Securities and Exchange Commission v. Nadel et al

Filing 1291

Unopposed MOTION for Settlement with Wells Fargo; Entry of an Order Authorizing Disbursement of Sale Proceeds to Wells Fargo; and Relief from Injunction, Permitting Wells Fargo to Foreclose on the Laurel Mountain Property by Burton W. Wiand. (Attachments: # 1 Composite Exhibit A, # 2 Composite Exhibit B, # 3 Composite Exhibit C, # 4 Composite Exhibit D, # 5 Exhibit E)(Sharp, Susan)

EXHIBIT “E”

UNITED STATES DISTRICT COURT
MIDDLE DISTRICT OF FLORIDA
TAMPA DIVISION
SECURITIES AND EXCHANGE
COMMISSION
Plaintiff,
v.
ARTHUR NADEL,
SCOOP CAPITAL, LLC,
SCOOP MANAGEMENT, INC.,
Defendants,

CASE NO.: 8:09-0087-T-26TBM

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
This cause comes before the Court for consideration of the Receiver’s Unopposed Motion
For: (i) Approval of Settlement with Wells Fargo, N.A; (ii) Entry of an Order Authorizing
Disbursement of Sale Proceeds to Wells Fargo, N.A.; (iii) and Relief from Injunction, Permitting
Wells Fargo To Foreclose on the Laurel Mountain Property (the “Motion”)1(Doc. No. _____).
The Securities and Exchange Commission and Wells Fargo, N.A. do not oppose the Motion. The

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All capitalized terms not otherwise defined herein shall have the meanings ascribed to them in the Motion.

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Court having considered the Motion and being fully advised in the premises finds that the Motion
should be granted. Accordingly, it is
ORDERED that:
1.

The Motion is Granted.

2.

The Receiver shall disburse $2,224,563.15 to Wells Fargo on account of the Rite

Aid Property within three (3) business days of this Order.
3.

The Receiver shall disburse $2,106,140.29 to Wells Fargo on account of the La

Bellasara Property within three (3) business days of this Order.
4.

Within ninety-days of the Motion, Wells Fargo shall notify the Receiver in writing

of its intention to foreclose on the Laurel Mountain Property or waive its security interest in the
Laurel Mountain Property in favor of the Receiver. In the event that Wells Fargo chooses to
foreclose on the Laurel Mountain Property, then after payment of $254,073.76 to the Receiver the
injunction shall be lifted to allow Wells Fargo to foreclose its interest on the Laurel Mountain
Property, without further Order of this Court.
DONE and ORDERED in chambers in Tampa, Florida this ___________day of _________,
2017.

/s/
RICHARD A. LAZZARA
UNITED STATES DISTRICT JUDGE
COPIES FURNISHED TO:
Counsel of Record

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