Municipal Credit Union v. CUMIS Insurance Society, Inc.

Background

Municipal Credit Union and the National Credit Union Administration Board, in its capacity as conservator of Municipal Credit Union, sued CUMIS Insurance Society, Inc. On June 30, 2021, the parties notified the court that they had reached an agreement in principle resolving all issues. The opinion does not describe the underlying claims or the settlement’s terms.

Order

The court canceled all previously scheduled conferences and other deadlines. It dismissed the case with prejudice and without costs, including attorney fees, to either party. A dismissal with prejudice generally bars bringing the same case again. The clerk was directed to terminate all open motions and close the case.

Possible Reopening and Settlement Enforcement

The parties could apply to reopen the case within 30 days, but the application had to show good cause for keeping the case open despite the settlement. The court warned that a request filed after 30 days or without a showing of good cause could be denied on that basis alone. The parties could also ask the court to retain jurisdiction—that is, continuing authority—to enforce their settlement agreement. To do so, they had to submit the agreement and request an order expressly retaining jurisdiction within the same 30-day period.

Disposition

Judge Valerie Caproni dismissed the case with prejudice and without costs, terminated the open motions, and directed that the case be closed, while allowing a timely application to reopen for good cause.