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

Filing 298

ORDER on Fourth Report and Petition for Further Instructions of Receiver, David P. Stapleton 295 , signed by Chief Judge Lawrence J. O'Neill on 10/5/17. (Hellings, J)

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UNITED STATES DISTRICT COURT

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EASTERN DISTRICT OF CALIFORNIA

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11 SECURITIES AND EXCHANGE

Case No. 1:16-cv-00344-LJO-JLT

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ORDER ON FOURTH REPORT AND
PETITION FOR FURTHER INSTRUCTIONS
OF RECEIVER, DAVID P. STAPLETON

COMMISSION,

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Plaintiff,
v.

(ECF No. 295)

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BIC REAL ESTATE DEVELOPMENT,
15 CORP., et al.,
Defendants.

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The Court has reviewed the Fourth Interim Report and Petition for Instructions (the

19 "Interim Report") of the Court-appointed Receiver, David P. Stapleton (the "Receiver"), the
20 permanent receiver for Defendant BIC Real Estate Development Corporation ("BIC") and its
21 subsidiaries and affiliates, including but not limited to WM Petroleum; Target Oil & Gas Drilling,
22 Inc.; Tier 1 Solar Power Company, Tier 1 Solar Power Company, LLC; and Home Sweet
23 Holdings (collectively, the "Receivership Entities" or "Entities").
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Having considered the Interim Report, and the Receiver's recommendations as reflected

25 therein, the Court ORDERS as follows:
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1.

The Receiver's Interim Report is accepted;

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2.

The Receiver's recommendations, as presented in the Interim Report, are accepted

28 and approved, and the Receiver is authorized to continue his administration of the Receivership

1 Entities and their assets consistent with the Receiver's recommendations in the Interim Report and
2 this Court's previous orders; and
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3.

The estimated budgets for the Receiver and his counsel of record, Allen Matkins

4 Leck Gamble Mallory & Natsis LLP ("Allen Matkins"), for the period from March 1, 2017
5 through December 31, 2017, are approved, and the Receiver and Allen Matkins are authorized to
6 incur the fees and costs identified therein.
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8 IT IS SO ORDERED.
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Dated:

/s/ Lawrence J. O’Neill _____

October 5, 2017

UNITED STATES CHIEF DISTRICT JUDGE

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