Securities and Exchange Commission v. Nadel et al

Filing 1248

ORDER ATTACHED denying 1244 First National Bank's Motion to Intervene and Go Free of Stay. Signed by Judge Richard A. Lazzara on 9/27/2016. (CCB)

UNITED STATES DISTRICT COURT
MIDDLE DISTRICT OF FLORIDA
TAMPA DIVISION
SECURITIES AND EXCHANGE
COMMISSION,
Plaintiff,
v.

CASE NO: 8:09-cv-87-T-26TBM

ARTHUR NADEL; SCOOP CAPITAL, LLC;
and SCOOP MANAGEMENT, INC.,
Defendants,
SCOOP REAL ESTATE, L.P.;
VALHALLA INVESTMENT PARTNERS, L.P.;
VALHALLA MANAGEMENT, INC.;
VICTORY IRA FUND, LTD.; VICTORY FUND, LTD.;
VIKING IRA FUND, LLC; VIKING FUND, LLC;
and VIKING MANAGEMENT, LLC,
Relief Defendants.
/
ORDER
UPON DUE CONSIDERATION of the Renewed Motion to Allow the First
National Bank of Albany/Breckenridge to Go Free of the Stay to Enforce its Security
Interest in Assets of Quest Energy Management Group, Inc. (Dkt. 1244), the Receiver’s
Opposition (Dkt. 1246), and Plaintiff’s Response (Dkt. 1247), it is ORDERED AND
ADJUDGED that the motion is denied. First National Bank filed a proof of claim in

these receivership proceedings which covers its secured collateral.1 The purpose of the
claims process exists to consolidate all claims, avoid piecemeal litigation, and provide an
efficient and orderly administration of the estate. Consequently, the Court agrees with the
Receiver’s contention “that First National submitted to the exclusive jurisdiction of this
Court regarding all of its claims against Quest and its assets, including Quest’s office
building and oil and gas leases, by filing a proof of claim form in the claims process.”
DONE AND ORDERED at Tampa, Florida, on September 27, 2016.

s/Richard A. Lazzara
RICHARD A. LAZZARA
UNITED STATES DISTRICT JUDGE
COPIES FURNISHED TO:

Counsel of Record

1

See docket 1246, at Exh. 1.

-2-