Howden-Goetzl v. Superior Court

Opinion

CHRISTIAN, J.

Petitioners seek a writ of mandate to compel respondent court to set aside its order expunging a notice of lis pendens or to increase the amount of the undertaking from $10,000 to $670,000.

Petitioners are plaintiffs in a shareholders’ derivative action on behalf of Educational Securities Corporation (ESC), attacking a refinancing transaction and foreclosure proceeding whereby the defendants (real parties herein) obtained title to ESC’s major asset, a proprietary hospital.

Under the refinancing transaction, real party Western Urban Redevelopment Corporation and High-Far…