Securities And Exchange Commission v. Goldfarb et al

Filing 57

ORDER EXTENDING DEADLINE UNDER RECEIVERSHIP ORDER by Hon. William Alsup granting 56 Motion for Extension of Time to File.(whalc2, COURT STAFF) (Filed on 7/25/2012)

1 RICHARD J. NELSON (State BarNo. 141658)
rnelson@sideman. com
E-Mail:
2 STEVEN M. KATZ (State Bar No. 164617)
E-Mail:
[e-mail]
3 SIDEMAN & BANCROFT LLP
One Embarcadero Center, Eighth Floor
4 San Francisco, California 94111-3629
Telephone:
[phone]
5 Facsimile:
[phone]

6 Attorneys for Defendants
LAWRENCE R. GOLDFARB and
7 BAYSTAR CAPITAL MANAGEMENT, LLC
8

UNITED STATES DISTRICT COURT

9
NORTHERN DISTRICT OF CALIFORNIA

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SAN FRANCISCO DIVISION
11

12 SECURITIES AND EXCHANGE
COMMISSION,

Case No. 3:11-cv-00938 WHA

13

JOINT MOTION OF DEFENDANTS AND
RECEIVER JOHN COTTON TO
EXTEND DEADLINE UNDER
RECEIVERSHIP ORDER (DOCKET 53)
AND[PROPOSED]ORDER

Plaintiff,

14
v.

15
LAWRENCE R. GOLDFARB and
16 BAYSTAR CAPITAL MANAGEMENT,
LLC,

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Defendants.

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By Order dated June 26, 2012 (Docket 53), the Court ordered that the Receivership

22 Defendants (as defined in the Order) file and serve a sworn statement and accounting, with
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complete documentation, covering the period January 1, 2006 to the present, reflecting assets, bank

24 accounts, credit card accounts, funds received related to the conduct alleged in the Complaint,
25 expenditures over $1,000 and all transfers made, and file and serve tax returns from 2006 to 2011.
26 (Docket 53, Paragraphs 9, 10).
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III

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1514126vl

Case No. 3:11-cv-00938 WHA
JOINT MOTION TO EXTEND DEADLINE UNDER RECEIVERSHIP ORDER

1

The Receivership Defendants are attempting to prepare the required statement and

2 accounting and assemble the tax returns, but the information requested is voluminous and involves

3 time periods as to which Defendants have been thus far been unable to gather or retrieve the
4 relevant information and thus the Defendants need additional time to make these submissions.

In addition, the Receiver, John W. Cotton, Esq., who joins in tills Motion, believes that

5

6 DeH.mdant Lawrence Goldfarb's time in the near term would best be spent assisting the Receiver,

7 as he has been doing, in securing receivership assets.
8

Accorgingly, Defendants and the Receiver request a thirty (30) day extension for the

9 Receivership Defendants to make the submissions set forth in Paragraphs 9 and I 0 of the Order.

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The Receiver confirms that due to other more pressing work on the receivership, the

11 Receiver will not be able to review the submissions for at least thirty days and accordingly this

12 extension will not negatively impact his work or the receivership estate.

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The Receiver has consulted counsel for the Plaintiff regarding tills request and Plaintiffs

14 counsel has indicated that the SEC does not oppose the requested extension.
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DATED: JulyJ

1,20 12

Respectfully submitted,
SIDEMAN & BANCROFT LLP

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By:

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Is/ Steven M Katz
STEVEN M. KATZ
Attorneys for Defendants
LAWRENCE R. GOLDFARB and
BA YSTAR CAPITAL MANAGEMENT, LLC

DATED: JulyJ:j_, 2012

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1514126vl

Case No. 3:11-cv-00938 WHA
1
JOINT MOTION TO EXTEND DEADLINE UNDER RECEIVERSHIP ORDER

[Proposed] ORDER

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2

GOOD CAUSE APPEARING, the deadline for Defendants to make the submissions due

3 under Paragraphs 9 and 10 of the Order Granting Plaintiff's Application for Appointment of
4 Receiver (Docket 53) is extended by thirty calendar days.

5
6 IT IS SO ORDERED
7
8 DATED: July_, 2012
July 25, 2012.
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WILLIAM ALSUP
William Alsup District Judge
United States
UNITED STATES DISTRICT JUDGE

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Case No. 3:11-cv-00938 WHA
JOINT MOTION TO EXTEND DEADLINE UNDER RECEIVERSHIP ORDER