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

Filing 252

ORDER Authorizing and Approving Receiver's Sales Procedures for Oil Company and Authorizing Receiver's Engagement of Oil Company Broker, signed by Chief Judge Lawrence J. O'Neill on 6/29/17. (Gonzalez, R)

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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 CORPORATION and DANIEL R.
NASE, individually and d/b/a
16 BAKERSFIELD INVESTMENT CLUB,
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Case No. 1:16-cv-00344-LJO-JLT
ORDER AUTHORIZING AND
APPROVING RECEIVER'S SALES
PROCEDURES FOR OIL COMPANY
AND AUTHORIZING RECEIVER'S
ENGAGEMENT OF OIL COMPANY
BROKER

Defendants,

18 BIC SOLO 401K TRUST and
MARGARITA NASE,
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Relief Defendants.
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The Court has reviewed the Motion for Order Authorizing and Approving

22 Sales Procedures for Oil Company and Authorizing Engagement of Oil Company
23 Broker (the "Motion") filed by David P. Stapleton (the "Receiver"), the court24 appointed permanent receiver for Defendant BIC Real Estate Development
25 Corporation and its subsidiaries and affiliates, including but not limited to, WM
26 Petroleum; Target Oil & Gas Drilling, Inc.; Tier 1 Solar Power Company; Tier 1
27 Solar Power Company, LLC; and Home Sweet Holdings (collectively, the
28 "Receivership Entities").

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The Motion came for hearing as noticed. Appearances, if any, were as stated

2 on the record. Having considered the Motion, and all its supporting materials, and
3 good cause appearing therefor,
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IT IS HEREBY ORDERED AS FOLLOWS:

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1.

The sales procedures proposed in the Motion are approved;

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2.

The Receiver is authorized to market and sell the Receivership Entities'

7 oil company assets (the "Oil Company Assets"), subject to Court-approval, pursuant
8 to the sales procedures proposed in the Motion; and
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3.

The Receiver is authorized to engage EnergyNet.com to serve and be

10 compensated as the Receiver's broker for, and assist in the marketing and sale of, the
11 Oil Company Assets, pursuant to the terms set forth in the Motion, and as reflected
12 in the Sale Brokerage/Consulting Agreement appended as Exhibit A to the
13 Receiver's declaration in support of the Motion.
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IT IS SO ORDERED.

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Dated:

/s/ Lawrence J. O’Neill _____

June 29, 2017

UNITED STATES CHIEF DISTRICT JUDGE

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