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

Filing 169

MEMORANDUM DECISION and ORDER RE 164 Motion for Order Approving Settlement signed by Chief Judge Lawrence J. O'Neill on 3/4/2017. (Sant Agata, S)

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1 2 UNITED STATES DISTRICT COURT 3 FOR THE EASTERN DISTRICT OF CALIFORNIA 4 5 6 SECURITIES AND EXCHANGE COMMISSION, MEMORANDUM DECISION AND ORDER RE MOTION FOR ORDER APPROVING SETTLEMENT (Doc. 164) Plaintiff, 7 v. 8 9 1:16-CV-344-LJO-JLT BIC REAL ESTATE CORP., et al., Defendants. 10 11 12 On February 9, 2017, the Court-appointed Receiver filed a motion for an order approving a 13 settlement reached between him and Steel Holdings LLC, Brian Steele, and Nancy Steele (collectively, 14 the “Steeles”). Doc. 164-1. To date, the motion remains unopposed. The Court ORDERS that: 15 1. The Receiver’s motion is GRANTED in its entirety; and 16 2. The parties’ proposed settlement, as memorialized in the Settlement Agreement (Doc. 166-1), is APPROVED; 17 18 3. The Receiver and the Steeles are authorized to perform their respective obligations, as 19 defined in the Settlement Agreement, and to consummate the settlement as soon as 20 practicable; and 21 4. The hearing on the motion, currently set for March 9, 2017, is VACATED. 22 IT IS SO ORDERED. 23 Dated: /s/ Lawrence J. O’Neill _____ March 4, 2017 UNITED STATES CHIEF DISTRICT JUDGE 24 5. 25 1

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