A hearing a week from Monday in federal court could have a huge impact on the race for Nevada's new congressional seat as the legal battle between the FDIC and Danny Tarkanian will come to a head.
Tarkanian, who is facing Steven Horsford in the CD4 race, is seeking to have a $17 million judgment set aside while the Federal Deposit Insurance Corporation wants the candidate to pay up tout de suite.
A lot has happened since I revealed the judgment two months ago:
June 25 -- The bank filed a "writ of execution" asking federal marshals to enforce the $17 million judgment, which is accuring interest at the amazing rate of $4,600 a day.
July 5 -- Tarkanian's attorneys filed a brief asking for a stay, accusing the bank and others of fraud and making various procedural arguments.
July 10 -- Five days later, Tarkanian, through his attorneys, filed a motion to set aside the judgment.
July 27 -- The FDIC filed a motion opposing the stay and said Tarkanian must at least post a bond while the legal process plays out. That same day, the FDIC also filed a motion against the plea to set aside the judgment.
I have posted some of the relevant documents at right.
The bottom line: Aug. 13 could prove to be the most important day in the CD4 race.