paragraphs 5-8 

above.

Mark, Migdal & Hayden, LLC

80 SW 8th Street, Suite 1999

Miami, FL 33130

Telephone: (305) 374-0440

Josh A. Migdal, Esq. (Fl. Bar No. 19136)

josh@markmigdal.com

George T. Breur, Esq. (Fl. Bar No. 33283)

george@markmigdal.com

Counsel for Plaintiff Federal Deposit Insurance

Corporation as Receiver for BankUnited

By:/s/ George T. Breur----------------------------

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