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A blog about the economy and the Sacramento-area real estate market.

June 5, 2008
Judge nixes insurer's TRO against Sidney B. Dunmore
I am just back from federal court downtown, one of the newer arenas to do business pertaining to the Sacramento-area housing market.

karlton2.jpg, U.S. District Judge Lawrence Karlton turned down a request by Travelers Casualty and Surety Co. of America to stop local homebuilder Sidney B. Dunmore from selling several million dollars of his assets. The company, which has writs of attachments on Dunmore's $11 million home in Granite Bay and a $4 million house in Palm Desert, wanted a temporary restraining order blocking any sales.
 Travelers issued performance bonds guaranteeing completion of subdivisions started  by Dunmore Homes of Granite Bay before it was sold and declared bankruptcy late last year. Now Travelers faces millions of dollars in claims from Dunmore's unpaid subcontractors.

Judge Karlton made the decision just before 5 p.m. this evening following a brief hearing in his chambers. That hearing was closed to the public after the courtroom sound system malfunctioned and couldn't handle one of the legal parties appearing via telephone.

 Dunmore Homes attorney Debra Grassgreen from the San Francisco office of  Pachulski Stang Ziehl Jones confirmed the judge's decision. Attorneys for Travelers declined comment.

Dunmore has said in previous interviews with The Bee that he intends to settle his obligations with Travelers. The builder was the first to see his business fail
during a housing downturn soon to be entering its fourth year in the capital region.

  Image of Judge Karlton courtesy of law.com

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