Securities and Exchange Commission v. Nadel et al

Filing 1395

NOTICE by Burton W. Wiand re 1384 Order on Motion for Miscellaneous Relief of Objections Regarding Claims Process for Quest Energy Management Group, Inc. (Perez, Jared)

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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, 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, Relief Defendants. / RECEIVER’S NOTICE OF OBJECTIONS REGARDING CLAIMS PROCESS FOR QUEST ENERGY MANAGEMENT GROUP, INC. On March 7, 2019, the Receiver filed his 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 (the “Motion”) (Doc. 1383) in connection with Quest Energy Management Group, Inc. (“Quest”). The exhibits to the Motion contained the Receiver’s determinations regarding 93 claims. The Motion also contained a detailed objection procedure for any claimants who disagree with the Receiver’s claim determinations. See Doc. 1383 at 41-45. That procedure required objecting claimants to serve their objections on the Receiver by April 19, 2019. Id. The Court granted the Motion on March 15, 2019. Doc. 1384. Claimants served objections in connection with 11 of the 93 claims or approximately 11.8%. Five of the 11 objections were served by taxing authorities in Texas. See Claim Nos. 1-4, 74. The claimants generally argue their Allowed Amounts (as defined in the Motion) should include penalties and interest accrued on unpaid taxes. The Receiver has construed the motion filed by First National Bank of Albany (Doc. 1387) as an objection, and the Court has set a hearing on that motion for April 29, 2019 (Doc. 1390). See Claim No. 5. Four of the remaining five objections were filed by individuals with denied claims, and the objections generally relate to circumstances unique to each claimant. See Claim Nos. 72, 73, 75, 79. The final objection relates to an individual who believes her claim should be classified as Class 2 rather than Class 3. See Claim No. 17. All further claims are now “barred and enjoined absent further order from this Court.” See Doc. 1384 ¶ 7. The next step in the objection procedure requires the Receiver to evaluate the objections and to notify the objecting claimants of his evaluations within 45 days. The Receiver will also attempt to settle or otherwise resolve the objections. The Receiver will update the Court as this process unfolds and objections are resolved. If any objection is not able to be resolved, it will be presented to the Court for determination. See Docs. 1383 at 4344, 1384 ¶ 6. 2 CERTIFICATE OF SERVICE I HEREBY CERTIFY that on April 25, 2019, I electronically filed the foregoing with the Clerk of the Court by using the CM/ECF system. s/Jared J. Perez Jared J. Perez, FBN 0085192 Wiand Guerra King P.A. 5505 West Gray Street Tampa, FL 33609 Tel: (813) 347-5100 Fax: (813) 347-5198 Attorney for the Receiver, Burton W. Wiand 3

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