Filed: Aug. 29, 2018
Latest Update: Aug. 29, 2018
Summary: ORDER DIRECTING THE RECEIVER AND REMAINING PARTIES TO FILE A JOINT STATUS REPORT JAMES L. ROBART , District Judge . Following the entry of final judgment against Defendant Lobsang Dargey and Relief Defendant Path Othello, LLC ( see Final Judgment (Dkt. # 509)), the court directed all remaining parties to file a joint status report stating what issues remained for trial and a proposing case schedule to bring this matter to resolution (JSR Order (Dkt. # 557)). On June 28, 2017, Plaintiff Sec
Summary: ORDER DIRECTING THE RECEIVER AND REMAINING PARTIES TO FILE A JOINT STATUS REPORT JAMES L. ROBART , District Judge . Following the entry of final judgment against Defendant Lobsang Dargey and Relief Defendant Path Othello, LLC ( see Final Judgment (Dkt. # 509)), the court directed all remaining parties to file a joint status report stating what issues remained for trial and a proposing case schedule to bring this matter to resolution (JSR Order (Dkt. # 557)). On June 28, 2017, Plaintiff Secu..
More
ORDER DIRECTING THE RECEIVER AND REMAINING PARTIES TO FILE A JOINT STATUS REPORT
JAMES L. ROBART, District Judge.
Following the entry of final judgment against Defendant Lobsang Dargey and Relief Defendant Path Othello, LLC (see Final Judgment (Dkt. # 509)), the court directed all remaining parties to file a joint status report stating what issues remained for trial and a proposing case schedule to bring this matter to resolution (JSR Order (Dkt. # 557)). On June 28, 2017, Plaintiff Securities and Exchange Commission ("the SEC") and Receiver Michael A. Grassmueck ("the Receiver") responded to the court's order. (JSR (Dkt. # 564).) At that time, the Receiver and the SEC asked the court to vacate the trial date because both the Receiver and SEC expected "the remaining parties . . . to request resolution of the SEC's claims by consent judgments." (Id. at 2.)
The parties also proposed that the Receiver continue to administer the estate. (Id.) The outstanding issues related to the estate and noted at that time were (1) Grassmueck v. Zhou Yan, No. C17-0794JLR, which is now dismissed; (2) Grassmueck v. Potala Village, LLC, No. C17-0236JLR, which is on appeal to the Ninth Circuit; (3) the sale of the Kirkland property owned by Potala Village, which was approved on July 11, 2017 (7/11/17 Order (Dkt. # 569)); (4) the sale of the Shoreline property owned by Potala Shoreline, LLC, which was approved on February 21, 2018 (2/21/18 Order (Dkt. # 618)); and (5) completion of the claims and distribution process, which the Receiver estimated was unlikely to occur prior to the spring of 2018. (JSR at 2-3.)
As noted above, many of the items listed by the parties in their June 28, 2017, joint status report are now complete. Further, the court is mindful of the continuing costs of administering the estate. (See Orders granting various fee applications (Dkt. ## 260, 344, 418, 463, 513, 558, 583, 609, 619, 629, and 641).) Accordingly, the court ORDERS the parties to file a joint status report within fourteen (14) days of the date of this order detailing the remaining items necessary to bring this matter to resolution and proposing a schedule for accomplishing the same.
