Securities and Exchange Commission v. Shaw-Yau Chang

Filing 56

ORDER re 55 Proposed Order re Corrected Order Granting Plaintiff Securities & Exchange Commission's Miscellaneous Administrative Application to Pay Distribution Fees & Transfer Funds to the United States Treasury, filed by Securities and Exchange Commission. Signed by Judge Charles R. Breyer on 10/14/2016. (beS, COURT STAFF) (Filed on 10/17/2016)

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1 JINA L. CHOI (NY Bar No. 2699718) JOHN S. YUN (Cal Bar No. 112260) 2 Email: 3 Attorneys for Plaintiff SECURITIES AND EXCHANGE COMMISSION 4 44 Montgomery Street, Suite 2800 San Francisco, California 94104 5 Telephone: (415) 705-2468 Facsimile: (415) 705-2501 6 7 UNITED STATES DISTRICT COURT 8 9 NORTHERN DISTRICT OF CALIFORNIA SAN FRANCISCO DIVISION 10 11 12 SECURITIES AND EXCHANGE COMMISSION, Civil Action No. C-04-4144-CRB Plaintiff, 13 CORRECTED ORDER GRANTING PLAINTIFF SECURITIES vs. 14 AND EXCHANGE COMMISSION’S MISCELLANEOUS ADMINISTRATIVE JERRY SHAW-YAU CHANG, 15 APPLICATION TO PAY DISTRIBUTION FEES AND TRANSFER FUNDS TO THE Defendant 16 UNITED STATES TREASURY 17 Date: NA Time: NA Judge: Charles R. Breyer Courtroom: 6 18 19 20 21 CORRECTED ORDER GRANTING APPLICATION TO PAY DISTRIBUTION FEES 22 Pursuant to Civil Local Rule 7-11, plaintiff Securities and Exchange Commission 23 (“Commission”) filed a Miscellaneous Administrative Application for authorization to pay the 24 distribution fees of the Garden City Group (“GCG”), which is the Claims Administrator in this 25 proceeding. On February 13, 2007, this Court authorized the distribution of the $400,000 to the 26 injured investors in Clarent Corporation (“Clarent”) during the period of January 19, 2001 through 27 August 31, 2001 and the retention of GCG to handle the administration of that distribution 28 (“Distribution Order”). The Distribution Order authorized holding back funds from disbursement to Corrected Order Transferring Funds Case No. C-04-04144-CRB 1 cover GCG’s administrative fees and potential income taxes. The Distribution Order also authorized 2 GCG to request the payment of its administrative fees from the distribution fund, subject to the 3 Commission’s review and approval of GCG’s fees. 4 GCG has submitted to the Commission a final invoice in the amount of $29,082.51 for its 5 services, fees and expenses (“Final Invoice”). The Commission has reviewed and approved that final 6 invoice as being reasonable, and the Court therefore authorize GCG to pay that invoice from the 7 remaining distribution funds. 8 After $29,082.51 is paid to GCG, there will be a corrected remaining balance of just $89.35 in 9 the distribution fund. The Court authorizes the transfer of any remaining balance from the distribution 10 fund to the Commission so that the balance can be forwarded by the Commission to the United States 11 Treasury. 12 SO ORDERED. 13 14 Dated: October 14, 2016 15 16 __________________________ CHARLES R. BREYER, Judge United States District Court 17 18 19 20 21 22 23 24 25 26 27 28 Corrected Order Transferring Funds CASE NO. C-04-04144-CRB 2

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