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

Filing 444

ORDER GRANTING MOTION OF RECEIVER, DAVID P. STAPLETON, FOR ORDER AUTHORIZING FIRST INTERIM DISTRIBUTION ON ALLOWED, NON-SUBORDINATED CLAIMS 440 signed by Chief Judge Lawrence J. O'Neill on 12/01/2019. (Gonzales, V)

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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,

Case No. 1:16-cv-00344-LJO-JLT
ORDER GRANTING MOTION OF
RECEIVER, DAVID P. STAPLETON,
FOR ORDER AUTHORIZING FIRST
INTERIM DISTRIBUTION ON
ALLOWED, NON-SUBORDINATED
CLAIMS
(ECF No. 440)

Defendants,

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18 BIC SOLO 401K TRUST and
MARGARITA NASE,
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Relief Defendants.
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ORDER

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Before the Court is the Motion of Receiver, David P. Stapleton, for Order

23 Authorizing First Interim Distribution on Allowed, Non-Subordinated Claims (the
24 "Motion"). By the Motion, the Court-appointed permanent receiver, David P.
25 Stapleton (the "Receiver"), requests that this Court authorize him to make a first
26 interim, pro rata distribution in the aggregate amount of $1.5 million on non27 subordinated claims previously deemed allowed by the Court. ECF No. 440.
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1184376.01/LA

1 Plaintiff, the United States Securities and Exchange Commission, supports the
2 Motion. ECF No. 442.
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The Motion having been considered, and good cause appearing therefor, this

4 Court orders as follows:
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1.

The Motion is GRANTED, in its entirety; and

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2.

The Receiver is AUTHORIZED to make the first interim, pro rata

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distribution on allowed, non-subordinated claims, in the aggregate amount of

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$1.5 million and as recommended in the motion and presented in Exhibit 1 to

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the Receiver's contemporaneously filed, supporting declaration.

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IT IS SO ORDERED.
Dated:

/s/ Lawrence J. O’Neill _____

December 1, 2019

UNITED STATES CHIEF DISTRICT JUDGE

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1184376.01/LA

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