Securities and Exchange Commission v. Nadel et al

Filing 1384

ORDER granting 1383 Motion for miscellaneous relief, specifically to (1) Approve Determinations and Priority of Claims, (2) Pool Receivership Assets and Liabilities, (3) Approve Plan of Distribution, and (4) Establish Objection Procedure. Signed by Judge Virginia M. Hernandez Covington on 3/15/2019. (DLB)

UNITED STATES DISTRICT COURT
MIDDLE DISTRICT OF FLORIDA
TAMPA DIVISION
SECURITIES AND EXCHANGE
COMMISSION,
Plaintiff,
v.
ARTHUR NADEL,
SCOOP CAPITAL, LLC, and
SCOOP MANAGEMENT, INC.,
Defendants,
Case No.: 8:09-cv-87-T-33CPT
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 Motion to
(1) Approve Determinations and Priority of Claims, (2) Pool Receivership Assets and Liabilities,
(3) Approve Plan of Distribution, and (4) Establish Objection Procedure, which was filed on March
7, 2019. (Doc. # 1383).
Having considered the motion, and being otherwise fully advised, it is ORDERED AND
ADJUDGED that:
1.

The Receiver’s motion is GRANTED;

2.

The Receiver’s determinations of claims and claim priorities as set forth in the

motion and in Exhibits B through H attached to the motion appear fair and equitable and are
approved;
3.

The Receiver is authorized to pool and consolidate all of Quest Energy

Management Group, Inc.’s (“Quest”) assets and liabilities for all purposes, including for payment
of administrative costs, receipt of third-party recoveries, and making distributions to holders of
allowed claims;
4.

For the reasons discussed in the motion, the Net Investment Method as set forth in

the motion and its Exhibits is the proper method for calculating allowed amounts for investors’
claims;
5.

The plan of distribution as set forth in the motion is logical, fair, and reasonable,

and is approved;
6.

The Proposed Objection Procedure as set forth in the motion for objections to the

plan of distribution and the Receiver’s claim determinations and claim priorities is logical, fair,
and reasonable, and is approved, and any and all objections to claim determinations, claim
priorities, or the plan of distribution shall be presented to the Receiver in accordance with the
Proposed Objection Procedure as set forth in the motion; and
7.

To bring finality to these matters and to allow the Receiver to proceed with

distributions of Receivership assets, any and all further claims against the Receivership Entity
Quest, Quest Receivership property, the Quest Receivership estate, or the Receiver by any
claimant, taxing authority, or any other public or private person or entity and any and all efforts to
enforce or otherwise collect on any lien, debt, or other asserted interest in or against Receivership

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Entity Quest, Quest Receivership property, or the Quest Receivership estate are hereby barred and
enjoined absent further order from this Court.
DONE AND ORDERED at Tampa, Florida, this 15th day of March, 2019.

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