Securities and Exchange Commission v. Schooler et al

Filing 1650

ORDER Granting #1648 Receiver's Motion to File Supplemental Brief in Support of Receiver's Motion for (A) Approval of Sale of Washoe IV Property and (b) Authority to Pay Broker's Commission Under Seal. Signed by Judge Gonzalo P. Curiel on 8/27/2018. (rmc)

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UNITED STATES DISTRICT COURT

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SOUTHERN DISTRICT OF CALIFORNIA

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Case No.: 3:12-cv-2164-GPC-JMA

SECURITIES AND EXCHANGE
COMMISSION,

ORDER GRANTING RECEIVER’S
MOTION TO FILE
SUPPLEMENTAL BRIEF IN
SUPPORT OF RECEIVER’S
MOTION FOR (A) APPROVAL OF
SALE OF WASHOE IV PROPERTY
AND (B) AUTHORITY TO PAY
BROKER’S COMMISSION UNDER
SEAL

Plaintiff,
v.
LOUIS V. SCHOOLER and FIRST
FINANCIAL PLANNING
CORPORATION d/b/a Western Financial
Planning Corporation,
Defendants.

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[EFC NO. 1648]

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Before the Court is the Receiver’s Motion to File Supplemental Brief in Support of
Receiver’s Motion for (A) Approval of Sale of Washoe IV Property and (B) Authority to
Pay Broker’s Commission under Seal. On July 24, 2018, the Receiver filed a Motion for
(A) Approval of Sale of Washoe IV Property and (B) Authority to Pay Broker’s
Commission. ECF No. 1634. The Court subsequently ordered the Receiver to file, under
seal, a more detailed discussion of CBRE’s analysis and the recommended list price.
ECF No. 1647. The Receiver now thus requests permission to file a supplemental brief
under seal in response to the Court’s order.
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3:12-cv-2164-GPC-JMA

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Generally, “compelling reasons” must exist to seal documents. See Kamakana v.

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City and Cnty. of Honolulu, 447 F.3d 1172, 1178-79 (9th Cir. 2006). A court may

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properly deny public access to a court filing that contains “business information that

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might harm a litigant’s competitive standing.” Nixon v. Warner Commc’ns, 435 U.S.

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589, 598 (1978). The Court finds that the information that the Receiver seeks to file

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under seal, if publicly disclosed, could disadvantage the receivership in sales negotiations

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and/or negatively impact the receivership’s ability to recover the proposed purchase

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price. Accordingly, the Court GRANTS the Receiver’s motion to file supplemental brief

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under seal.

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IT IS SO ORDERED.

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Dated: August 27, 2018

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3:12-cv-2164-GPC-JMA