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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UNITED STATES DISTRICT COURT
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EASTERN DISTRICT OF CALIFORNIA
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Case No. 1:16-cv-00344-LJO-JLT
16 SECURITIES AND EXCHANGE
COMMISSION,
SUPPLEMENTAL ORDER IN AID OF
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Plaintiff,
RECEIVERSHIP
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v.
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BIC REAL ESTATE DEVELOPMENT
20 CORPORATION and DANIEL R.
NASE, individually and d/b/a
21 BAKERSFIELD INVESTMENT CLUB,
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Defendants,
23 BIC SOLO 401K TRUST and
MARGARITA NASE,
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Relief Defendants.
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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:
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1.
The Motion is GRANTED, in its entirety;
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2.
The Court AUTHORIZES the Receiver to implement his proposed
9 procedures to protect the privacy of investors in the Receivership Entities, including;
a.
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Whenever a certificate of service contains addresses of
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Receivership Entity investors ("Investors"), using only the first initial and last
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name of any Investor, and redacting the street address before filing with the
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Court;
b.
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Redacting any documents containing Investor email addresses
before filing with the Court;
c.
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If and when a proof of claim form is devised for the filing of
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claims by creditors in this case, including by Investors, and should any claim
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objection be filed, redacting the last four digits of any EIN (federal employer
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identification number) or social security numbers. Similarly, the Receiver
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will redact personal account identifiers and the names of minor children, if
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known, before any document is filed with the Court;
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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
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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.
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6 IT IS SO ORDERED.
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Dated:
May 6, 2016
/s/ Lawrence J. O’Neill _____
UNITED STATES CHIEF DISTRICT JUDGE
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