IN RE SAGUARO RANCH DEVELOPMENT CORPORATION

On March 29, 2011, the court held a hearing on the Debtors' motion for a stay pending appeal and on the Debtors' newly amended Chapter 11 plan (the "Third Amended Plan"). The court granted the Debtors a temporary stay until the Debtors can request a stay from an appellate court. The court also set an evidentiary hearing on the Third Amended Plan for May 16, 2011. The court instructed the Debtor to upload a form of order consistent with the court's ruling.

On April 5, 2011 (DE 582), the Debtors lodged a single proposed order that granted the stay and set the evidentiary hearing (the "Combined Order"). On April 6, 2011, the court notified Debtors' counsel that it wanted two separate orders uploaded. On April 7, 2011 (DE 588), Kennedy Funding and Anglo-American Financial ("Kennedy Funding") filed a limited objection to the Combined Order. The objection requests that the court set a date certain for the filing of an amended disclosure statement for the Third Amended Plan and asks the court to set a date certain by which the Debtors must file a motion for stay pending appeal before the appellate court.

On April 7, 2011, the Debtor uploaded two different orders: one granting an interim stay pending appeal (the "Stay Order"), and one setting a confirmation hearing date (the "Confirmation Hearing Order"). The court signed and docketed both orders at 9:54 a.m. on April 7. At 10:04 a.m., Kennedy Funding filed objections to both orders (the "Objections") (DE 591), raising the same issues as raised in the objection to the Combined Order. On April 8, 2011 (DE 594), the Debtors filed a response to Kennedy Funding's Objections and moved for an expedited hearing (DE 597).

No expedited hearing will be set because the court finds no cause to grant the relief requested by Kennedy Funding. Separate orders will be entered this date overruling the Objections.

Notice Recipients District/Off: 0970-4 User: mccormij Date Created: 4/13/2011 Case: 4:09-bk-02490-EWH Form ID: pdf008 Total: 4 Recipients of Notice of Electronic Filing: ust U.S. TRUSTEE USTPRegion14.PX.ECF@USDOJ.GOV aty ERIC SLOCUM SPARKS eric@ericslocumsparkspc.com aty GEORGE O. KRAUJA gkrauja@fclaw.com TOTAL: 3 Recipients submitted to the BNC (Bankruptcy Noticing Center): db SAGUARO RANCH DEVELOPMENT CORPORATION P.O. BOX 70207 TUCSON, AZ 85737 TOTAL: 1