Opinion ID: 2563964
Heading Depth: 1
Heading Rank: 4

Heading: Ely's condemnation action

Text: Following the district court's denial of its summary judgment motion in V & S Railway's condemnation action, Ely filed a condemnation action against the LADWP, primarily arguing that the LADWP had failed to ratify the contract that they had negotiated and was attempting to increase the purchase price. In this action, Ely did not name V & S Railway as a party. Ely moved for immediate occupancy of the railroad, which the district court granted, contingent upon Ely's deposit of $500,000 with the district court. The $500,000 was added to the $250,000 Ely had already placed in escrow, totaling $750,000 paid toward acquiring the railroad. The LADWP and Ely ultimately entered into an asset-purchase-and-settlement agreement. The agreement specifically noted that it was intended to resolve the condemnation action that Ely had filed against the LADWP. According to the agreement, the purchase price was $1,500,000, minus the $750,000 already paid. Pursuant to the settlement agreement between the LADWP and Ely, the district court entered an order approving the parties' stipulated settlement. The order stated that it resolved all issues among the parties related to the railroad's acquisition but noted that it was not admissible in any other case for any other purpose. The same day, the district court also entered a judgment of condemnation in Ely's favor and dismissed the case.