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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1 2 3 4 5 6 7 8 UNITED STATES DISTRICT COURT 9 EASTERN DISTRICT OF CALIFORNIA 10 11 SECURITIES AND EXCHANGE Case No. 1:16-cv-00344-LJO-JLT 12 ORDER ON FOURTH REPORT AND PETITION FOR FURTHER INSTRUCTIONS OF RECEIVER, DAVID P. STAPLETON COMMISSION, 13 Plaintiff, v. (ECF No. 295) 14 BIC REAL ESTATE DEVELOPMENT, 15 CORP., et al., Defendants. 16 17 18 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"). 24 Having considered the Interim Report, and the Receiver's recommendations as reflected 25 therein, the Court ORDERS as follows: 26 1. The Receiver's Interim Report is accepted; 27 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 3 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. 7 8 IT IS SO ORDERED. 9 10 Dated: /s/ Lawrence J. O’Neill _____ October 5, 2017 UNITED STATES CHIEF DISTRICT JUDGE 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 -2

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