This website was last updated August 30, 2019, at 4:35 p.m.
Welcome to the website of the Permanent Receiver for Small Business Capital Corporation, Investors Prime Fund, LLC; and SBC Portfolio Fund, LLC, their subsidiaries and affiliates.
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This website has been established to facilitate efficient communications between investors, creditors, former employees, and other interested parties of Small Business Capital Corporation, Investors Prime Fund, LLC, and SBC Portfolio Fund, LLC, all of its subsidiaries and affiliates; and Thomas Seaman who is serving as their Receiver. Mr. Seaman was appointed as Receiver on June 26, 2012, by the Honorable Edward J. Davila, Judge of the United States District Court in a securities fraud enforcement action brought by the Securities and Exchange Commission (the "Commission").
The Commission alleged that the defendants violated federal securities laws. On June 26, 2012, Judge Davila ordered that the assets of Small Business Capital Corporation, Mark Feathers, Investors Prime Fund, LLC, and SBC Portfolio Fund, LLC, and subsidiaries and affiliates, be frozen and issued a TEMPORARY RESTRAINING ORDER AND ORDERS: (1) FREEZING ASSETS; (2) PROHIBITING THE DESTRUCTION OF DOCUMENTS; (3) GRANTING EXPEDITED DISCOVERY; (4) REQUIRING ACCOUNTINGS; AND (5) APPOINTING A TEMPORARY RECEIVER; AND AN ORDER TO SHOW CAUSE RE PRELIMINARY INJUNCTION AND APPOINTMENT OF PERMANENT RECEIVER (“TRO"). A copy of the Commission’s COMPLAINT can also be found on the Case Documents page. On August 16, 2013, the Court granted the Commission's Motion for Summary Judgment and found Mr. Feathers violated the securities laws. The Court subsequently issued an Order Granting In Part And Denying In Part Plaintiff's Motion For Injunctive Relief And Monetary Remedies [Dkt. No. 622] against Mr. Feathers for $7.783 million. A copy of the ORDER GRANTING SUMMARY JUDGMENT [Dkt. No. 591] and ORDER GRANTING IN PART AND DENYING IN PART PLAINTIFF'S MOTION FOR INJUNCTIVE RELIEF AND MONETARY REMEDIES [Dkt. No. 622] can be found in the Case Documents. Mr. Feathers has appealed the judgment. On May 30, 2014, a Securities and Exchange Commission Administrative Law Judge issued an INITIAL DECISION barring Mr. Feathers from the securities industry. Mr. Feathers has appealed the Initial Decision. In March 2014 the Receiver paid investors an initial distribution of $15 million. The Receiver is currently marketing the loan portfolios and SBA lending license and is hopeful that a sale can be concluded around December 1, 2014, with a second or perhaps final distribution to investors around the January to February 2015 timeframe.
Other questions involving the Receiver's role can be answered on the Frequently Asked Questions page.
RECEIVER'S MOST RECENT REPORTS TO THE COURT
NEW UPDATE!
FINAL CHECKS TO BE MAILED TUESDAY, SEPT. 3, 2019
The final checks to investors and creditors will be mailed from the Receiver's office on Tuesday, September 3, 2019.
ORDER CONCLUDING RECEIVERSHIP
The Court has approved the Receiver's request to make a final distribution and entered the Order Concluding Receivership, Discharging Receiver [Dkt. No. 1277]. The Receiver will be preparing the checks in approximately one week. Investors whose address has changed should immediately so notify the Receiver's office by sending an email to info@sbcapitalreceiver.com.
MOTION TO CONCLUDE RECEIVERSHIP
On August 2, 2019, the Receiver filed his NOTICE OF MOTION AND MOTION TO CONCLUDE RECEIVERSHIP AND FOR ORDER: APPROVING POST CLOSING ACCOUNTING AND REPORT; RELEASING FEATHERS RESERVE FUNDS; AUTHORIZING PAYMENT OF PROFESSIONAL FEES; AND DISCHARGING RECEIVER [Dkt. No. 1274] accompanied by his [PROPOSED] ORDER CONCLUDING RECEIVERSHIP: APPROVING POST CLOSING ACCOUNTING AND REPORT; RELEASING FEATHERS RESERVE FUNDS; AUTHORIZING PAYMENT OF PROFESSIONAL FEES; AND DISCHARGING RECEIVER [Dkt. No. 1274-1]. No hearing date is calendared. The Receiver has asked the Court to make one last final distribution of $437,210.51, which will bring the investors' recovery to 87% of their losses.
FINAL DISTRIBUTION CHECKS TO BE ISSUED BY APRIL 13, 2017
April 5, 2017: The Receiver is pleased to report that the Court has issued the final orders required to proceed with the final distribution. The Receiver will mail distribution checks on or before April 13, 2017.
EX PARTE APPLICATION FOR CLARIFICATION AND ORDER AUTHORIZING ADMINISTRATIVE PAYMENTS
On March 14, 2017, the Receiver filed his RECEIVER'S EX PARTE APPLICATION FOR CLARIFICATION AND ORDER AUTHORIZING ADMINISTRATIVE PAYMENTS [Dkt. No. 1241]. Filed with the motion is the [PROPOSED] ORDER GRANTING RECEIVER'S EX PARTE APPLICATION FOR CLARIFICATION AND ORDER AUTHORIZING ADMINISTRATIVE PAYMENTS [Dkt. No. 1241-1].
ORDER CONCLUDING RECEIVERSHIP; UPCOMING DISTRIBUTION
February 15, 2017: The hearing on the Receiver's motion to conclude the receivership, calendared for February 16, 2017, at 9:00 a.m., will not be held. The Court has granted the Receiver's motion to conclude the receivership in part (ORDER GRANTING RECEIVER'S MOTION TO CONCLUDE RECEIVERSHIP [Dkt. No. 1238]). The Court ordered the Receiver to retain an additional reserve of $200,000 for Mr. Feathers' legal fees pending resolution of his appeals. Therefore, the distribution to investors will be slightly less than contemplated in the Receiver's final accounting. Depending on the extent to which the reserves established by the Court are unused there may be one very small distribution to investors in the future. The Receiver is now taking the actions ordered by the Court which will result in a distribution to investors which the Receiver expects to complete within 30 days. To reduce wasting of the reserve for receivership expenses, please refrain from calling the Receiver's office. This website will be updated when the checks are mailed. If you have a change of address or payee, please send an email to the Receiver with the information needed to make such changes to: info@sbcapitalreceiver.com.
HEARING FOR RECEIVER'S MOTION TO CONCLUDE RECEIVERSHIP CONTINUED TO FEBRUARY 16, 2017
On December 16, 2016, the Receiver filed his EX PARTE APPLICATION TO AMEND THE RELIEF SOUGHT IN RECEIVER'S MOTION TO CONCLUDE RECEIVERSHIP AND FEE APPLICATIONS, ETC. [Dkt. No. 1226]. On December 20, 2016, the Court entered an ORDER GRANTING RECEIVER'S EX PARTE MOTION TO AMEND THE RELIEF SOUGHT IN RECEIVER'S MOTION TO CONCLUDE RECEIVERSHIP AND FEE APPLICATIONS OF THE RECEIVER AND ALLEN MATKINS; AND TO RE-SET VACATED HEARING DATE FOR FEBRUARY 16, 2017 [Dkt. No. 1227]. The Receiver has requested the Court to increase the reserve by $200,000 pending Feathers' request for legal fees in the criminal matter and granted the Receiver's request for a hearing date on February 16, 2017.
HEARING FOR RECEIVER'S MOTION TO CONCLUDE RECEIVERSHIP CONTINUED
November 17, 2016: As previously reported, the Court had continued the matter of the Receiver's discharge and final distribution to investors to November 17, 2016. The Court vacated the hearing date pending a decision in the criminal case against Mr. Feathers regarding his demand to use $200,000 of receivership proceeds. No future court dates have been set. The Court's [Dkt. No. 1224] ORDER RE MOTION TO DEFER RULING is in the case documents.
RECEIVER'S MOTION TO CONCLUDE RECEIVERSHIP CONTINUED TO NOVEMBER 17, 2016
On August 25, 2016, the Court held a hearing on the Receiver's motion to conclude the receivership and make a final distribution to investors and creditors (the "Receiver's Motion") [Dkt. No. 1164]. Included in the Receiver's Motion was a request for approval to include in the final distribution, the $200,000 (the "Reserve") which the Court had previously ordered to be set aside to cover a potential indemnity claim of Mr. Feathers' for legal expenses related to the SEC's civil action. The funds were to be used to reimburse Mr. Feathers for attorney's fees in the event that Mr. Feathers prevailed in the SEC's civil action and was successful in asserting an indemnity claim against the receivership entities. Mr. Feathers did not prevail in the SEC civil action.
Mr. Feathers objected to the Receiver's Motion and filed a separate motion ("Feather's Motion") in the criminal proceeding against him, (see, United States v. Mark Feathers, United States District Court, Northern District of California, Case No. 5:14-cr-00531-RMW), in which Mr. Feathers requested that the judge in the criminal proceeding require the Receiver to allow Mr. Feathers to use the Reserve in the civil case to pay his attorney's fees in the criminal case.
The Court took Receiver's Motion under submission and set the matter for further hearing on October 20, 2016, by which time the criminal court was expected to rule on the Feather's Motion. The criminal court did not rule on the Feather's Motion prior to October 20, 2016, and so Judge Davila continued the hearing on the Receiver's Motion to November 17, 2016.
ORDER SHORTENING TIME ON MOTION TO CONCLUDE RECEIVERSHIP AND FEE APPLICATIONS OF RECEIVER AND COUNSEL TO AUGUST 25, 2016
On July 7, 2016, Judge Davila entered his [Dkt. No. 1175] ORDER SHORTENING TIME ON MOTION TO CONCLUDE RECEIVERSHIP AND FEE APPLICATIONS OF RECEIVER AND ALLEN MATKINS. The order shortened the time until the hearing for the Receiver and his counsel's final fee applications and the Receiver's motion to conclude the receivership (posted below). The hearing date for those motions, which was originally calendared for October 20, 2016, is now calendared for August 25, 2016, at 9:00 a.m.
RECEIVER'S MOTION TO CONCLUDE RECEIVERSHIP
On June 23, 2016, the Receiver submitted his [Dkt. No. 1164] NOTICE OF MOTION AND MOTION TO CONCLUDE THE RECEIVERSHIP AND FOR ORDER to: (1) approve the sale of the Cline Judgment and California Business Bank ("CBB") Stock; (2) authorize the Receiver to establish a reserve and make administrative payments and final distributions to claimants; (3) approve stipulation related to the claim of the SBA; (4) approve final accounting and report; (5) approve destruction or transfer of books and records; (6) approve release of Feathers reserve funds; and (7) discharge the Receiver. The motion is supported by the [Dkt. No. 1164-1] DECLARATION OF THOMAS A. SEAMAN IN SUPPORT OF RECEIVER'S MOTION TO CONCLUDE RECEIVERSHIP. The Receiver and his counsel have filed their fee applications concurrently herewith and are posted below. The hearing of this motion is set for October 20, 2016, August 25, 2016, at 9:00 a.m.
FINAL FEE APPLICATIONS OF RECEIVER AND COUNSEL
On June 23, 2016, the Receiver filed his [Dkt. No. 1167] NOTICE OF HEARING ON FEE APPLICATIONS FOR APPROVAL AND PAYMENT OF COMPENSATION TO RECEIVER AND HIS PROFESSIONALS with the Court. The Receiver also filed his [Dkt. No. 1165] RECEIVER'S APPLICATION FOR APPROVAL AND PAYMENT OF FEES with the Court. The fee application details work performed by the Receiver from November 1, 2015, through the estimated conclusion of the receivership, July 31, 2016. The Receiver and his staff worked 938.3 hours executing the duties set forth in the Temporary Restraining Order and Order Appointing Receiver and subsequent orders of the Court. Exhibit A of the application details all fees sorted by task. Exhibit B of the application is a Summary By Timekeeper. Exhibit C is a Summary By Task. Exhibit D is a Standardized Fund Accounting Report reflecting the receipts and disbursements for the duration of the receivership. The Receiver seeks an order to approve payment of the detailed fees of the Final Fee Application Period plus fees which have previously been held back. The hearing of this fee application is set for October 20, 2016, August 25, 2016, at 9:00 a.m.
On June 23, 2016, the Receiver's attorneys, Allen Matkins LLP, filed their [Dkt. No. 1166] APPLICATION FOR APPROVAL OF FEES AND COSTS OF ALLEN MATKINS LECK GAMBLE MALLORY & NATSIS LLP, GENERAL COUNSEL TO RECEIVER with the Court. The fee application details 276.3 hours of work performed by the attorneys during the final application period from November 1, 2015, through June 30, 2016, on behalf of the receivership estate. The Receiver's attorneys seek an order authorizing the Receiver to pay all of the detailed fees and 100% of claimed costs during the final application period plus all fees which have been held back from previous fee applications. The hearing of this fee application is set for October 20, 2016, August 25, 2016, at 9:00 a.m.
MOTION FOR APPROVAL OF SETTLEMENT WITH CALIFORNIA BUSINESS BANK, ET AL
On April 25, 2016, the Receiver filed his [Dkt. No. 1159] NOTICE OF MOTION AND MOTION FOR APPROVAL OF SETTLEMENT WITH CALIFORNIA BUSINESS BANK, RAFFI D. KRIKORIAN, MICHAEL MALUCCIO, COLE W. MINNICK, JR., JANE AUSERWALD, MLADEN BUNTICH, STEVEN HONG, BIFF NAYLOR, PEGGY HANSEN, KENNETH THOMPSON, GARY K. CROSS, ELLWOOD JOHNSTON AND M. AARON YASHOUAFAR; DECLARATIONS OF THOMAS A. SEAMAN AND PATRICK E. BREEN IN SUPPORT OF MOTION FOR APPROVAL OF SETTLEMENT. The hearing to approve the settlement is calendared for June 30, 2016, at 9:00 a.m.
RECEIVER'S SIXTEENTH INTERIM REPORT
On April 8, 2016, the Receiver filed the [Dkt. No. 1158] RECEIVER'S SIXTEENTH INTERIM REPORT with the Court. The report provides a summary of the Receiver's actions over a three month period on behalf of the estate; an accounting for the quarter ending December 31, 2015, including a Profit and Loss Statement, Balance Sheet, a redacted detailed General Ledger; as well as inception-to-date reports.
ORDER APPROVING SALE OF 7(A) LOAN PORTFOLIO, SERVICING RIGHTS AND SBLC LICENSE
On February 25, 2016, the Court entered its [Dkt. No. 1157] Order Approving Sale of 7(a) Loan Portfolio, Servicing Rights and SBLC License. The sale is expected to close before the end of March 2016.
RECEIVER'S REPLY TO OPPOSITION OF MR. FEATHERS TO RECEIVER'S MOTION FOR APPROVAL OF SALE OF 7(A) LOAN PORTFOLIO
On February 10, 2016, the Receiver filed his [Dkt. No. 1152] RECEIVER'S REPLY TO OPPOSITION OF MR. FEATHERS TO RECEIVER'S MOTION FOR APPROVAL OF SALE OF 7(A) LOAN PORTFOLIO, SERVICING RIGHTS AND SBLC LICENSE. The hearing to approve the sale of the 7(A) loan portfolio, servicing rights and SBLC license is calendared for February 25, 2016, at 3:00 p.m.
DEFENDANT'S OPPOSITION TO RECEIVER'S MOTION FOR APPROVAL OF SALE OF 7(A) LOAN PORTFOLIO, SERVICING RIGHTS AND SBLC LICENSE
On February 5, 2016, the Defendant filed his [Dkt. No. 1149] FEATHERS' OPPOSITION TO RECEIVER'S MOTION FOR APPROVAL OF SALE OF 7(A) LOAN PORTFOLIO, SERVICING RIGHTS AND SBLC LICENSE (re Dkt. 1132). The hearing to approve the sale of the 7(a) Loan Portfolio and the SBLC License has been moved to February 25, 2016, at 3:00 p.m.
HEARING TO APPROVE SALE OF LOAN PORTFOLIO MOVED FORWARD TO FEBRUARY 25, 2016
On February 4, 2016, Judge Davila entered his [Dkt. No. 1142] CIVIL MINUTE ORDER which moved forward the hearing to approve the sale of the loan portfolio and SBLC license to February 25, 2016, at 3:00 p.m.
EX PARTE MOTION FOR ORDER SHORTENING TIME FOR HEARING RE 7(A) LOAN PORTFOLIO SALE
On February 2, 2016, the Receiver filed his [Dkt. No. 1138] EX PARTE MOTION FOR ORDER SHORTENING TIME FOR HEARING ON MOTION OF RECEIVER FOR APPROVAL OF SALE OF 7(A) LOAN PORTFOLIO, SERVICING RIGHT AND SBLC LICENSE [DKT. 1132]; DECLARATION OF RECEIVER, THOMAS A. SEAMAN, IN SUPPORT THEREOF; [PROPOSED] ORDER. The Receiver believes the value of the sale would be improved with an earlier hearing date than the current hearing calendared for April 14, 2016.
MOTION OF RECEIVER FOR APPROVAL OF SALE OF 7(A) LOAN PORTFOLIO AND SBLC LICENSE
On January 27, 2016, the Receiver filed his [Dkt. No. 1132] NOTICE OF MOTION AND MOTION OF RECEIVER FOR APPROVAL OF SALE OF 7(A) LOAN PORTFOLIO, SERVICING RIGHTS AND SBLC LICENSE; MEMORANDUM OF POINTS AND AUTHORITIES with accompanying [Dkt. No. 1132-1] PROPOSED ORDER APPROVING SALE OF 7(A) LOAN PORTFOLIO, SERVICING RIGHTS, AND SBLC LICENSE and [Dkt. No. 1132-2] PROOF OF SERVICE with the Court. Filed with the motion is the Receiver's [Dkt. No. 1133] DECLARATION OF THOMAS A. SEAMAN IN SUPPORT OF MOTION FOR APPROVAL OF SALE OF 7(A) LOAN PORTFOLIO, SERVICING RIGHTS, AND SBLC LICENSE with [Dkt. No. 1133-1] EXHIBIT A, [Dkt. No. 1133-2] EXHIBIT B, [Dkt. No. 1133-3] EXHIBIT C, [Dkt. No. 1133-4] PROOF OF SERVICE and [Dkt. No. 1134] REQUEST FOR JUDICIAL NOTICE IN SUPPORT OF RECEIVER'S MOTION TO APPROVE SALE OF 7(A) LOAN PORTFOLIO, SERVICING RIGHTS AND SBLC LICENSE. The hearing for this motion is calendared for April 14, 2016, at 8:30 a.m.
TWELFTH FEE APPLICATIONS OF RECEIVER AND COUNSEL
On January 21, 2016, the Receiver filed his [Dkt. No. 1130] NOTICE OF HEARING ON INTERIM FEE APPLICATIONS FOR APPROVAL AND PAYMENT OF COMPENSATION TO RECEIVER AND HIS PROFESSIONALS and [Dkt. No. 1131] PROOF OF SERVICE with the Court. The Receiver also filed his [Dkt. No. 1128] RECEIVER'S TWELFTH INTERIM FEE APPLICATION with the Court. The fee application details work performed by the Receiver from August 1, 2015, through October 31, 2015. The Receiver and his staff worked 654.1 hours executing the duties set forth in the Temporary Restraining Order and Order Appointing Receiver and subsequent orders of the Court. Exhibit A of the application details all fees sorted by task. Exhibit B of the application is a Summary By Timekeeper. Exhibit C is a Summary By Task. The Receiver seeks an order to approve payment of 90% of the detailed fees of the Twelfth Fee Application Period. The hearing of this fee application is set for June 30, 2016, at 9:00 a.m.
On January 21, 2016, the Receiver's attorneys, Allen Matkins LLP, filed their [Dkt. No. 1129] TWELFTH INTERIM FEE APPLICATION OF ALLEN MATKINS LECK GAMBLE MALLORY & NATSIS LLP, GENERAL COUNSEL TO THE RECEIVER and [Dkt. No. 1129-1] PROPOSED ORDER ON TWELFTH INTERIM FEE APPLICATION OF ALLEN MATKINS with the Court. The fee application details 266.7 hours of work performed by the attorneys from August 1, 2015, through October 31, 2015, on behalf of the receivership estate. The Receiver's attorneys seek an order authorizing the Receiver to pay 67% of the detailed fees and 100% of claimed costs. The hearing of this fee application is set for June 30, 2016, at 9:00 a.m.
RECEIVER'S FIFTEENTH INTERIM REPORT
On January 12, 2016, the Receiver filed the [Dkt. No. 1122] RECEIVER'S FIFTEENTH INTERIM REPORT with the Court. The report provides a summary of the Receiver's actions over the past three months on behalf of the estate; an accounting for the quarter ending September 30, 2015, including a Profit and Loss Statement, Balance Sheet, a redacted detailed General Ledger; as well as inception-to-date reports.
ADMINISTRATIVE MOTION FOR PAYMENT OF LOAN SERVICING COSTS FOR NOVEMBER 2015
On December 16, 2015, the Receiver filed his [Dkt. No. 1117] RECEIVER'S ADMINISTRATIVE MOTION FOR PAYMENT OF LOAN SERVICING COSTS FOR NOVEMBER 2015 with the Court.
ADMINISTRATIVE MOTION FOR PAYMENT OF LOAN SERVICING COSTS FOR OCTOBER 2015
On December 16, 2015, the Receiver filed his [Dkt. No. 1116] RECEIVER'S ADMINISTRATIVE MOTION FOR PAYMENT OF LOAN SERVICING COSTS FOR OCTOBER 2015 with the Court.
ORDERS APPROVING 10TH FEE APPLICATIONS
On November 16, 2015, Judge Davila entered his [Dkt. No. 1112] ORDER ON RECEIVER'S TENTH INTERIM FEE APPLICATION and his [Dkt. No. 1113] ORDER ON TENTH INTERIM FEE APPLICATION OF ALLEN MATKINS LECK GAMBLE MALLORY & NATSIS LLP, GENERAL COUNSEL TO THE RECEIVER with the Court.
ADMINISTRATIVE MOTION FOR PAYMENT OF LOAN SERVICING COSTS FOR SEPTEMBER 2015
On November 4, 2015, the Receiver filed his [Dkt. No. 1107] RECEIVER'S ADMINISTRATIVE MOTION FOR PAYMENT OF LOAN SERVICING COSTS FOR SEPTEMBER 2015 with the Court.
ADMINISTRATIVE MOTION FOR PAYMENT OF LOAN SERVICING COSTS FOR AUGUST 2015
On November 4, 2015, the Receiver filed his [Dkt. No. 1106] RECEIVER'S ADMINISTRATIVE MOTION FOR PAYMENT OF LOAN SERVICING COSTS FOR AUGUST 2015 with the Court.
ELEVENTH FEE APPLICATIONS OF RECEIVER AND COUNSEL
On October 14, 2015, the Receiver filed his [Dkt. No. 1094] NOTICE OF HEARING ON INTERIM FEE APPLICATIONS FOR APPROVAL AND PAYMENT OF COMPENSATION TO RECEIVER AND HIS PROFESSIONALS and [Dkt. No. 1095] PROOF OF SERVICE with the Court. The Receiver also filed his [Dkt. No. 1092] RECEIVER'S ELEVENTH INTERIM FEE APPLICATION with the Court. The fee application details work performed by the Receiver from May 1, 2015, through July 31, 2015. The Receiver and his staff worked 767.2 hours executing the duties set forth in the Temporary Restraining Order and Order Appointing Receiver and subsequent orders of the Court. Exhibit A of the application details all fees sorted by task. Exhibit B of the application is a Summary By Timekeeper. Exhibit C is a Summary By Task. The Receiver seeks an order to approve payment of 90% of the detailed fees of the Eleventh Fee Application Period. The hearing of this fee application is set for February 4, 2016, at 9:00 a.m.
On October 14, 2015, the Receiver's attorneys, Allen Matkins LLP, filed their [Dkt. No. 1093] ELEVENTH INTERIM FEE APPLICATION OF ALLEN MATKINS LECK GAMBLE MALLORY & NATSIS LLP, GENERAL COUNSEL TO THE RECEIVER with the Court. The fee application details 116.8 hours of work performed by the attorneys from May 1, 2015, through July 31, 2015, on behalf of the receivership estate. The Receiver's attorneys seek an order authorizing the Receiver to pay 64% of the detailed fees and 100% of claimed costs. The hearing of this fee application is set for February 4, 2016, at 9:00 a.m.
ADMINISTRATIVE MOTION FOR PAYMENT OF LOAN SERVICING COSTS FOR JULY 2015
On August 18, 2015, the Receiver filed his [Dkt. No. 1086] RECEIVER'S ADMINISTRATIVE MOTION FOR PAYMENT OF LOAN SERVICING COSTS FOR JULY 2015 with the Court.
ADMINISTRATIVE MOTION FOR PAYMENT OF LOAN SERVICING COSTS FOR JUNE 2015
On August 18, 2015, the Receiver filed his [Dkt. No. 1085] RECEIVER'S ADMINISTRATIVE MOTION FOR PAYMENT OF LOAN SERVICING COSTS FOR JUNE 2015 with the Court.
TENTH FEE APPLICATIONS OF RECEIVER AND COUNSEL
On July 31, 2015, the Receiver filed his [Dkt. No. 1079] NOTICE OF HEARING ON INTERIM FEE APPLICATIONS FOR APPROVAL AND PAYMENT OF COMPENSATION TO RECEIVER AND HIS PROFESSIONALS with the Court. The Receiver also filed his [Dkt. No. 1077] RECEIVER'S TENTH INTERIM FEE APPLICATION with the Court. The fee application details work performed by the Receiver from February 1, 2015, through April 30, 2015. The Receiver and his staff worked 750.8 hours executing the duties set forth in the Temporary Restraining Order and Order Appointing Receiver and subsequent orders of the Court. Exhibit A of the application details all fees sorted by task. Exhibit B of the application is a Summary By Timekeeper. Exhibit C is a Summary By Task. The Receiver seeks an order to approve payment of 90% of the detailed fees of the Tenth Fee Application Period. The hearing of this fee application is set for November 19, 2015, at 9:00 a.m.
On July 31, 2015, the Receiver's attorneys, Allen Matkins LLP, filed their [Dkt. No. 1078] TENTH INTERIM FEE APPLICATION OF ALLEN MATKINS LECK GAMBLE MALLORY & NATSIS LLP, GENERAL COUNSEL TO THE RECEIVER with the Court. The fee application details 75.6 hours of work performed by the attorneys from February 1, 2015, through April 30, 2015, on behalf of the receivership estate. The Receiver's attorneys seek an order authorizing the Receiver to pay 66% of the detailed fees and 100% of claimed costs. The hearing of this fee application is set for November 19, 2015, at 9:00 a.m.
RECEIVER'S FOURTEENTH INTERIM REPORT
On July 23, 2015, the Receiver filed the [Dkt. No. 1074] RECEIVER'S FOURTEENTH INTERIM REPORT with the Court. The report provides a summary of the Receiver's actions over the past three months on behalf of the estate; an accounting for the quarter ending June 30, 2015, including a Profit and Loss Statement, Balance Sheet, a redacted detailed General Ledger; as well as inception-to-date reports.
THIRD INTERIM DISTRIBUTION UPDATE
July 22, 2015: The Receiver is pleased to report that checks for the third interim distribution are being mailed tomorrow, July 23, 2015. As previously reported, the sale of the SBA 7-a loan portfolio and license was not concluded, however cash has continued to grow despite the delay in monetizing the remaining assets, and there are surplus funds in the amount of $2,500,000 that can be distributed to investors at this time. Investors can expect additional distributions following conclusion of sale of the remaining assets and resolution of potential liabilities of the receivership estate. The third interim distribution brings the total amount returned to investors to $24,500,000 thus far and brings all investors total recovery (i.e., any amounts paid prior to the appointment of a receiver and distributions made by the Receiver) to 64.7% of the amount invested. The Receiver will be filing his report and accounting for the quarter ending June 30, 2015, in the next few days.
ADMINISTRATIVE MOTION FOR PAYMENT OF LOAN SERVICING COSTS FOR MAY 2015
On July 10, 2015, the Receiver filed his [Dkt. No. 1072] RECEIVER'S ADMINISTRATIVE MOTION FOR PAYMENT OF LOAN SERVICING COSTS FOR MAY 2015 with the Court.
NOTICE TO QUALIFIED BIDDERS FOR THE SB CAPITAL 7-A LICENSE, 7-A LOAN PORTFOLIO AND SERVICING RIGHTS
On July 7, 2015, the Receiver updated the web site with his NOTICE TO QUALIFIED BIDDERS FOR THE SB CAPITAL 7-A LICENSE, 7-A LOAN PORTFOLIO AND SERVICING RIGHTS to provide investors with a status of the sales efforts and to provide notice of the sale process to prospective qualified bidders of the SBA license and loan portfolio.
RECEIVER'S SPECIAL REPORT CONCERNING ASSET SALE
On June 12, 2015, the Receiver filed his [Dkt. No. 1063] RECEIVER'S SPECIAL REPORT CONCERNING ASSET SALE in which he reports that the pending sale of the 7(a) loan portfolio will not be concluded because the SBA rescinded its prior approval of the buyer due to a material change in its application.
OTHER ANNOUNCEMENTS IN CHRONOLOGICAL ORDER
NINTH FEE APPLICATIONS OF RECEIVER AND COUNSEL
On June 12, 2015, the Receiver filed his [Dkt. No. 1061] NOTICE OF HEARING ON INTERIM FEE APPLICATIONS FOR APPROVAL AND PAYMENT OF COMPENSATION TO RECEIVER AND HIS PROFESSIONALS with the Court. The Receiver also filed his [Dkt. No. 1059] RECEIVER'S NINTH INTERIM FEE APPLICATION with the Court. The fee application details work performed by the Receiver from November 1, 2014, through January 31, 2015. The Receiver and his staff worked 1,119.9 hours executing the duties set forth in the Temporary Restraining Order and Order Appointing Receiver and subsequent orders of the Court. Exhibit A of the application details all fees sorted by task. Exhibit B of the application is a Summary By Timekeeper. Exhibit C is a Summary By Task. The Receiver seeks an order to approve payment of 90% of the detailed fees of the Ninth Fee Application Period. The hearing of this fee application is set for September 17, 2015, at 9:00 a.m.
On June 12, 2015, the Receiver's attorneys, Allen Matkins LLP, filed their [Dkt. No. 1060] NINTH INTERIM FEE APPLICATION OF ALLEN MATKINS LECK GAMBLE MALLORY & NATSIS LLP, GENERAL COUNSEL TO THE RECEIVER with the Court. The fee application details 122.8 hours of work performed by the attorneys from November 1, 2014, through January 31, 2015, on behalf of the receivership estate. The Receiver's attorneys seek an order authorizing the Receiver to pay 64% of the detailed fees and 100% of claimed costs. The hearing of this fee application is set for September 17, 2015, at 9:00 a.m.
RECEIVER'S THIRTEENTH INTERIM REPORT
On May 5, 2015, the Receiver filed the [Dkt. No. 1044] RECEIVER'S THIRTEENTH INTERIM REPORT with the Court. The report provides a summary of the Receiver's actions over the past three months on behalf of the estate; an accounting for the quarter ending March 31, 2015, including a Profit and Loss Statement, Balance Sheet, a redacted detailed General Ledger; as well as inception-to-date reports.
ORDER SHORTENING TIME ON MOTION FOR APPROVAL OF SALE OF 7(A) LOAN PORTFOLIO, SERVICING RIGHTS AND LICENSE
On April 10, 2015, Judge Davila entered his [Dkt. No. 1032] ORDER SHORTENING TIME ON MOTION OF RECEIVER FOR APPROVAL OF SALE OF 7(a) LOAN PORTFOLIO, SERVICING RIGHTS AND LICENSE with the Court. The order re-calendared the sale hearing for the 7(a) loan portfolio, servicing rights and license to May 7, 2015, at 10:00 a.m.
MOTION FOR APPROVAL OF SALE OF 7(a) LOAN PORTFOLIO, SERVICING RIGHTS AND SBLC LICENSE
On April 8, 2015, the Receiver filed his [Dkt. No. 1027] NOTICE OF MOTION AND MOTION OF RECEIVER FOR APPROVAL OF SALE OF 7(a) LOAN PORTFOLIO, SERVICING RIGHTS AND SBLC LICENSE; MEMORANDUM OF POINTS AND AUTHORITIES; AND [PROPOSED] ORDER with the Court. The motion for a hearing to approve the sale initially requested a hearing for May 28, 2015, but the hearing has since been changed to May 7, 2015, at 10:00 a.m.
FEATHERS' RESPONSE TO PROPOSED SALE OF 7(A) LOAN PORTFOLIO, SERVICING RIGHTS AND LICENSE
On April 22, 2015, Mark Feathers' filed his [Dkt. No. 1038] RESPONSE (RE 1027 MOTION FOR ORDER OF SALE - REQUEST FOR JUDICIAL NOTICE OF EXHIBITS AND MOTION FOR HEARING TO STAY AND DECLARATION OF MARK FEATHERS) with the Court. The response is supported by his [Dkt. No. 1038-1] RESPONSE EXHIBIT A, and [Dkt. No. 1040] ERRATA. The sale hearing for the 7(a) loan portfolio, servicing rights and license is calendared for May 7, 2015, at 10:00 a.m.
RECEIVER'S REPLY IN SUPPORT OF MOTION FOR APPROVAL OF SALE OF 7(a) LOAN PORTFOLIO, ETC.
On April 29, 2015, the Receiver filed his [Dkt. No. 1042] REPLY OF RECEIVER IN SUPPORT OF MOTION OF RECEIVER FOR APPROVAL OF SALE OF 7(a) LOAN PORTFOLIO, SERVICING RIGHTS AND SBLC LICENSE with the Court. The motion for a hearing to approve the sale has been calendared for May 7, 2015, at 10:00 a.m.
ADMINISTRATIVE MOTION FOR PAYMENT OF LOAN SERVICING COSTS FOR MARCH 2015
On April 23, 2015, the Receiver filed his [Dkt. No. 1039] RECEIVER'S ADMINISTRATIVE MOTION FOR PAYMENT OF LOAN SERVICING COSTS FOR MARCH 2015 with the Court.
ADMINISTRATIVE MOTION FOR PAYMENT OF LOAN SERVICING COSTS FOR FEBRUARY 2015
On April 13, 2015, the Receiver filed his [Dkt. No. 1033] RECEIVER'S ADMINISTRATIVE MOTION FOR PAYMENT OF LOAN SERVICING COSTS FOR FEBRUARY 2015 with the Court.
ADMINISTRATIVE MOTION FOR PAYMENT OF LOAN SERVICING COSTS FOR JANUARY 2015
On March 18, 2015, the Receiver filed his [Dkt. No. 1025] RECEIVER'S ADMINISTRATIVE MOTION FOR PAYMENT OF LOAN SERVICING COSTS FOR JANUARY 2015 with the Court.
EIGHTH FEE APPLICATIONS OF RECEIVER AND COUNSEL
On March 6, 2015, the Receiver filed his [Dkt. No. 1021] NOTICE OF HEARING ON INTERIM FEE APPLICATIONS FOR APPROVAL AND PAYMENT OF COMPENSATION TO RECEIVER AND HIS PROFESSIONALS with the Court. The Receiver also filed his [Dkt. No. 1019] RECEIVER'S EIGHTH INTERIM FEE APPLICATION with the Court. The fee application details work performed by the Receiver from August 1, 2014, through October 31, 2014. The Receiver and his staff worked 1,360.4 hours executing the duties set forth in the Temporary Restraining Order and Order Appointing Receiver and subsequent orders of the Court. Exhibit A of the application details all fees sorted by task. Exhibit B of the application is a Summary By Timekeeper. Exhibit C is a Summary By Task. The Receiver seeks an order to approve payment of 90% of the detailed fees of the Eighth Fee Application Period. The hearing of this fee application is set for June 18, 2015, at 9:00 a.m.
On March 6, 2015, the Receiver's attorneys, Allen Matkins LLP, filed their [Dkt. No. 1020] EIGHTH INTERIM FEE APPLICATION OF ALLEN MATKINS LECK GAMBLE MALLORY & NATSIS LLP, GENERAL COUNSEL TO THE RECEIVER with the Court. The fee application details 198.9 hours of work performed by the attorneys from August 1, 2014, through October 31, 2014, on behalf of the receivership estate. The Receiver's attorneys seek an order authorizing the Receiver to pay 69% of the detailed fees and 100% of claimed costs. The hearing of this fee application is set for June 18, 2015, at 9:00 a.m.
2nd DISTRIBUTION CHECKS TO BE MAILED FEBRUARY 4, 2015
February 3, 2015: The Receiver is pleased to announce that the second distribution of $7,000,000 is being made on February 4, 2015. Investors may expect to receive their checks in the mail shortly thereafter.
RECEIVER'S TWELFTH INTERIM REPORT
On January 27, 2015, the Receiver filed the [Dkt. No. 1011] RECEIVER'S TWELFTH INTERIM REPORT with the Court. The report provides a summary of the Receiver's actions over the past three months on behalf of the estate; an accounting for the quarter ending December 31, 2014, including a Profit and Loss Statement, Balance Sheet, a redacted detailed General Ledger; as well as inception-to-date reports.
ADMINISTRATIVE MOTION FOR PAYMENT OF LOAN SERVICING COSTS FOR DECEMBER 2014
On January 20, 2015, the Receiver filed his [Dkt. No. 1006] RECEIVER'S ADMINISTRATIVE MOTION FOR PAYMENT OF LOAN SERVICING COSTS FOR DECEMBER 2014 with the Court.
ADMINISTRATIVE MOTION FOR PAYMENT OF LOAN SERVICING COSTS FOR NOVEMBER 2014
On January 20, 2014, the Receiver filed his [Dkt. No. 998] RECEIVER'S ADMINISTRATIVE MOTION FOR PAYMENT OF LOAN SERVICING COSTS FOR NOVEMBER 2014 with the Court.
RECEIVER'S ELEVENTH INTERIM REPORT
On December 12, 2014, the Receiver filed the [Dkt. No. 992] RECEIVER'S ELEVENTH INTERIM REPORT with the Court. The report provides a summary of the Receiver's actions over the past three months on behalf of the estate; an accounting for the quarter ending September 30, 2014, including a Profit and Loss Statement, Balance Sheet, a redacted detailed General Ledger; as well as inception-to-date reports.
MOTION TO SELL 504/FMLP AND NON-SBA LOAN PORTFOLIOS
The Receiver has entered into a contract to sell the 504/FMLP and non-SBA loan portfolios subject to Court approval. The price for the 504/FMLP loans is 110% of the retained portion of the unpaid balance of the loans. The price for the non-SBA loans is 60% of the unpaid balance. The proceeds of the sale are expected to be approximately $8.0 million. The Receiver has filed a NOTICE OF MOTION AND MOTION TO APPROVE THE SALE [Dkt. No. 988], the DECLARATION OF THE RECEIVER IN SUPPORT OF THE MOTION [Dkt. No. 989] and the RECEIVER'S REQUEST THAT THE COURT HEAR THE MATTER EX PARTE [Dkt. No. 991] which the Court granted and the matter will be heard on January 8, 2015.
The Receiver will be requesting Court approval to make another distribution to investors from the proceeds of the sale which matter will be heard as soon as the Court sets the matter for hearing with a distribution shortly after an order is entered. The Receiver will request a hearing date of February 6, 2015, however, it is not yet certain that the Court will hear the matter that day.
The sale of the 7-A loans is still in process and best and final bids are due December 19, 2014. The sale will close after the SBA formally approves the bidder and the Court approves the sale.
ADMINISTRATIVE MOTION FOR PAYMENT OF LOAN SERVICING COSTS FOR OCTOBER 2014
On November 20, 2014, the Receiver filed his [Dkt. No. 983] RECEIVER'S ADMINISTRATIVE MOTION FOR PAYMENT OF LOAN SERVICING COSTS FOR OCTOBER 2014 with the Court.
SEVENTH FEE APPLICATIONS OF RECEIVER AND COUNSEL
On October 28, 2014, the Receiver filed his [Dkt. No. 968] NOTICE OF HEARING ON INTERIM FEE APPLICATIONS FOR APPROVAL AND PAYMENT OF COMPENSATION TO RECEIVER AND HIS PROFESSIONALS with the Court. The Receiver also filed his [Dkt. No. 966] RECEIVER'S SEVENTH INTERIM FEE APPLICATION with the Court. The fee application details work performed by the Receiver from May 1, 2014, through July 31, 2014. The Receiver and his staff worked 1,220.3 hours executing the duties set forth in the Temporary Restraining Order and Order Appointing Receiver and subsequent orders of the Court. Exhibit A of the application details all fees sorted by task. Exhibit B of the application is a Summary By Timekeeper. Exhibit C is a Summary By Task. The Receiver seeks an order to approve payment of 90% of the detailed fees of the Seventh Fee Application Period. The hearing of this fee application is set for February 5, 2015, at 9:00 a.m.
On October 28, 2014, the Receiver's attorneys, Allen Matkins LLP, filed their [Dkt. No. 967] SEVENTH INTERIM FEE APPLICATION OF ALLEN MATKINS LECK GAMBLE MALLORY & NATSIS LLP, GENERAL COUNSEL TO THE RECEIVER with the Court. The fee application details 278.6 hours of work performed by the attorneys from May 1, 2014, through July 31, 2014, on behalf of the receivership estate. The Receiver's attorneys seek an order authorizing the Receiver to pay 79% of the detailed fees and 100% of claimed costs. The hearing of this fee application is set for February 5, 2015, at 9:00 a.m.
ADMINISTRATIVE MOTION FOR PAYMENT OF LOAN SERVICING COSTS FOR SEPTEMBER 2014
On October 21, 2014, the Receiver filed his [Dkt. No. 964] RECEIVER'S ADMINISTRATIVE MOTION FOR PAYMENT OF LOAN SERVICING COSTS FOR SEPTEMBER 2014 with the Court.
ADMINISTRATIVE MOTION FOR PAYMENT OF LOAN SERVICING COSTS FOR AUGUST 2014
On September 17, 2014, the Receiver filed his [Dkt. No. 949] RECEIVER'S ADMINISTRATIVE MOTION FOR PAYMENT OF LOAN SERVICING COSTS FOR AUGUST 2014 with the Court.
RECEIVER'S TENTH INTERIM REPORT
On August 18, 2014, the Receiver filed the [Dkt. No. 944] RECEIVER'S TENTH INTERIM REPORT with the Court. The report provides a summary of the Receiver's actions over the past three months on behalf of the estate; an accounting for the quarter ending June 30, 2014, including a Profit and Loss Statement, Balance Sheet, a redacted detailed General Ledger; as well as inception-to-date reports.
SIXTH FEE APPLICATIONS OF RECEIVER AND COUNSEL
On July 9, 2014, the Receiver filed his [Dkt. No. 925] NOTICE OF HEARING ON INTERIM FEE APPLICATIONS FOR APPROVAL AND PAYMENT OF COMPENSATION TO RECEIVER AND HIS PROFESSIONALS with the Court. The Receiver also filed his [Dkt. No. 923] RECEIVER'S SIXTH INTERIM FEE APPLICATION with the Court. The fee application details work performed by the Receiver from February 1, 2014, through April 30, 2014. The Receiver and his staff worked 1,475.2 hours executing the duties set forth in the Temporary Restraining Order and Order Appointing Receiver and subsequent orders of the Court. Exhibit A of the application details all fees sorted by task. Exhibit B of the application is a Summary By Timekeeper. Exhibit C is a Summary By Task. The Receiver seeks an order to approve payment of 90% of the detailed fees of the Sixth Fee Application Period. The hearing of this fee application is calendared for August 22, 2014, at 9:00 a.m.
On July 9, 2014, the Receiver's attorneys, Allen Matkins LLP, filed their [Dkt. No. 924] SIXTH INTERIM FEE APPLICATION OF ALLEN MATKINS LECK GAMBLE MALLORY & NATSIS LLP, GENERAL COUNSEL TO THE RECEIVER with the Court. The fee application details 204.1 hours of work performed by the attorneys from February 1, 2014, through April 30, 2014, on behalf of the receivership estate. The Receiver's attorneys seek an order authorizing the Receiver to pay 79% of the detailed fees and 100% of claimed costs. The hearing of this fee application is set for August 22, 2014, at 9:00 a.m.
RECEIVER'S NINTH INTERIM REPORT
On May 15, 2014, the Receiver filed the [Dkt. No. 908] RECEIVER'S NINTH INTERIM REPORT with the Court. The report provides a summary of the Receiver's actions over the past three months on behalf of the estate; an accounting for the quarter ending March 31, 2014, including a Profit and Loss Statement, Balance Sheet, a redacted detailed General Ledger; as well as inception-to-date reports.
FIFTH FEE APPLICATIONS OF RECEIVER AND COUNSEL; MOTION FOR APPROVAL OF MONTHLY BUDGET FOR LOAN SERVICING
On May 6, 2014, the Receiver filed his [Dkt. No. 886] NOTICE OF HEARING ON INTERIM FEE APPLICATIONS FOR APPROVAL AND PAYMENT OF COMPENSATION TO RECEIVER AND HIS PROFESSIONALS with the Court. The hearing of this fee application is calendared for August 1, 2014, at 9:00 a.m.
On May 6, 2014, the Receiver filed his [Dkt. No. 884] RECEIVER'S FIFTH INTERIM FEE APPLICATION with the Court. The fee application details work performed by the Receiver from November 1, 2013, through January 31, 2014. The Receiver and his staff worked 1,096.9 hours executing the duties set forth in the Temporary Restraining Order and Order Appointing Receiver and subsequent orders of the Court. Exhibit A of the application details all fees sorted by task. Exhibit B of the application is a Summary By Timekeeper. Exhibit C is a Summary By Task. The Receiver seeks an order to approve payment of 90% of the detailed fees of the Fifth Fee Application Period. The hearing of this fee application is calendared for August 1, 2014, at 9:00 a.m.
On May 6, 2014, the Receiver's attorneys, Allen Matkins LLP, filed their [Dkt. No. 885] FIFTH INTERIM FEE APPLICATION OF ALLEN MATKINS LECK GAMBLE MALLORY & NATSIS LLP, GENERAL COUNSEL TO THE RECEIVER with the Court. The fee application details 376.6 hours of work performed by the attorneys from November 1, 2013, through January 31, 2014, on behalf of the receivership estate. The Receiver's attorneys seek an order authorizing the Receiver to pay 90% of the detailed fees and 100% of claimed costs. The hearing of this fee application is set for August 1, 2014, at 9:00 a.m.
On May 6, 2014, the Receiver also filed his [Dkt. No. 888] ADMINISTRATIVE MOTION FOR ORDER SHORTENING TIME ON FIFTH INTERIM FEE APPLICATIONS OF RECEIVER AND ALLEN MATKINS.
On May 6, 2014, the Receiver also filed his [Dkt. No. 889] ADMINISTRATIVE MOTION FOR APPROVAL OF MONTHLY BUDGET FOR LOAN SERVICING WORK.
ORDER DENYING FEATHERS’ MOTIONS FOR RECONSIDERATION; ADMINISTRATIVE ORDER
On April 15, 2014, the Court issued an order ([Dkt. No. 846] ORDER RE PENDING ADMINISTRATIVE MOTIONS DENYING 716, 722, 731, 745 MOTIONS FOR RECONSIDERATION) denying Mr. Feathers 1) [Dkt. No. 716] MOTION FOR RECONSIDERATION AND CLARIFICATION RE 675 ORDER ON ADMINISTRATIVE MOTION TO FILE UNDER SEAL; 2) [Dkt. No. 722] MOTION FOR RECONSIDERATION RE 711 ORDER ON MOTION FOR MISCELLANEOUS RELIEF; 3) [Dkt. No. 731] REQUEST FOR MOTION HEARING DATE, FOR RECONSIDERATION TO INITIATE A LAWSUIT IN STATE COURT AND REQUEST FOR HEARING FOR DISMISSAL OF THE RECEIVER; and 4) [Dkt. No. 745] MOTION FOR RECONSIDERATION RE 741 MOTION TO AMEND-CORRECT 714 ORDER, ADMINISTRATIVE MOTION FOR ENTRY OF SECOND AMENDED [PROPOSED] ORDER APPROVING OMNIBUS AND SPECIFIC CLAIM OBJECTIONS.
On March 5, 2014, the Receiver filed an opposition to Mr. Feathers’ motions: [Dkt. No. 736] RECEIVER'S OPPOSITION TO FEATHERS' EX PARTE APPLICATION FOR RECONSIDERATION AND CLARIFICATION OF THIS COURT'S ORDER (DKT. NO. 711) RE: RECEIVER'S PLAN OF DISTRIBUTIONS (DKT. NO. 628); and [Dkt. No. 737] DECLARATION OF THOMAS A. SEAMAN IN RESPONSE TO MOTION OF DEFENDANT MARK FEATHERS FOR CERTAIN MOTION HEARING DATES AND LEAVE TO SEEK RECONSIDERATION.
On March 11, 2014, the SEC also filed an opposition to Mr. Feathers’ motions: [Dkt. No. 761] PLAINTIFF SECURITIES AND EXCHANGE COMMISSION’S OPPOSITION TO MARK FEATHERS FOUR MOTIONS, IMPROPERLY NOTICED WITHOUT A HEARING DATE AND/OR IMPROPERLY NOTICED AS EX PARTE, WHICH ALL SEEK RECONSIDERATION OF VARIOUS COURT ORDERS (DOCKET NOS. 716, 722, 731, AND 745).
On April 15, 2014, the Court issued an order ([Dkt. No. 845] SECOND AMENDED ORDER APPROVING OMNIBUS AND SPECIFIC CLAIM OBJECTIONS) modifying its order of February 26, 2014 ([Dkt. No. 714] AMENDED ORDER APPROVING OMNIBUS AND SPECIFIC CLAIM OBJECTIONS), which incorrectly contained Mrs. Feathers name on the list of approved claimants, when the Court had previously denied her claims. The distribution governed by this order has already been paid out by the Receiver and Mrs. Feathers did not participate in the distribution.
RE: MOTION FOR APPROVAL OF SALE OF LOAN PORTFOLIOS AND SBA LENDING AUTHORITY; SEC’S MEMORANDUM IN SUPPORT; FEATHERS’ OPPOSITION; RECEIVER’S REPLY TO FEATHER’S OPPOSITION
Previously posted on March 12, 2014, was the Receiver’s [Dkt. No. 762] MOTION FOR (A) APPROVAL OF SALES PROCEDURES FOR LOAN PORTFOLIOS AND 7(a) LICENSE AND (B) AUTHORITY TO ENGAGE VOIT REAL ESTATE SERVICES LP AS BROKER. On March 26, 2014, after the Receiver filed his motion, the SEC filed its [Dkt. No. 809] PLAINTIFF SECURITIES AND EXCHANGE COMMISSION’S MEMORANDUM RE RECEIVER’S MOTION FOR (A) APPROVAL OF SALES PROCEDURES FOR LOAN PORTFOLIOS AND 7(a) LICENSE AND (B) AUTHORITY TO ENGAGE VOIT REAL ESTATE SERVICES LP AS BROKER. On March 26, 2014, Mr. Feathers filed his objection as [Dkt. No. 824] MARK FEATHERS OPPOSITION TO RECEIVERS MOTION (COURT DOCKET 762) TO SELL ASSETS OF THE RECEIVERSHIP ESTATE. The opposition is supported by exhibits, a declaration and a proposed order that are attached to the main document. On April 2, 2014, after Feathers’ opposition, the Receiver filed his [Dkt. No. 830] RECEIVER'S REPLY IN SUPPORT OF MOTION FOR APPROVAL OF PROCEDURES FOR SALE OF LOAN PORTFOLIOS AND SBA LENDING AUTHORITY. The hearing is calendared for April 25, 2014, at 9:00 a.m.
DISTRIBUTION CHECKS MAILED
The Receiver began mailing distribution checks to investors yesterday and the mailing will be completed today, Tuesday March 18, 2014. The amount of the check that investors will receive is equal to the 42.86109% of their original investment less any amounts received prior to the appointment of a receiver.
MOTION FOR APPROVAL OF SALES PROCEDURES FOR LOAN PORTFOLIOS AND SBA LICENSE
On March 12, 2014, the Receiver filed with the Court his [Dkt. No. 762] NOTICE OF MOTION AND MOTION FOR (A) APPROVAL OF SALES PROCEDURES FOR LOAN PORTFOLIOS AND 7(a) LICENSE AND (B) AUTHORITY TO ENGAGE VOIT REAL ESTATE SERVICES LP AS BROKER; MEMORANDUM OF POINTS AND AUTHORITIES. The motion is supported by the [Dkt. No. 762-1] DECLARATION OF PETER BEAUCHAMP IN SUPPORT OF RECEIVER'S MOTION FOR (A) APPROVAL OF SALES PROCEDURES FOR LOAN PORTFOLIOS AND 7(a) LICENSE, AND (B) AUTHORITY TO ENGAGE VOIT REAL STATE SERVICES LP AS BROKER; and, the [Dkt. No. 762-2] DECLARATION OF THOMAS A. SEAMAN IN SUPPORT OF MOTION FOR (A) APPROVAL OF SALES PROCEDURES FOR LOAN PORTFOLIOS AND 7(a) LICENSE AND (B) AUTHORITY TO ENGAGE VOIT REAL ESTATE SERVICES LP AS BROKER. The motion is calendared for April 25, 2014, at 9:00 a.m.
APPROVAL OF RECEIVER’S OMNIBUS AND SPECIFIC CLAIM OBJECTIONS; DISTRIBUTION PLAN
February 28, 2014: The Receiver is very pleased to report that the Court has approved the Receiver’s Omnibus And Specific Claim Objections ([Dkt. No. 714] AMENDED ORDER APPROVING OMNIBUS AND SPECIFIC CLAIM OBJECTIONS; vacated on April 15, 2014, and replaced by Dkt. No. 845 - see below) and Plan Of Distribution ([Dkt. No. 715] AMENDED ORDER APPROVING DISTRIBUTION PLAN AND AUTHORIZING INTERIM DISTRIBUTIONS), and has authorized the Receiver to make an interim distribution of $15 million. The Receiver expects to issue the checks within the next two to three weeks.
SECOND AMENDED ORDER APPROVING OMNIBUS AND SPECIFIC CLAIM OBJECTIONS
April 15, 2014 Update: Judge Davila vacated his prior [Dkt. No. 714] AMENDED ORDER APPROVING OMNIBUS AND SPECIFIC CLAIM OBJECTIONS; and entered his [Dkt. No. 845] SECOND AMENDED ORDER APPROVING OMNIBUS AND SPECIFIC CLAIM OBJECTIONS.
RECEIVER'S EIGHTH INTERIM REPORT
On January 30, 2014, the Receiver filed the RECEIVER'S EIGHTH INTERIM REPORT [Dkt. No. 689]. The report provides a summary of the Receiver’s actions over the past three months on behalf of the estate; an accounting for the quarter ending December 31, 2013, including a Profit and Loss Statement, Balance Sheet, a redacted detailed General Ledger; as well as inception-to-date reports.
NOTICE OF CONTINUING MOTIONS FOR HEARING
On January 23, 2014, the clerk of the Court filed his [Dkt. No. 683] CLERK'S NOTICE CONTINUING MOTIONS FOR HEARING. You are notified that the following motions by Receiver Thomas Seaman are continued from January 31, 2014, at 9:00 AM to February 14, 2014, at 9:00 AM:
(1) MOTION to Approve Omnibus and Specific Claim Objections (Docket Item No. 626)
(2) MOTION Notice of Motion and Motion for Approval of Distribution Plan and Authorization to Make Interim Distribution (Docket Item No. 628)
(3) MOTION Receiver's Fourth Interim Fee Application (Docket Item No. 646)
(4) MOTION Fourth Interim Fee Application of Allen Matkins Leck Gamble Mallory & Natsis LLP, General Counsel to the Receiver (Docket Item No. 647)
The hearing for these motions are now set for February 14, 2014, at 9:00 AM.
RECEIVER’S REPLIES TO OBJECTIONS TO MOTIONS FOR APPROVAL OF CLAIM OBJECTIONS, DISTRIBUTIONS
On December 6, 2013, the Receiver filed his [Dkt. No. 655] REPLY TO RESPONSES TO MOTION TO APPROVE OMNIBUS AND SPECIFIC CLAIM OBJECTIONS. On December 10, 2013, the Receiver filed with the Court his [Dkt. No. 657] REPLY TO RESPONSES TO MOTION FOR APPROVAL OF DISTRIBUTION PLAN AND AUTHORIZATION TO MAKE INTERIM DISTRIBUTIONS. The reply is supported by his [Dkt. No. 657-1] DECLARATION OF THOMAS A. SEAMAN IN SUPPORT REPLY TO RESPONSES TO MOTION FOR APPROVAL OF DISTRIBUTION PLAN AND AUTHORIZATION TO MAKE INTERIM DISTRIBUTIONS. The hearing date to approve claims objections, approve the distribution plan and to authorize an interim distribution has been calendared for February 14, 2014, at 9:00 a.m.
FOURTH FEE APPLICATIONS OF RECEIVER AND RECEIVER’S COUNSEL, ALLEN MATKINS LLP
On December 4, 2013, the Receiver filed his [Dkt. No. 648] NOTICE OF HEARING ON INTERIM FEE APPLICATIONS FOR APPROVAL AND PAYMENT OF COMPENSATION TO RECEIVER AND HIS PROFESSIONALS, and his [Dkt. No. 646] RECEIVER'S FOURTH INTERIM FEE APPLICATION with the Court. The fee application details work performed by the Receiver from August 1, 2013, through October 31, 2013. The Receiver and his staff worked 861.0 hours executing the duties set forth in the Temporary Restraining Order and Order Appointing Receiver and subsequent orders of the Court. Exhibit A of the application details all fees sorted by task. Exhibit B of the application is a Summary By Timekeeper. Exhibit C is a Summary By Task. The Receiver seeks an order to approve payment of 90% of the detailed fees of the Fourth Fee Application Period. The hearing of this fee application is set for February 14, 2014, at 9:00 a.m.
On December 4, 2013, the Receiver's attorneys, Allen Matkins LLP, filed their [Dkt. No. 647] FOURTH INTERIM FEE APPLICATION OF ALLEN MATKINS LECK GAMBLE MALLORY & NATSIS LLP, GENERAL COUNSEL TO THE RECEIVER with the Court. The fee application details 227.8 hours of work performed by the attorneys from August 31, 2013, through October 31, 2013, on behalf of the receivership estate. The Receiver’s attorneys seek an order authorizing the Receiver to pay 90% of the detailed fees and 100% of claimed costs. The hearing of this fee application is set for February 14, 2014, at 9:00 a.m.
SMALL BUSINESS ADMINISTRATION OBJECTION TO CLAIM OBJECTIONS AND INTERIM DISTRIBUTION
On November 27, 2013, the Small Business Administration filed with the Court their oppositions to the Receiver’s motion to approve claim objections and plan for an interim distribution. The filed documents include [Dkt. No. 632] OPPOSITION OF U.S. SMALL BUSINESS ADMINISTRATION TO RECEIVER’S MOTION TO APPROVE OMNIBUS AND SPECIFIC CLAIM OBJECTIONS; and [Dkt. No. 634] OPPOSITION OF U.S. SMALL BUSINESS ADMINISTRATION TO RECEIVER’S MOTION FOR APPROVAL OF DISTRIBUTION PLAN AND AUTHORIZATION TO MAKE INTERIM DISTRIBUTIONS.
NEW HEARING DATE OF FEBRUARY 14, 2014, RE CLAIMS OBJECTIONS, DISTRIBUTION PLAN, AUTHORIZATION OF AN INTERIM DISTRIBUTION On November 26, 2013, the Court entered its [Dkt. No. 631] ORDER SHORTENING TIME ON: 1) MOTION TO APPROVE OMNIBUS AND SPECIFIC CLAIM OBJECTIONS [re Dkt. No. 626] 2) MOTION FOR APPROVAL OF DISTRIBUTION PLAN AND AUTHORITY TO MAKE INTERIM DISTRIBUTIONS (re Dkt. No. 628). Consequently, the previous hearing date of April 25, 2014, has been canceled and the new hearing date to approve claims objections, approve the distribution plan and to authorize an interim distribution has been advanced to February 14, 2014, at 9:00 a.m.
MOTION TO APPROVE OMNIBUS AND SPECIFIC CLAIM OBJECTIONS; MOTION FOR APPROVAL OF DISTRIBUTION PLAN AND AUTHORIZATION TO MAKE INTERIM DISTRIBUTIONS
November 20, 2013 update: The Receiver is pleased to announce that he has filed an Omnibus and Specific Claims Objections motion (NOTICE OF MOTION AND MOTION TO APPROVE OMNIBUS AND SPECIFIC CLAIM OBJECTIONS [Dkt. No. 626]; and, DECLARATION OF THOMAS A. SEAMAN IN SUPPORT OF MOTION TO APPROVE OMNIBUS AND SPECIFIC CLAIM OBJECTIONS [Dkt. No. 626-1]), which recommends to the Court the amount of each claim so that the Court may establish the basis for distributions to investors and non-investor claimants. The Receiver has also filed a Distribution Plan and a motion to approve the Distribution Plan and authorize the Receiver make an interim distribution of $19 million (NOTICE OF MOTION AND MOTION FOR APPROVAL OF DISTRIBUTION PLAN AND AUTHORIZATION TO MAKE INTERIM DISTRIBUTIONS; MEMORANDUM OF POINTS AND AUTHORITIES [Dkt. No. 628]). The Receiver has been provided a hearing date of April 25, 2014 January 31, 2014. However, the Receiver is also filing an administrative motion for an order shortening time because allowing the Receiver to make the distribution of $19,000,000 sooner will significantly mitigate the losses suffered by investors.
If you oppose the Motion, you are required to file your written opposition with the Office of the Clerk, United States District Court, 280 South 1st Street, San Jose, California, 95113, and serve the same on the Receiver. All interested parties will receive notice of these motions and the final hearing date in the mail.
ORDER GRANTING IN PART AND DENYING IN PART PLAINTIFF’S MOTION FOR INJUNCTIVE RELIEF AND MONETARY REMEDIES
On November 6, 2013, Judge Davila entered his [Dkt. No. 622] ORDER GRANTING IN PART AND DENYING IN PART PLAINTIFF’S MOTION FOR INJUNCTIVE RELIEF AND MONETARY REMEDIES against the Defendant, Mark Feathers. The order includes a permanent injunction against violations of specific provisions of federal securities law, disgorgement of a total amount of $7,782,961.07, and a civil penalty in the amount of $10,000.
RECEIVER'S SEVENTH INTERIM REPORT
On October 18, 2013, the Receiver filed the RECEIVER'S SEVENTH INTERIM REPORT [Dkt. No. 618]. Items discussed in this Status Report include a summary of the Receiver’s actions over the past three months, an inventory of key assets of the receivership and an accounting as of September 30, 2013, including a Profit and Loss Statement, Balance Sheet, a redacted detailed General Ledger, as well as an inception-to-date accounting of the receivership. The report also summarizes the Receiver's recommendations for the management and disposition of receivership assets; and, the claims process and plan of distribution.
THIRD FEE APPLICATIONS OF RECEIVER AND RECEIVER’S COUNSEL, ALLEN MATKINS LLP
On September 20, 2013, the Receiver filed his [Dkt. No. 609] NOTICE OF HEARING ON INTERIM FEE APPLICATIONS FOR APPROVAL AND PAYMENT OF COMPENSATION TO RECEIVER AND HIS PROFESSIONALS, and his [Dkt. No. 607] RECEIVER'S THIRD INTERIM FEE APPLICATION with the Court. The fee application details work performed by the Receiver from January 1, 2013, through July 31, 2013. The Receiver and his staff worked 2,871.5 hours executing the duties set forth in the Temporary Restraining Order and Order Appointing Receiver and subsequent orders of the Court. Exhibit A of the application details all fees sorted by task. Exhibit B of the application is a Summary By Timekeeper. Exhibit C is a Summary By Task. The Receiver seeks an order to approve payment of 90% of the detailed fees of the Third Fee Application Period. The hearing of this fee application is set for November 22, 2013, at 9:00 a.m.
On September 20, 2013, the Receiver's attorneys, Allen Matkins LLP, filed their [Dkt. No. 608] THIRD INTERIM FEE APPLICATION OF ALLEN MATKINS LECK GAMBLE MALLORY & NATSIS LLP, GENERAL COUNSEL TO THE RECEIVER with the Court. The fee application details 736.20 hours of work performed by the attorneys from January 1, 2013, through July 31, 2013, on behalf of the receivership estate. The Receiver’s attorneys seek an order authorizing the Receiver to pay 90% of the detailed fees and 100% of claimed costs. The hearing of this fee application is set for November 22, 2013, at 9:00 a.m.
DEFENDANT’S AND SEC’S RESPONSES TO FEE APPLICATIONS OF RECEIVER AND COUNSEL
On September 27, 2013, the Defendant filed with the Court his [Dkt. No. 614] DEFENDANT’S OMNIBUS OPPOSITION REPLY ON RECEIVER’S AND RECEIVER’S COUNSEL REQUEST FOR PAYMENT; and his [Dkt. No. 615] DECLARATIONS OF MARK FEATHERS ACCOMPANYING RESPONSE RECEIVER’S AND RECEIVER’S COUNSELS REQUEST FOR APPROVAL OF THIRD PAYMENT.
On September 30, 2013, the SEC filed with the Court its [Dkt. No. 613] PLAINTIFF SECURITIES AND EXCHANGE COMMISSION’S CONSOLIDATED RESPONSE TO THE THIRD INTERIM FEE APPLICATIONS OF THE RECEIVER AND THE RECEIVER’S GENERAL COUNSEL, ALLEN MATKINS LECK GAMBLE MALLORY & NATSIS LLP. The hearing for the fee applications and responses are calendared for November 22, 2013, at 9:00 a.m.
On September 27, 2013, the Defendant filed with the Court his [Dkt. No. 614] DEFENDANT’S OMNIBUS OPPOSITION REPLY ON RECEIVER’S AND RECEIVER’S COUNSEL REQUEST FOR PAYMENT; and his [Dkt. No. 615] DECLARATIONS OF MARK FEATHERS ACCOMPANYING RESPONSE RECEIVER’S AND RECEIVER’S COUNSELS REQUEST FOR APPROVAL OF THIRD PAYMENT.
On September 30, 2013, the SEC filed with the Court its [Dkt. No. 613] PLAINTIFF SECURITIES AND EXCHANGE COMMISSION’S CONSOLIDATED RESPONSE TO THE THIRD INTERIM FEE APPLICATIONS OF THE RECEIVER AND THE RECEIVER’S GENERAL COUNSEL, ALLEN MATKINS LECK GAMBLE MALLORY & NATSIS LLP. The hearing for the fee applications and responses are calendared for November 22, 2013, at 9:00 a.m.
RECEIVER'S UPDATE OF AUGUST 27, 2013
The Receiver provides the following status update to the SB Capital Receivership as of August 27, 2013. Investor K-1s for the 2012 tax year will be mailed to investors on August 28, 2013. With the forensic accounting completed, the tax work finished, and with the SEC’s motion for summary judgment having recently been granted, the Receiver is now able to focus on determining creditor and investor claims with the goal of distributing cash collected by the Receiver to those with allowed claims. Review and reconciliation of claims filed by creditors, investors, and other parties is currently underway and will be completed within the next few weeks. The Receiver will then file a motion to have the Court determine the allowed amount of each claim. Thereafter, the Receiver will prepare and request Court approval of a Plan of Distribution, including authorization to make interim distributions to those with allowed claims.
In the meantime, the Receiver is preparing the remaining assets for sale and is consulting with the SBA accordingly. The Receiver is preparing a due diligence package for potential purchasers and evaluating processes to attain the highest and best value for the assets. Once this analysis is completed, the Receiver will seek Court approval of proposed sale procedures and confirmation of the sale.
The current cash in the receivership estate is approximately $16 million.
RECEIVER'S SIXTH INTERIM REPORT
On July 23, 2013, the Receiver filed the RECEIVER'S SIXTH INTERIM REPORT [Dkt. No. 581]. Items discussed in this Status Report include a summary of the Receiver’s actions over the past three months, an inventory of key assets of the receivership and an accounting as of June 30, 2013, including a Profit and Loss Statement, Balance Sheet, a redacted detailed General Ledger, as well as an inception-to-date accounting of the receivership. The report also summarizes the Receiver's recommendations for the management and disposition of receivership assets; and, the claims process and plan of distribution.
RECEIVER'S FORENSIC ACCOUNTING REPORT On June 27, 2013, the Receiver filed his RECEIVER'S FORENSIC ACCOUNTING REPORT. The accounting information presented herein covers the period from January 1, 2007, through the time of the Receiver’s appointment on June 26, 2012. The report is supported by EXHIBIT “A” SUMMARY OF SOURCES AND USES OF FUNDS; EXHIBIT “B” PROFIT & LOSS BY CLASS; EXHIBIT “C” BALANCE SHEET BY CLASS; ; EXHIBIT “E” GENERAL LEDGER; and EXHIBIT "F" TRANSACTIONS BY ACCOUNT.
DEFENDANT'S MOTION FOR SUMMARY JUDGMENT; SEC'S MOTION FOR SUMMARY JUDGMENT
On May 13, 2013, the Defendant filed with the Court his [DKT. 459] DEFENDANT’S MOTION FOR SUMMARY JUDGMENT, OR FOR PARTIAL SUMMARY JUDGMENT, OR IN THE ALTERNATIVE FOR AN ORDER TREATING SPECIFIED FACTS AS ESTABLISHED. The motion is supported by the [DKT. 460] DEFENDANT'S DECLARATION ACCOMPANYING REQUEST FOR SUMMARY JUDGMENT; the [DKT. 461] MEMORANDUM OF POINTS AND AUTHORITIES IN SUPPORT RE 459 MOTION FOR SUMMARY JUDGMENT; the [DKT. 461-1] EXHIBIT A; the [DKT. 462] ERRATA TO MEMORANDUM OF POINTS AND AUTHORITIES; and the [DKT. 462-1] ERRATA TO MEMORANDUM OF POINTS AND AUTHORITIES.
DEFENDANT'S MOTION FOR SUMMARY JUDGMENT; SEC'S MOTION FOR SUMMARY JUDGMENT
On May 13, 2013, the Defendant filed with the Court his [DKT. 459] DEFENDANT’S MOTION FOR SUMMARY JUDGMENT, OR FOR PARTIAL SUMMARY JUDGMENT, OR IN THE ALTERNATIVE FOR AN ORDER TREATING SPECIFIED FACTS AS ESTABLISHED. The motion is supported by the [DKT. 460] DEFENDANT'S DECLARATION ACCOMPANYING REQUEST FOR SUMMARY JUDGMENT; the [DKT. 461] MEMORANDUM OF POINTS AND AUTHORITIES IN SUPPORT RE 459 MOTION FOR SUMMARY JUDGMENT; the [DKT. 461-1] EXHIBIT A; the [DKT. 462] ERRATA TO MEMORANDUM OF POINTS AND AUTHORITIES; and the [DKT. 462-1] ERRATA TO MEMORANDUM OF POINTS AND AUTHORITIES.
DEFENDANT'S MOTION FOR SUMMARY JUDGMENT; SEC'S MOTION FOR SUMMARY JUDGMENT
On May 13, 2013, the Defendant filed with the Court his [DKT. 459] DEFENDANT’S MOTION FOR SUMMARY JUDGMENT, OR FOR PARTIAL SUMMARY JUDGMENT, OR IN THE ALTERNATIVE FOR AN ORDER TREATING SPECIFIED FACTS AS ESTABLISHED. The motion is supported by the [DKT. 460] DEFENDANT'S DECLARATION ACCOMPANYING REQUEST FOR SUMMARY JUDGMENT; the [DKT. 461] MEMORANDUM OF POINTS AND AUTHORITIES IN SUPPORT RE 459 MOTION FOR SUMMARY JUDGMENT; the [DKT. 461-1] EXHIBIT A; the [DKT. 462] ERRATA TO MEMORANDUM OF POINTS AND AUTHORITIES; and the [DKT. 462-1] ERRATA TO MEMORANDUM OF POINTS AND AUTHORITIES.
DEFENDANT'S MOTION FOR SUMMARY JUDGMENT; SEC'S MOTION FOR SUMMARY JUDGMENT
On May 13, 2013, the Defendant filed with the Court his [DKT. 459] DEFENDANT’S MOTION FOR SUMMARY JUDGMENT, OR FOR PARTIAL SUMMARY JUDGMENT, OR IN THE ALTERNATIVE FOR AN ORDER TREATING SPECIFIED FACTS AS ESTABLISHED. The motion is supported by the [DKT. 460] DEFENDANT'S DECLARATION ACCOMPANYING REQUEST FOR SUMMARY JUDGMENT; the [DKT. 461] MEMORANDUM OF POINTS AND AUTHORITIES IN SUPPORT RE 459 MOTION FOR SUMMARY JUDGMENT; the [DKT. 461-1] EXHIBIT A; the [DKT. 462] ERRATA TO MEMORANDUM OF POINTS AND AUTHORITIES; and the [DKT. 462-1] ERRATA TO MEMORANDUM OF POINTS AND AUTHORITIES.
On May 23, 2013, the Security Exchange Commission filed with the Court their [DKT. 477] PLAINTIFF SECURITIES AND EXCHANGE COMMISSION NOTICE OF MOTION AND MOTION FOR SUMMARY JUDGMENT AGAINST DEFENDANT MARK FEATHERS. The motion is supported by [DKT. 477-1] POINTS AND AUTHORITIES; and the [DKT. 477-2] (PROPOSED) FINAL JUDGMENT; as well as the following exhibits:
[DKT. 478] DECLARATION OF BARBARA BUSHEE
[DKT. 479] DECLARATION OF SARAH MITCHELL
[DKT. 480] DECLARATION OF JEFFREY SPIEGEL
[DKT. 480-1] EXHIBITS 1-15 TO DECLARATION OF JEFFREY SPIEGEL
[DKT. 480-2] EXHIBITS 16-25 TO DECLARATION OF JEFFREY SPIEGEL
[DKT. 480-3] EXHIBITS 26-27 TO DECLARATION OF JEFFREY SPIEGEL
[DKT. 480-4] EXHIBITS 28-45 TO DECLARATION OF JEFFREY SPIEGEL
[DKT. 480-5] EXHIBITS 46-58 TO DECLARATION OF JEFFREY SPIEGEL
[DKT. 480-6] PROOF OF SERVICE OF DECLARATION OF JEFFREY SPIEGEL
[DKT. 481] DECLARATION OF ROBERT MORRIS
[DKT. 481-1] EXHIBITS 118-123 TO DECLARATION OF ROBERT MORRIS
[DKT. 481-2] EXHIBITS 124-131 TO DECLARATION OF ROBERT MORRIS
[DKT. 481-3] EXHIBITS 132-141 TO DECLARATION OF ROBERT MORRIS
[DKT. 481-4] EXHIBITS 142-147 TO DECLARATION OF ROBERT MORRIS
[DKT. 481-5] EXHIBITS 148-153 TO DECLARATION OF ROBERT MORRIS
[DKT. 481-6] EXHIBITS 154-159 TO DECLARATION OF ROBERT MORRIS
[DKT. 481-7] EXHIBITS 160-163 TO DECLARATION OF ROBERT MORRIS
[DKT. 481-8] PROOF OF SERVICE OF DECLARATION OF ROBERT MORRIS
[DKT. 482] DECLARATION OF DAVID GRUEBELE
[DKT. 482-1] EXHIBITS 3-79 TO DECLARATION OF DAVID GRUEBELE
[DKT. 482-2] EXHIBITS 80-117 TO DECLARATION OF DAVID GRUEBELE
[DKT. 482-3] PROOF OF SERVICE OF DECLARATION OF DAVID GRUEBELE
[DKT. 483] DECLARATION OF JOHN B. BULGOZDY IN SUPPORT OF PLAINTIFF’S MOTION FOR SUMMARY JUDGMENT
[DKT. 483-1] EXHIBIT 172 TO DECLARATION OF JOHN B. BULGOZDY
[DKT. 483-2] EXHIBITS 173-174 TO DECLARATION OF JOHN B. BULGOZDY
[DKT. 483-3] EXHIBITS 175-176 TO DECLARATION OF JOHN B. BULGOZDY
[DKT. 483-4] EXHIBIT 177 TO DECLARATION OF JOHN B. BULGOZDY
[DKT. 483-5] EXHIBITS 178-180 TO DECLARATION OF JOHN B. BULGOZDY
[DKT. 483-6] EXHIBITS 181-182 TO DECLARATION OF JOHN B. BULGOZDY
[DKT. 483-7] EXHIBITS 183-184 TO DECLARATION OF JOHN B. BULGOZDY
[DKT. 483-8] EXHIBITS 185-186 TO DECLARATION OF JOHN B. BULGOZDY
[DKT. 483-9] EXHIBITS 187-216 TO DECLARATION OF JOHN B. BULGOZDY
[DKT. 483-10] EXHIBITS 217-219 TO DECLARATION OF JOHN B. BULGOZDY
[DKT. 483-11] PROOF OF SERVICE OF DECLARATION OF JOHN B. BULGOZDY
ORDER DENYING DEFENDANT'S MOTION FOR RECONSIDERATION (re DKT. 329)On May 10, 2013, the Court entered its [DKT. NO. 457] ORDER DENYING DEFENDANT'S MOTION FOR RECONSIDERATION (re DKT. 329). The order denied the Defendant's motion that the Court reconsider its previous [DKT. 70] ORDER DENYING REQUEST FOR LEGAL EXPENSES from September 26, 2012. ORDER AUTHORIZING RECEIVER TO SELL PROPERTIES; INSURANCE POLICY TERMINATION; MOTION TO DISMISS DENIED On May 10, 2013, Judge Davila entered his [DKT. NO. 454] CIVIL MINUTES OF MAY 10 HEARING and [DKT. NO. 456] ORDER AFTER MAY 10 HEARING. The minutes and orders covered several issues brought before the Court, specifically, the Receiver Thomas Seaman’s motion for order instructing defendant Mark Feathers to terminate an insurance policy and turn over cash value (Docket Item No. 177) is GRANTED; the Defendant Mark Feathers’ second amended motion to dismiss and motion for sanctions (Docket Item No. 275) is DENIED; and Receiver Thomas Seaman’s motion for authorization to sell the Natoma, Sweet Fingers and Whiskey Junction properties and accept a discounted payoff of the Four Brothers’ Inns loan (Docket Item No. 419) is GRANTED.
RECEIVER’S RESPONSE TO DEFENDANT’S OPPOSITION TO RECEIVER’S MOTION
On May 7, 2013, the Receiver filed his [Dkt 441] RECEIVER’S RESPONSE TO DEFENDANT MARK FEATHERS’ OPPOSITION TO RECEIVER’S MOTION FOR AUTHORITY TO: SELL NATOMA PROPERTY; SELL SWEET FINGERS PROPERTY; SELL WHISKEY JUNCTION PROPERTY; AND ACCEPT DISCOUNTED PAYOFF FROM THE FOUR BROTHERS INNS, LLC. The hearing is calendared for May 10, 2013, at 9 a.m.
HEARING TO SELL NATOMA, SWEET FINGERS & WHISKEY JUNCTION PROPERTIES AND ACCEPT DISCOUNTED PAYOFF OF FOUR BROTHERS INNS LOAN; SET FOR MAY 10, 2013
MOTION FOR AUTHORITY TO SELL NATOMA, SWEET FINGERS & WHISKEY JUNCTION PROPERTIES; ACCEPT DISCOUNTED PAYOFF RE FOUR BROTHERS INNS, LLC
On April 24, 2013, the Receiver filed with the Court his [DKT. 419] MOTION FOR AUTHORITY TO: (A) SELL NATOMA PROPERTY; (B) SELL SWEET FINGERS PROPERTY; (C) SELL WHISKEY JUNCTION PROPERTY; AND (D) ACCEPT DISCOUNTED PAYOFF FROM THE FOUR BROTHERS INNS, LLC. The motion is supported by the [DKT. 419-1] DECLARATION OF THOMAS A. SEAMAN IN SUPPORT OF MOTION FOR AUTHORITY TO: (A) SELL NATOMA PROPERTY; (B) SELL WHISKEY JUNCTION PROPERTY; (C) SELL SWEET FINGERS PROPERTY; AND (D) ACCEPT DISCOUNTED PAYOFF OF LOAN TO THE FOUR BROTHERS INNS, LLC. This motion is calendared for August 23, 2013, at 9:00 a.m. The Receiver also filed his [DKT. 420] EX PARTE APPLICATION FOR ORDER SHORTENING TIME ON MOTION FOR AUTHORITY TO: (A) SELL NATOMA PROPERTY; (B) SELL SWEET FINGERS PROPERTY; (C) SELL WHISKEY JUNCTION PROPERTY; (D) ACCEPT DISCOUNTED PAYOFF OF LOAN TO THE FOUR BROTHERS INNS, LLC.
RECEIVER'S FIFTH INTERIM REPORT
On April 15, 2013, the Receiver filed the RECEIVER'S FIFTH INTERIM REPORT [Dkt. No. 386]. Items discussed in this Status Report include a summary of the Receiver’s actions over the past three months, an inventory of key assets of the receivership and an accounting as of March 31, 2013, including a Profit and Loss Statement, Balance Sheet, a redacted detailed General Ledger, as well as an inception-to-date accounting of the receivership. The report also summarizes the Receiver's recommendations for the management and disposition of receivership assets; and, the claims process and plan of distribution. Also filed with the report is the [PROPOSED] ORDER APPROVING RECEIVER’S FIFTH INTERIM REPORT [Dkt. No. 386-1].
ORDER STRIKING IMPROPERLY FILED PLEADINGSOn April 12, 2013, Judge Davila entered his [DKT. 371] ORDER STRIKING IMPROPERLY FILED PLEADINGS. The Court has stricken opposition pleadings filed by investors who are not parties to the litigation and instructed them to be received in the same manner as letters. Moreover, the Court has previously stated that it will not read letters submitted by non-parties.
SECOND FEE APPLICATIONS OF RECEIVER AND RECEIVER’S COUNSEL, ALLEN MATKINS LLP
On April 4, 2013, the Receiver's attorneys, Allen Matkins LLP, filed their [Dkt. No. 339] SECOND INTERIM FEE APPLICATION OF ALLEN MATKINS LECK GAMBLE MALLORY & NATSIS LLP, GENERAL COUNSEL TO THE RECEIVER with the Court. The fee application details 262.1 hours of work performed by the attorneys from October 1, 2012, through December 31, 2012, on behalf of the receivership estate. The Receiver’s attorneys seek an order authorizing the Receiver to pay 90% of the detailed fees and 100% of claimed costs. The hearing of this fee application is set for July 5, 2013, at 9:00 a.m.
SECOND FEE APPLICATIONS OF RECEIVER AND COUNSEL: SEC RESPONSE; DEFENDANT’S OPPOSITION; RECEIVER AND COUNSEL’S REPLY TO OPPOSITIONOn April 18, 2013, the SEC filed with the Court their [DKT. 398] PLAINTIFF SECURITIES AND EXCHANGE COMMISSION’S CONSOLIDATED RESPONSE TO THE SECOND INTERIM FEE APPLICATIONS OF THE RECEIVER AND THE RECEIVER’S GENERAL COUNSEL, ALLEN MATKINS LECK GAMBLE MALLORY & NATSIS LLP. On April 18, 2013, the Defendant filed his [DKT. 399] DEFENDANT’S OPPOSITION REPLY ON RECEIVER’S MOTION FOR PAYMENTS and his [DKT. 400] DEFENDANT’S OPPOSITION REPLY ON RECEIVER’S COUNSEL’S MOTION FOR PAYMENT. The oppositions are supported by the [DKT. 401] DECLARATION OF MARK FEATHERS IN OPPOSITION TO RECEIVER’S COUNSEL’S MOTION FOR PAYMENT. On April 25, 2013, the Receiver filed his [DKT. 426] REPLY TO DEFENDANT MARK FEATHERS' OPPOSITION TO RECEIVER'S SECOND INTERIM FEE APPLICATION. The Receiver’s counsel, Allen Matkins, filed their [DKT. 427] REPLY TO DEFENDANT MARK FEATHERS' OPPOSITION TO SECOND INTERIM FEE APPLICATION OF ALLEN MATKINS LECK GAMBLE MALLORY & NATSIS LLP, GENERAL COUNSEL TO THE RECEIVER. The hearing on the fee applications has been re-calendared to July 5, 2013, at 2:00 p.m.
DEFENDANT’S OPPOSITION
ORDER GRANTING AUTHORITY TO ACCEPT PAYOFF OF BAY ROAD LOAN
SECOND FEE APPLICATIONS OF RECEIVER AND RECEIVER’S COUNSEL, ALLEN MATKINS LLP
On April 4, 2013, the Receiver filed his [Dkt. No. 340] NOTICE OF HEARING ON INTERIM FEE APPLICATIONS FOR APPROVAL AND PAYMENT OF COMPENSATION TO RECEIVER AND HIS PROFESSIONALS, and his [Dkt. No. 338] RECEIVER'S SECOND INTERIM FEE APPLICATION with the Court. The fee application details work performed by the Receiver from October 1, 2012, through December 31, 2012. The Receiver and his staff worked 1,019.1 hours executing the duties set forth in the Temporary Restraining Order and Order Appointing Receiver and subsequent orders of the Court. Exhibit A of the application details all fees sorted by task. Exhibit B of the application is a Summary By Timekeeper. Exhibit C is a Summary By Task. The Receiver seeks an order to approve payment of 90% of the detailed fees of the First Fee Application Period. The hearing of this fee application is set for July 5, 2013, at 9:00 a.m.
On April 4, 2013, the Receiver's attorneys, Allen Matkins LLP, filed their [Dkt. No. 339] SECOND INTERIM FEE APPLICATION OF ALLEN MATKINS LECK GAMBLE MALLORY & NATSIS LLP, GENERAL COUNSEL TO THE RECEIVER with the Court. The fee application details 262.1 hours of work performed by the attorneys from October 1, 2012, through December 31, 2012, on behalf of the receivership estate. The Receiver’s attorneys seek an order authorizing the Receiver to pay 90% of the detailed fees and 100% of claimed costs. The hearing of this fee application is set for July 5, 2013, at 9:00 a.m.
The letter informs members that the Funds will apply to the Internal Revenue Service and the California Franchise Tax Board for an extension until September 16, 2013, and October 15, 2013, respectively, to file the Funds’ 2012 federal and California income tax returns.
HEARING OF FEBRUARY 22, 2013; CIVIL MINUTES AND ORDER
On February 22, 2013, the Court ruled on several motions filed by Mr. Feathers. The Court denied all of Mr. Feathers’ motions except for his request for living expense which was granted for $5,000 per month and will be paid from the receivership estate for six months. The Court also stated that it had received many letters from investors and that the Court files them, but is not permitted to read them.
The Court took the Receiver’s matters under submission. After the hearing the Court entered its CIVIL MINUTES FOR THE FEBRUARY 22, 2013 HEARING.
DEFENDANT REQUESTS TRO AND INJUNCTION AGAINST PLAINTIFF’S USE OF THE WORD “PONZI”; COURT DENIES
On February 5, 2013, Defendant Mark Feathers filed his DEFENDANT’S EX PARTE REQUEST FOR TEMPORARY RESTRAINING ORDER AND INJUNCTION AGAINST PLAINTIFF’S USE OF THE WORD “PONZI”, AND AN ORDER FOR THE IMMEDIATE DISCONTINUATION OF ITS POSTINGS OF THE WORD “PONZI”.
On February 11, 2013, Judge Davila entered his ORDER DENYING DEFENDANT’S REQUEST FOR TEMPORARY RESTRAINING ORDER AND ORDER TO SHOW CAUSE FOR PRELIMINARY INJUNCTION.
RECEIVER'S PRELIMINARY FORENSIC ACCOUNTING REPORT AND PETITION FOR INSTRUCTION
On January 16, 2013, the Receiver filed his RECEIVER'S PRELIMINARY FORENSIC ACCOUNTING REPORT AND PETITION FOR INSTRUCTION. The report provides a status of completion of the accounting work, preliminary summary level information, an analysis of the cost of the accounting work and a petition for instruction directing the Receiver to complete the detailed compilation of cash based receipts and disbursements, or, should the information presented herein be deemed to sufficient by the Court, to stop the forensic accounting work to conserve receivership estate resources. The accounting information presented herein covers the period from January 1, 2007 through the time of the Receiver’s appointment on June 26, 2012.
DEFENDANT FEATHERS OPPOSITION TO PRELIMINARY FORENSIC ACCOUNTING
On January 16, 2013, Defendant Mark Feathers filed with the Court his DEFENDANT’S OPPOSITION TO COURT APPROVAL OF RECEIVER’S PRELIMINARY FORENSIC ACCOUNTING REPORT.
PLAINTIFF SEC’S OPPOSITION TO DEFENDANT’S MOTION TO DISMISS
RECEIVER'S FOURTH INTERIM REPORT
On January 15, 2013, the Receiver filed the RECEIVER’S FOURTH INTERIM REPORT. Items discussed in this Status Report include a summary of the Receiver’s actions over the past three months, an inventory of key assets of the receivership and an accounting as of December 31, 2012, including a Profit and Loss Statement, Balance Sheet, a redacted detailed General Ledger, as well as an inception-to-date accounting of the receivership. The report also summarizes the Receiver's recommendations for further investigation and activities, including; the management and disposition of receivership assets; and, the claims process and plan of distribution.
DEFENDANT’S MOTION FOR A REQUIREMENT FOR RECEIVERSHIP ESTATE TO ENJOIN A LEGAL ACTION; SEC’S OPPOSITION; RECEIVER’S RESPONSE
On January 3, 2013, defendant Mark Feathers filed with the Court his (1) REQUEST FOR A COURT ORDERED AMENDMENT TO THE ORDER AND INJUNCTION; AND, (2) MOTION FOR A REQUIREMENT FOR THE RECEIVERSHIP ESTATE TO ENJOIN A LEGAL ACTION.
On January 16, 2013, the SEC filed their PLAINTIFF SECURITIES AND EXCHANGE COMMISSION’S OPPOSITION TO DEFENDANT MARK FEATHERS’ REQUEST FOR A COURT ORDERED AMENDMENT TO THE ORDER AND INJUNCTION AND MOTION FOR A REQUIREMENT FOR THE RECEIVERSHIP ESTATE TO ENJOIN A LEGAL ACTION (DKT. NO. 156). The Receiver also filed his RECEIVER’S RESPONSE TO DEFENDANT FEATHERS’ MOTION FOR DEFENDANT FEATHERS’ MOTION FOR A REQUIREMENT FOR THE RECEIVERSHIP ESTATE TO ENJOIN IN A LEGAL ACTION. The hearing is calendared for February 22, 2013, at 9:00 a.m.
FIRST FEE APPLICATIONS OF RECEIVER AND RECEIVER’S COUNSEL, ALLEN MATKINS LLP
On December 6, 2012, the Receiver filed his NOTICE OF HEARING ON INTERIM FEE APPLICATIONS FOR APPROVAL AND PAYMENT OF COMPENSATION TO RECEIVER AND HIS PROFESSIONALS, and his RECEIVER'S FIRST INTERIM FEE APPLICATION with the Court. The fee application details work performed by the Receiver from June 1, 2012, through September 30, 2012. The Receiver and his staff worked 1,072.7 hours executing the duties set forth in the Temporary Restraining Order and Order Appointing Receiver and subsequent orders of the Court. Exhibit A of the application details all fees sorted by task. Exhibit B of the application is a Summary By Timekeeper. Exhibit C is a Summary By Task. The Receiver seeks an order to approve payment of 90% of the detailed fees of the First Fee Application Period. The hearing of this fee application is set for February 22, 2013, at 9:00 a.m. On December 6, 2012, the Receiver's attorneys, Allen Matkins LLP, filed their FIRST INTERIM FEE APPLICATION OF ALLEN MATKINS LECK GAMBLE MALLORY & NATSIS LLP, GENERAL COUNSEL TO THE RECEIVERFebruary with the Court. The fee application details 299.19 hours of work performed by the attorneys from June 26, 2012, through September 30, 2012, on behalf of the receivership estate. The Receiver’s attorneys seek an order authorizing the Receiver to pay 90% of the detailed fees and 100% of claimed costs. The hearing of this fee application is set for February 22, 2013, at 9:00 a.m.
DEFENDANT FEATHERS’ OPPOSITIONS TO FEE APPLICATIONS OF RECEIVER AND HIS COUNSEL
On December 10, 2012, Defendant Mark Feathers filed with the Court his DEFENDANT’S OPPOSITION REPLY ON RECEIVER’S MOTION FOR PAYMENTS (DOCKET NO. 134). On December 20, 2012, Defendant Mark Feathers filed with the Court his DEFENDANT’S OPPOSITION REPLY ON ALLEN MATKINS LECK GAMBLE MALLORY & NATSIS LLP’S (RECEIVER’S COUNSEL), MOTION FOR FIRST INTERIM PAYMENT (DOCKET NO. 135). isThe hearing of this fee application is set for February 22, 2013, at 9:00 a.m.
RECEIVER’S AND HIS COUNSEL’S REPLIES TO DEFENDANT’S OBJECTIONS TO FEE APPLICATIONS
On December 27, 2012, the Receiver filed with the Court his RESPONSE TO (A) OPPOSITION OF DEFENDANT MARK FEATHERS, (B) DECLARATION OF STEPHEN PAHL, (C) LETTER FROM HELEN HUNSAKER, (D) LETTER FROM CHARLOTTE WU, AND (E) LETTER FROM THE JEFF AND JANE SHEN TRUST REGARDING RECEIVER’S FIRST INTERIM FEE APPLICATION. The Receiver’s counsel, Allen Matkins, also filed their RESPONSE TO (A) OPPOSITION OF DEFENDANT MARK FEATHERS, AND (B) DECLARATION OF STEPHEN PAHL REGARDING ALLEN MATKINS’ FIRST INTERIM FEE APPLICATION. The hearing of this fee application is set for February 22, 2013, at 9:00 a.m.
RECEIVER’S AND SECURITIES EXCHANGE COMMISSION’S RESPONSES TO MOTIONS OF THE DEFENDANT MARK FEATHERS
On November 19, 2012, the Receiver filed his RECEIVER'S RESPONSE TO DEFENDANT MARK FEATHERS' MOTION TO DISMISS RECEIVER. The Receiver’s response is to the several motions Defendant Mark Feathers’ filed with the Court on November 5, 2012. Also on November 19, 2012, the Plaintiff, the Securities Exchange Commission, filed its PLAINTIFF SECURITIES AND EXCHANGE COMMISSION’S OMNIBUS OPPOSITION TO DEFENDANT MARK FEATHERS’S (1) MOTION TO DISMISS UNDER RULE 12(b)(2), (3), (4), (5), AND (6), RULE 8(d), AND RULE 9(a)(1)(B) (Dkt. No. 92), (2) MOTION TO DISMISS FOR CAUSE UNDER RULE 12(b) (Dkt. No. 93), AND (3) MOTION TO DISMISS RECEIVER (Dkt. No. 94); as well as its PLAINTIFF SECURITIES AND EXCHANGE COMMISSION’S OPPOSITION TO DEFENDANT MARK FEATHERS’ RULE 12(b)(6) MOTION TO DISMISS AND REQUEST FOR RULE 11 SANCTIONS (Dkt. No. 96). The hearing of the motion and responses is calendared for February 22, 2013.
MOTIONS FILED BY DEFENDANT FEATHERS
On November 5, 2012, Defendant Mark Feathers filed with the Court the following motions:
MOTION TO DISMISS UNDER F.R.C.P. 12(B)2,3,4,5,6; MOTION TO DISMISS UNDER F.R.C.P. 8(D) AND F.R.C.P. 9(A)1(B); F.R.C.P. RULE 12(B) MOTION TO DISMISS FOR CAUSE; MOTION TO DISMISS RECEIVER; and F.R.C.P. RULE 12(B)(6) MOTION TO DISMISS; F.R.C.P. REQUEST FOR RULE 11 SANCTIONS AGAINST PLAINTIFF.
RECEIVER'S THIRD INTERIM REPORT AND PETITION FOR INSTRUCTIONS
On October 12, 2012, the Receiver filed the RECEIVER'S THIRD INTERIM REPORT AND PETITION FOR INSTRUCTIONS. Items discussed in this Status Report include a summary of the Receiver’s actions over the past two months, an inventory of key assets of the receivership and an accounting as of September 30, 2012, including a Profit and Loss Statement, Balance Sheet, a redacted detailed General Ledger, as well as an inception-to-date accounting of the receivership. The report also summarizes the Receiver's recommendations for further investigation and activities, including; document recovery efforts; receivership asset recovery efforts and investigation; management and disposition of receivership assets; and providing accounting and reporting to the Court.
ORDER DENYING REQUEST FOR LEGAL EXPENSES
ORDER GRANTING ADMINISTRATIVE RELIEF UNDER CIVIL L.R. 7-11
DEFENDANT'S ANSWER TO COMPLAINT AND DEMAND FOR JURY TRIAL
RECEIVER'S MOTION FOR ADMINISTRATIVE RELIEF
RECEIVER’S EX PARTE APPLICATION FOR AUTHORITY TO COMPLETE POOLING TRANSACTIONS FOR TWO EXISTING LOANS
DEFENDANT'S REPLY TO LETTER BRIEFS OF THE SEC'S AND THE RECEIVER'S OPPOSITION TO USE OF RECEIVERSHIP ASSETS FOR DEFENSE
LETTER BRIEFS REGARDING DEFENDANT'S REQUEST FOR RECEIVERSHIP FUNDS FOR LEGAL DEFENSEOn August 3, 2012, the Defendant's attorneys filed with the Court FEATHERS' ATTORNEYS' LETTER BRIEF requesting receivership funds for the defense of Mr. Feathers. On August 10, 2012, the SEC submitted the SEC LETTER BRIEF in opposition to Feathers' request for use of receivership funds for his defense. The Receiver also submitted the RECEIVER'S LETTER BRIEF.
RECEIVER'S SECOND INTERIM REPORT AND PETITION FOR INSTRUCTIONS
On August 10, 2012, the Receiver filed the RECEIVER'S SECOND INTERIM REPORT AND PETITION FOR INSTRUCTIONS. Items discussed in this Status Report include a summary of the Receiver’s actions over the past month, an inventory of key assets of the receivership and an accounting as of July 31, 2012, including a Profit and Loss Statement, Balance Sheet and a redacted detailed General Ledger. The report also summarizes the Receiver's recommendations for further investigation and activities, including; document recovery efforts; receivership asset recovery efforts and investigation; management and disposition of receivership assets; and providing accounting and reporting to the Court.
APPOINTMENT OF THOMAS SEAMAN AS PERMANENT RECEIVER; PRELIMINARY INJUNCTION AND ORDERS
TEMPORARY RECEIVER'S FIRST STATUS REPORT AND INVENTORY
On July 9, 2012, the Temporary Receiver filed his TEMPORARY RECEIVER'S FIRST STATUS REPORT AND INVENTORY. A hearing on the case is scheduled for July 10, 2012, at 10:00 a.m., before Judge Davila, in Courtroom 4 on the 5 th Floor of the US District Courthouse located at 280 S. 1st St., San Jose, CA 95113.
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