Securities and Exchange Commission v. Schooler et al

Filing 1305

ORDER Approving Receiver's Recommendations Regarding: Letters of Intent to Purchas Dayton I, Dayton IV. Fernley I. Las Vegas 2, and Stead Properties; Engagement of Real Estate Brokers for Las Vegas 1. Las Vegas 2, and Tecate Properties; Denying Receiver's #1191 Ex Parte Motion for Order Confirming Sale of Jamul Valley Property; and Granting #1280 Motion to File Documents Under Seal. Signed by Judge Gonzalo P. Curiel on 5/25/16. (dlg) (jao).

1
2
3
4
5
6
7
8

UNITED STATES DISTRICT COURT

9

SOUTHERN DISTRICT OF CALIFORNIA

10
11

SECURITIES AND EXCHANGE
COMMISSION,
Plaintiff,

12
13
14
15
16

CASE NO. 3:12-cv-2164-GPC-JMA
ORDER:
APPROVING RECEIVER’S
RECOMMENDATIONS
REGARDING:
(1) LETTERS OF INTENT TO
PURCHASE DAYTON I, DAYTON
IV, FERNLEY I, LAS VEGAS 2,
AND STEAD PROPERTIES

v.

18

(2) ENGAGEMENT OF REAL
ESTATE BROKERS FOR LAS
VEGAS 1, LAS VEGAS 2, AND
TECATE PROPERTIES

19

[ECF No. 1169, 1203, 1281]

20

DENYING RECEIVER’S EX
PARTE APPLICATION FOR
ORDER CONFIRMING SALE OF
JAMUL VALLEY PROPERTY

17

21
22
23
24
25

LOUIS V. SCHOOLER and FIRST
FINANCIAL PLANNING
CORPORATION, dba Western
Financial Planning Corporation,
Defendants.

[ECF Nos. 1191]
GRANTING RECEIVER’S
MOTION TO FILE UNDER SEAL
[ECF No. 1280]

26
27
28

Before the Court is Receiver Thomas C. Hebrank’s (the “Receiver”) Ex Parte
Application for Permission to File Under Seal. ECF No. 1280. Generally,
-1-

3:12-cv-2164-GPC-JMA

1 “compelling reasons” must exist to seal documents filed in support of a dispositive
2 motion. See Kamakana v. City and Cnty. of Honolulu, 447 F.3d 1172, 1178–79 (9th
3 Cir. 2006). Where a court filing contains “business information that might harm a
4 litigant’s competitive standing,” the court may properly deny public access. Nixon v.
5 Warner Commc’ns, 435 U.S. 589, 598 (1978). The Receiver seeks to file under seal
6 his recommendation regarding a letter of intent to purchase one GP property. The
7 Court finds that the information the Receiver seeks to file under seal could
8 negatively affect the amount of other offers and therefore the ultimate price for the
9 property that can be obtained. Accordingly, the Court GRANTS the Receiver’s ex
10 parte application for permission to file under seal. ECF No. 1280.
11

Also before the Court are a number of recommendations made by the

12 Receiver concerning the disposition of properties under receivership. Having reviewed
13 the Receiver’s recommendations, IT IS HEREBY ORDERED THAT:
14 1.

The Court APPROVES and ADOPTS the Receiver’s Recommendations

15

Regarding Letters of Intent to Purchase Dayton I, Dayton IV, Fernley I, Las

16

Vegas 2, and Stead Properties. ECF No. 1169.

17 2.

The Court APPROVES and ADOPTS the Receiver’s Recommendation

18

Regarding Engagement of Real Estate Brokers for Las Vegas 1, Las Vegas 2,

19

and Tecate Properties. ECF No. 1203.

20 3.

The Court APPROVES and ADOPTS the Receiver’s Recommendation

21

Regarding Letter of Intent to Purchase Dayton IV Property. ECF No. 1281.

22 4.

The Court DENIES the Receiver’s Ex Parte Application for Order Confirming

23

Sale of Jamul Valley Property, and DIRECTS the Receiver to refile his

24

application as a motion for order for approval of the sale, see ECF No. 1285,

25

incorporating the 28 U.S.C. § 2001(a) public auction procedures proposed in the

26

Receiver’s supplemental brief, ECF No. 1225, and in accordance with the terms

27

of the Court’s May 25, 2016 Order Directing Orderly Sale Procedures, within

28

fourteen (14) days of the issuance of this Order. Any response to the refiled
-2-

3:12-cv-2164-GPC-JMA

1

motion shall be filed on or before June 17, 2016. Any reply shall be filed on or

2

before July 1, 2016. A hearing on the refiled motion is set for July 15, 2016, at

3

1.30 p.m. in Courtroom 2D.

4

IT IS SO ORDERED.

5
6 DATED: May 25, 2016
7
8

HON. GONZALO P. CURIEL
United States District Judge

9
10
11
12
13
14
15
16
17
18
19
20
21
22
23
24
25
26
27
28
-3-

3:12-cv-2164-GPC-JMA