Securities and Exchange Commission v. BIC Real Estate Development Corporation et al

Filing 122

ORDER MODIFYING Preliminary Injunction to Release Real Properties signed by Chief Judge Lawrence J. O'Neill on 11/30/2016. (Sant Agata, S)

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UNITED STATES DISTRICT COURT

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EASTERN DISTRICT OF CALIFORNIA

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11 SECURITIES AND EXCHANGE
COMMISSION,
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Plaintiff,
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v.
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BIC REAL ESTATE DEVELOPMENT,
15 CORP., et al.,
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Case No. 1:16-cv-00344-LJO-JLT
ORDER MODIFYING PRELIMINARY
INJUNCTION TO RELEASE REAL
PROPERTIES

Defendants.

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The Court has reviewed and considered the Stipulation to Modify Preliminary

21 Injunction to Release Real Properties entered into by and between (1) the Plaintiff
22 Securities and Exchange Commission; (2) Defendant Daniel Nase; and (3) David P.
23 Stapleton (the "Receiver"), the permanent receiver for Defendant BIC Real Estate
24 Development Corporation and its subsidiaries and affiliates, including but not
25 limited to WM Petroleum; Target Oil & Gas Drilling, Inc.; Tier 1 Solar Power
26 Company, Tier 1 Solar Power Company, LLC; and Home Sweet Holdings
27 (collectively, the "Receivership Entities"). Good cause appearing therefor, the
28 Court ORDERS as follows:

1. The property located at 1137 Mornington Avenue, Bakersfield, CA

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93307 shall be released from the asset freeze imposed by the Court's

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April 8, 2016 Stipulated Preliminary Injunction and Orders (1)

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Freezing Assets, and (2) Appointing a Permanent Receiver (the

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"Preliminary Injunction"), and shall no longer fall within the ambit of

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the receivership estate;

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2. The property located at 3724 Verdugo Lane, Bakersfield, CA 93312

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shall be released from the asset freeze imposed by the Preliminary

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Injunction, and shall no longer fall within the ambit of the receivership
estate; and

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3. All other provisions of the Court's prior orders remain in full force and

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effect.

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14 IT IS SO ORDERED.
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Dated:

November 30, 2016

/s/ Lawrence J. O’Neill _____
UNITED STATES CHIEF DISTRICT JUDGE