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

Filing 58

SUPPLEMENTAL ORDER IN AID OF RECEIVERSHIP signed by Chief Judge Lawrence J. O'Neill on May 6, 2016. (Munoz, I)

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1 2 3 4 5 6 7 8 9 10 11 12 13 UNITED STATES DISTRICT COURT 14 EASTERN DISTRICT OF CALIFORNIA 15 Case No. 1:16-cv-00344-LJO-JLT 16 SECURITIES AND EXCHANGE COMMISSION, SUPPLEMENTAL ORDER IN AID OF 17 Plaintiff, RECEIVERSHIP 18 v. 19 BIC REAL ESTATE DEVELOPMENT 20 CORPORATION and DANIEL R. NASE, individually and d/b/a 21 BAKERSFIELD INVESTMENT CLUB, 22 Defendants, 23 BIC SOLO 401K TRUST and MARGARITA NASE, 24 Relief Defendants. 25 26 27 28 The Motion of Receiver, David P. Stapleton (the "Receiver"), the Courtappointed Receiver for Defendants BIC Real Estate Development Corporation and 1 its subsidiaries and affiliates, including but not limited to, WM Petroleum; Target 2 Oil & Gas Drilling, Inc.; Tier 1 Solar Power Company; Tier 1 Solar Power 3 Company, LLC; and Home Sweet Holdings (collectively, the "Receivership 4 Entities"), for a Supplemental Order in Aid of Receivership (the "Motion") and any 5 response(s) thereto having been considered by the Court, this Court ORDERS as 6 follows: 7 1. The Motion is GRANTED, in its entirety; 8 2. The Court AUTHORIZES the Receiver to implement his proposed 9 procedures to protect the privacy of investors in the Receivership Entities, including; a. 10 Whenever a certificate of service contains addresses of 11 Receivership Entity investors ("Investors"), using only the first initial and last 12 name of any Investor, and redacting the street address before filing with the 13 Court; b. 14 15 Redacting any documents containing Investor email addresses before filing with the Court; c. 16 If and when a proof of claim form is devised for the filing of 17 claims by creditors in this case, including by Investors, and should any claim 18 objection be filed, redacting the last four digits of any EIN (federal employer 19 identification number) or social security numbers. Similarly, the Receiver 20 will redact personal account identifiers and the names of minor children, if 21 known, before any document is filed with the Court; 22 3. The Court AUTHORIZES the Receiver to use a receivership-specific 23 website, www.bicreceivership.com, and email, to provide information about the 24 receivership case and to provide notice of filings and other material developments to 25 all interested parties, in conjunction with, or in addition to, electronic notices, as 26 detailed in the concurrently-filed Memorandum of Points and Authorities; and 27 4. The Court AUTHORIZES the Receiver to administer the receivership 28 in accordance with generally accepted bankruptcy principles, as detailed in the 1 Memorandum of Points and Authorities filed in support of the Motion, and 2 AUTHORIZES the Receiver to submit interim reports and applications for interim 3 payment of fees and reimbursement of expenses approximately every 90 to 120 4 days. 5 6 IT IS SO ORDERED. 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 Dated: May 6, 2016 /s/ Lawrence J. O’Neill _____ UNITED STATES CHIEF DISTRICT JUDGE

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