United States of America v. Altotech II LP

Filing 106

WIND UP ORDER. Signed by Judge Samuel Conti on 7/30/10. (tdm, COURT STAFF) (Filed on 7/30/2010)

United States of America v. Altotech II LP

Doc. 106

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JOSEPH P. RUSONEILLO, CA NO 4432 United States Attorney JOANN M. SWANSON, CA NO 88143 Chief, Civil Division EDWIN L. JOE, CA NO 112328 Special Assistant United States Attorney 455 Market Street, 6th Floor San Francisco, California 94105-2420 Telephone: [phone] Facsimile: [phone] or [phone] Email: [e-mail] Attorneys for Federal Plaintiff

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IN THE UNITED STATES DISTRICT COURT
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FOR THE NORTHERN DISTRICT OF CALIFORNIA
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UNITED STATES OF AMERICA, Plaintiff, v. ALTOTECH, II L.P.,

Defendant.

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E-Filing Civil Case No. C06 3879 SC Date: Time: Room:

WIND UP ORDER This matter came upon the Stipulation/Motion of the Small Business Administration as a nd Terminating the Receivership. After careful consideration, this Court, being duly advised on the merits of the Motion, HEREBY ORDERS AND DECREES THAT: 1.

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Dockets.Justia.com

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2.

inistrative and accounting tasks

necessary to windup and close the CEO receivership estate in an orderly manner, and to discharge the Receiver and its agents. These tasks will include, but are not limited to, finalizing the receivership accounting books and records, including the preparation of cash information to enable the general partner, AltoTech Ventures LLC to file the tax return(s) for tax year 2010 and

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other tax returns that may come due after the termination of the receivership, arranging for the return of control of ALT to its general partner, remitting payments or assigning assets from the

3.

Any expenses associated with the winding up and closing procedures shall be

charged and payable as administrative expenses of the ALT receivership estate.
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4.

The Receiver is authorized to prepay monies to the agents, accountants and others

to facilitate the closing of the ALT receivership after the receivership bank account is closed. Any prepaid funds not expended in the closing of the ALT receivership will be remitted to SBA. 5. The Receiver will transfer and/or assign the remaining asset of ALT to SBA. The

transfer and/or assignment documents will provide for the conditional assignment, transfer and delivery of the assets to the SBA, to the attention of Charlotte Johnson, Financial Analyst, Office of SBIC Liquidation, Investment Division, U.S. Small Business Administration, 409 Third Street, S.W., Sixth Floor, Washington, D.C. 20416. The conditional transfer and/or assignment documents will provide an acknowledgment that funds shall be distributed by SBA to the entities

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approved by, and in the priority of payment approved by, this Court in its June 30, 2010 Order (docket #101). 6. The Receiver is authorized to appoint and authorize either Gerry McClure of

Equity Growth Partners, LLC, Principal Agent for the Receiver, or Charlotte Johnson, Financial

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Analyst, Office of SBIC Liquidation, or such other agent or employee as SBA in its sole discretion shall designate, to sign and execute on behalf of, and as agent for, the Receiver, any and all papers necessary to effect any transfer(s) and assignment(s) to SBA as described in paragraph 5, above, and (ii) sign and execute on behalf of, and as agent for, any and all papers necessary to wind up and close the ALT receivership.

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7.

Within ninety (90) days after receiving notification of the entry of the Final Order

by the Court, the Receiver shall transfer and deliver the accounting records of the ALT receivership that may be necessary to enable ALT to prepare and file tax returns for 2010 and other tax returns that may become due after termination of the ALT receivership to its general partner, AltoTech Ventures LLC.

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8.

Any files not delivered to, or not accepted by, the general partner of ALT shall be

transferred to SBA and delivered to the Federal Record Center. SBA is authorized to dispose of these records and files six years from the date of entry of the proposed Order. In the event that b e ordered to serve a written request upon SBA, to the attention of Charlotte Johnson, Financial Analyst, Office of SBIC Liquidation, Investment Division, U.S. Small Business Administration, 409 Third Street, S.W., Sixth Floor, Washington, D.C. 20416 within six years after the entry of a Final Order terminating the receivership estate. 9. cense to the SBA, to the

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attention of Charlotte Johnson, Financial Analyst, Office of SBIC Liquidation, Investment Division U.S. Small Business Administration, 409 Third Street, S.W., Sixth Floor, Washington, D.C. 20416, and SBA is authorized to revoke said SBIC license.

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10. as completed the procedures enumerated in this Order for winding up the receivership. The Report, a Final Cash Receipts and

Disbursements Summary from the date of inception of the ALT receivership, June 21, 2006, through the date of closing of the receivership bank account.

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11.

The Receiver is authorized to unconditionally transfer and return control of ALT

to its general partner, AltoTech Ventures LLC which transfer shall not be effective unless and until the Receiver has completed its duties under this Order and unless and until this Court enters an Order discharging the Receiver. 12. The Receiver shall notify the general partner and limited partners of ALT of the

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proposed wind up and closing of the receivership, the proposed revocation of the SBIC license, and the proposed transfer of control of ALT to its general partner. PURSUANT TO STIPULATION OF THE PARTIES, IT IS SO ORDERED:

In San Francisco, California _______ day of ________, 2010. July 30
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APPROVED AS TO FORM AND CONTENT:
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F D IS T IC T O R

_____________________________ ARLENE P. MESSINGER Attorney for Defendant, SBA as Receiver for Receiver for AltoTech II, L.P.

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______________________________________ ERED O ORD IT IS S THE HONORABLE SAMUEL CONTI onti UNITED STATESudDISTRICT COURT JUDGE amuel C J ge S
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