Elawyers Elawyers
Washington| Change

SECURITIES AND EXCHANGE COMMISSION v. BIC REAL ESTATE DEVELOPMENT CORPORATION, 1:16-cv-00344-LJO-JLT. (2016)

Court: District Court, E.D. California Number: infdco20160920705 Visitors: 8
Filed: Sep. 19, 2016
Latest Update: Sep. 19, 2016
Summary: ORDER GRANTING STIPULATION TO WAIVE REQUIREMENTS OF 28 U.S.C. 2001(a) AND (b) IN CONNECTION WITH, AND TO ESTABLISH SALES PROCEDURES FOR, RECEIVER'S SALES OF RESIDENTIAL REAL PROPERTY LAWRENCE J. O'NEILL , Chief District Judge . ORDER The Court has reviewed and considered the Stipulation to Waive Requirements of 28 U.S.C. 2001(a) and (b) in Connection with, and to Establish Sales Procedures For, Receiver's Sales of Residential Real Property (the "Stipulation") entered into by and betwe
More

ORDER GRANTING STIPULATION TO WAIVE REQUIREMENTS OF 28 U.S.C. § 2001(a) AND (b) IN CONNECTION WITH, AND TO ESTABLISH SALES PROCEDURES FOR, RECEIVER'S SALES OF RESIDENTIAL REAL PROPERTY

ORDER

The Court has reviewed and considered the Stipulation to Waive Requirements of 28 U.S.C. § 2001(a) and (b) in Connection with, and to Establish Sales Procedures For, Receiver's Sales of Residential Real Property (the "Stipulation") entered into by and between (1) David P. Stapleton (the "Receiver"), the Court-appointed receiver in the above-entitled matter; (2) Plaintiff Securities and Exchange Commission; and (3) Defendant Daniel R. Nase ("Mr. Nase") (collectively, the "Parties"). Good cause appearing therefor, the Court orders as follows:

1. The Stipulation is granted, in its entirety;

2. By agreement, the Parties have waived the requirements of 28 U.S.C. § 2001(a) and (b) in connection with the Receiver's anticipated sales of those residential real properties (the "Properties") included within the receivership estate established and governed by this Court's April 8, 2016 Stipulated Preliminary Injunction and Orders (1) Freezing Assets, and (2) Appointing a Permanent Receiver;

3. Accordingly, the Receiver is excused from compliance with 28 U.S.C. § 2001(a) and (b) in connection with the Receiver's anticipated sales of the Properties;

4. The Sales Procedures, as the term "Sales Procedures" is defined in the Stipulation, shall govern the Receiver's sales of all the Properties, unless otherwise ordered by the Court;

5. The Receiver may immediately commence the marketing and sale of the Properties in accordance with the Sales Procedures; and

6. The Parties retain and reserve any and all other of their respective rights arising in connection with the above-entitled action.

IT IS SO ORDERED.

Source:  Leagle

Can't find what you're looking for?

Post a free question on our public forum.
Ask a Question
Search for lawyers by practice areas.
Find a Lawyer