Case Overview:

• Parties Involved: Plaintiffs include Arlene McDowell and the Estate of Bryan Madryga. Defendants include Fortress Real Capital Inc., Fortress Real Developments Inc., and various individuals and entities associated with a syndicated mortgage loan.
• Nature of Proceedings: Class action seeking approval for a settlement agreement.

Key Legal Points:

• The Plaintiffs moved for approval of notices related to a settlement hearing and for establishing a protocol for disseminating these notices to class members.
• The notices include a Condensed Form and Short Form, aimed at informing putative class members about the settlement approval process.
• FAAN Mortgage Administrators Inc. is appointed as the Notice Administrator and will use its list of investors in the relevant real estate development project to disseminate the notices.
• FAAN is granted immunity from privacy breach claims related to using investor information for this purpose.
• The settlement approval hearing is scheduled for January 9, 2025.
• The court approved the notice dissemination plan as effective and proportionate, ensuring direct notice to all potential class members.

Outcome:

• The court granted the Plaintiffs’ motions and approved the proposed notices and protocols for settlement approval dissemination.
• The total monetary award, costs, or damages related to the settlement are not disclosed in the provided excerpts.

This decision allows the settlement process to proceed towards final approval in January 2025.