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)

1 JINA L. CHOI (NY Bar No. 2699718)
JOHN S. YUN (Cal Bar No. 112260)
2 Email: [e-mail]
3 Attorneys for Plaintiff
SECURITIES AND EXCHANGE COMMISSION
4 44 Montgomery Street, Suite 2800
San Francisco, California 94104
5 Telephone: [phone]
Facsimile: [phone]
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UNITED STATES DISTRICT COURT

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NORTHERN DISTRICT OF CALIFORNIA
SAN FRANCISCO DIVISION

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12 SECURITIES AND EXCHANGE COMMISSION, Civil Action No.
C-04-4144-CRB
Plaintiff,
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CORRECTED ORDER GRANTING
PLAINTIFF SECURITIES
vs.
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AND EXCHANGE COMMISSION’S
MISCELLANEOUS ADMINISTRATIVE
JERRY SHAW-YAU CHANG,
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APPLICATION TO PAY DISTRIBUTION
FEES AND TRANSFER FUNDS TO THE
Defendant
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UNITED STATES TREASURY
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Date: NA
Time: NA
Judge: Charles R. Breyer
Courtroom: 6

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CORRECTED ORDER GRANTING APPLICATION TO PAY DISTRIBUTION FEES

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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.
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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.
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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.
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SO ORDERED.

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Dated: October 14, 2016

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__________________________
CHARLES R. BREYER, Judge
United States District Court

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Corrected Order Transferring Funds
CASE NO. C-04-04144-CRB

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