Securities and Exchange Commission v. Nadel et al
Filing
1308
Unopposed MOTION for miscellaneous relief, specifically to approve Seventh Interim Distribution by Burton W. Wiand. (Attachments: # 1 Exhibit A - Distribution Amounts, # 2 Exhibit B - Reserves, # 3 Exhibit C - Proposed Order)(Lamont, Michael)
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EXHIBIT B
RESERVES
Claim
Number
Consolidated with
Claim Number
Objected
Amount
First
Distribution
Reserve
Amount
Second
Distribution
Reserve
Amount
Third
Distribution
Reserve
Amount
Fourth
Distribution
Reserve
Amount
Fifth
Distribution
Reserve
Amount
Sixth
Distribution
Reserve
Amount
Seventh
Distribution
Reserve
Amount
Total Reserve
Amount
Fourth Distribution Notes
$90.00
$18.00
$0.00
$0.00
$0.00
$0.00
$0.00
$0.00
$0.00 This objection has been withdrawn.
$0.00
$0.00
$0.00
$0.00
$0.00
$0.00
$0.00
$0.00
$0.00 The Court overruled this objection (Docs. 1194,
1198).
$14,907.67
$2,981.53
$2,497.03
$567.98
$567.98
$0.00
$0.00
$0.00
$0.00 The Court overruled this objection (Docs. 1194,
1198).
$31,873.37
$6,374.67
$5,338.79
$1,214.38
$1,214.38
$0.00
$0.00
$0.00
$0.00 The Court overruled this objection (Docs. 1194,
1198).
$0.00
$0.00
$0.00
$0.00
$0.00
$0.00
$0.00
$0.00
$0.00 The Court overruled this objection (Docs. 1194,
1198).
$61,246.41
$12,249.28
$10,258.77
$2,333.49
$2,333.49
$0.00
$0.00
$0.00
$0.00 The Court overruled this objection (Docs. 1194,
1198).
$25,144.49
$5,028.90
$4,211.70
$958.01
$958.01
$0.00
$0.00
$0.00
$0.00 The Court overruled this objection (Docs. 1194,
1198).
$500,000.00
$100,000.00
$0.00
$0.00
$0.00
$0.00
$0.00
$0.00
$0.00 This objection has been withdrawn.
$1,195,000.00
$239,000.00
$200,162.50
$0.00
$0.00
$0.00
$0.00
$0.00
449
$0.00
$0.00
$0.00
$0.00
$0.00
$0.00
$0.00
$0.00
$0.00 The Court overruled this objection and
affirmed the denial of this claim (Doc. 1061).
$0.00 This objection has been withdrawn.
450
$0.00
$0.00
$0.00
$0.00
$0.00
$0.00
$0.00
$0.00
$0.00 This objection has been withdrawn.
$0.00
$0.00
$0.00
$0.00
$0.00
$0.00
$0.00
$0.00
$0.00 The Court overruled this objection and
affirmed the denial of this claim (Doc. 1121).
$0.00
$0.00
$0.00
$0.00
$0.00
$0.00
$0.00
$0.00
$0.00 The Court overruled this objection and
affirmed the denial of this claim (Doc. 1121).
$0.00
$0.00
$0.00
$0.00
$0.00
$0.00
$0.00
$0.00
$0.00 The Court overruled this objection and
affirmed the denial of this claim (Doc. 1121).
$0.00
$0.00
$0.00
$0.00
$0.00
$0.00
$0.00
$0.00
$0.00 The Court overruled this objection and
affirmed the denial of this claim (Doc. 1121).
$0.00
$0.00
$0.00
$0.00
$0.00
$0.00
$0.00
$0.00
$0.00 The Court overruled this objection and
affirmed the denial of this claim (Doc. 1121).
$155,511.27
$31,102.25
$26,048.14
$5,924.98
$5,924.98
$0.00
$0.00
$0.00
$0.00 The Court overruled this objection and
affirmed the denial of this claim (Doc. 1121).
$305,000.00
$61,000.00
$51,087.50
$11,620.50
$11,620.50
$0.00
$0.00
$0.00
$0.00 The Court overruled this objection and
affirmed the denial of this claim (Doc. 1204).
$480,500.00
$96,100.00
$80,483.75
$0.00
$0.00
$0.00
$0.00
$0.00
$0.00 This objection has been withdrawn.
157
403
404
405
406
407
408
444
445
462
477*
463
464
465
466
467
469
476
Page 1 of 3
EXHIBIT B
RESERVES
Claim
Number
Consolidated with
Claim Number
Objected
Amount
First
Distribution
Reserve
Amount
Second
Distribution
Reserve
Amount
Third
Distribution
Reserve
Amount
Fourth
Distribution
Reserve
Amount
Fifth
Distribution
Reserve
Amount
Sixth
Distribution
Reserve
Amount
Seventh
Distribution
Reserve
Amount
Total Reserve
Amount
Fourth Distribution Notes
483
$85,000.00
$17,000.00
$14,237.50
$3,238.50
$3,238.50
$0.00
$0.00
$0.00
$0.00 The Court overruled this objection (Docs. 1194,
1198).
$353,665.49
$70,733.10
$0.00
$0.00
$0.00
$0.00
$0.00
$0.00
$0.00 The Claimant has withdrawn this objection.
$136,000.00
477
$27,200.00
$0.00
$0.00
$0.00
$0.00
$0.00
$0.00
$0.00 The Court overruled this objection and
affirmed the denial of this claim (Doc. 928).
$3,343,938.70
$668,787.73
$394,325.69
$25,857.83
$25,857.83
$0.00
$0.00
$0.00
$0.00
504
SUBTOTAL
Page 2 of 3
EXHIBIT B
RESERVES
Claim
Number
Consolidated with
Claim Number
Objected
Amount
First
Distribution
Reserve
Amount
Second
Distribution
Reserve
Amount
Third
Distribution
Reserve
Amount
Fourth
Distribution
Reserve
Amount
Fifth
Distribution
Reserve
Amount
Sixth
Distribution
Reserve
Amount
Seventh
Distribution
Reserve
Amount
Total Reserve
Amount
Fourth Distribution Notes
WELLS FARGO'S ASSERTED INTERESTS
Evergreen,
Colorado
Property
$402,786.02 as
of 4/26/12
$0.00
$0.00
$0.00
$0.00
$0.00
$0.00
Rite-Aid
Pharmacy
Property
(Claim 502)
$4,093,039.48
as of 12/31/16
$220,692.32
$179,894.74
$49,124.44
$52,313.79
$37,032.95
$28,326.36
BellaSara
Condo Loan
1
$1,537,026.12
as of 12/30/16
$237,571.79
$198,966.38
$48,564.15
$50,498.94
$32,795.71
$23,362.80
BellaSara
Condo Loan
2
$1,314,955.10
as of 12/31/16
$224,527.19
$188,041.52
$34,881.14
$35,675.26
$28,383.90
$19,987.32
$0.00
Laurel
Mountain
Property
$2,650,453.38
as of 1/3/17
$437,689.42
$366,564.89
$88,060.87
$89,448.01
$56,496.96
$40,286.89
$0.00
SUBTOTAL
$1,120,480.72
$933,467.53
$220,630.60
$227,936.00
$154,709.51
$111,963.37
$755,538.60 $1,322,923.20
TOTAL
RESERVES
$1,789,268.45 $1,327,793.22
$246,488.43
$253,793.83
$154,709.51
$111,963.37
$755,538.60 $1,322,923.20
Page 3 of 3
$0.00
$0.00 This property has been sold and the loan from
Wells Fargo has been paid. Accordingly, no
reserves are necessary for this property.
$755,538.60 $1,322,923.20 The Receiver sold this property and received
$2,229,463.15 in net proceeds from the sale.
Pursuant to a settlement agreement between
the Receiver and Wells Fargo, the sale
proceeds less agreed expenses have been paid
to Wells Fargo. Wells Fargo is claiming an
interest in rental income collected by the
Receiver, which the Receiver disputes. The
amount reserved for the seventh interim
distribution is the difference between the
amount previously reserved and the total
amount of rents collected. This results in the
full amount of rental income being reserved
pending the resolution of the dispute involving
this rental income.
$0.00
$0.00 Pursuant to a settlement agreement between
the Receiver and Wells Fargo, the sale
proceeds less agreed expenses have been paid
to Wells Fargo. Accordingly, no reserves are
necessary for this property.
$0.00 Pursuant to a settlement agreement between
the Receiver and Wells Fargo, the sale
proceeds less agreed expenses have been paid
to Wells Fargo. Accordingly, no reserves are
necessary for this property.
$0.00 Pursuant to a settlement agreement between
the Receiver and Wells Fargo, Wells Fargo has
until September 10, 2017 to either pay the
Receiver $254,073.76 for expenses incurred in
maintaining Laurel Mountain and foreclose on
the property or waive its security interest in
the property in favor of the Receiver. As such,
no reserves are necessary for this property.
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