Securities and Exchange Commission v. Secure Investement Services, Inc., et al

Filing 963

ORDER APPROVING FINAL SALE signed by Judge Garland E. Burrell, Jr. on 11/25/2013 GRANTING 957 Receiver's Michael J. Quilling Motion for Final Approval of Sale; the Court ADOPTS the Receiver' recommendation to sell the receivership estate& #039;s interests in the remaining policies to Lexington Settlements for $5 million. Further, the Receiver is authorized: (1) to sell the receivership estate' interests in the remaining policies; (2) to accept Lexington Settlements' offer to purchase those interests for $5 million; and (3) to enter into any agreements or conduct any transactions in his discretion that are necessary to close that sale without seeking further approval from the Court. (Reader, L)

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UNITED STATES DISTRICT COURT

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EASTERN DISTRICT OF CALIFORNIA

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SACRAMENTO DIVISION

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SECURITIES AND EXCHANGE COMMISSION,

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Plaintiff,

Case No. 2:07-cv-01724 GEB CMK
ORDER APPROVING FINAL SALE

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v.

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SECURE INVESTMENT SERVICES, INC.;
AMERICAN FINANCIAL SERVICES, INC.;
LYNDON GROUP, INC.; DONALD F. NEUHAUS;
and KIMBERLY A. SNOWDEN,

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Defendants.

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The Court appointed Receiver Michael J. Quilling filed a “Motion for Final

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Approval of Sale”, (ECF No. 957), and scheduled the motion for hearing on December 2, 2013.

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The motion is unopposed, and the evidence submitted in support of the motion reveals the

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hearing should be vacated and the motion should be granted. Therefore, the December 2, 2013,

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scheduled hearing date for the motion is vacated, and the Court finds good cause exists to grant
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the Receiver’s motion.

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Therefore the motion is GRANTED, and the Court adopts the Receiver’s

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recommendation to sell the receivership estate’s interests in the remaining policies to Lexington

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Settlements for $5 million. Further, the Receiver is authorized: (1) to sell the receivership

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estate’s interests in the remaining policies; (2) to accept Lexington Settlements’ offer to purchase

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ORDER FOR FINAL APPROVAL OF SALE

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those interests for $5 million; and (3) to enter into any agreements or conduct any transactions in

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his discretion that are necessary to close that sale without seeking further approval from the

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Court.

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Dated: November 25, 2013

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ORDER FOR FINAL APPROVAL OF SALE