Securities and Exchange Commission v. Nadel et al

Filing 1400

MOTION for Extension of Time to File /Serve Objecting Claimants with Notification of Receiver's Evaluation of Objections by Burton W. Wiand. (Perez, Jared)

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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-cv-0087-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. / RECEIVER’S MOTION FOR FOURTEEN-DAY EXTENSION OF DEADLINE TO SERVE OBJECTING CLAIMANTS WITH NOTIFICATION OF RECEIVER’S EVALUATION OF OBJECTIONS Burton W. Wiand, as receiver (the “Receiver”) for Quest Energy Management Group, Inc. (“Quest”), respectfully moves the Court to extend the deadline for serving notifications of the Receiver’s evaluation of objections from June 3, 2019 to June 17, 2019. 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). The Court granted the Motion on March 15, 2019 (the “Order”) (Doc. 1384). Pursuant to the Order, claimants had until April 19, 2019 to submit an objection to the Receiver’s determination of their respective claims, claim priority, or plan of distribution. The Receiver received objections from claimants in connection with eleven claims (Claim Numbers 1, 2, 3, 4, 5, 17, 72, 73, 74, 75, and 79). See also Receiver’s Notice of Objections Regarding Claims Process for Quest Energy Management Group, Inc. (Doc. 1395). The next step in the objection procedure approved by the Court requires the Receiver to evaluate the objections and to notify the objecting claimants of his evaluations by June 3, 2019 (the “Notifications”). A brief extension of this deadline is necessary because the Receiver is completing the sale of most Quest assets and is preparing a motion to approve the sale, which he anticipates filing shortly. While the Receiver has done substantial work toward completing the Notifications, due to the efforts needed to complete the sale of Quest’s assets, the Receiver requires additional time to finalize and serve the Notifications. The requested extension is not being sought to delay the proceedings or for any other improper reason, and no party will be prejudiced by the brief extension. WHEREFORE, the Receiver respectfully requests a fourteen-day extension of the deadline for serving Notifications of the Receiver’s evaluation of objections from June 3, 2019 to June 17, 2019. 2 CERTIFICATE UNDER LOCAL RULE 3.01(g) Undersigned counsel for the Receiver has conferred with counsel for the SEC and is authorized to represent to the Court that the SEC does not oppose the relief requested in this motion. Counsel for the Receiver has not conferred with the nonparty claimants. CERTIFICATE OF SERVICE I HEREBY CERTIFY that on May 30, 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 W. Gray Street Tampa, FL 33609 Tel: 813-347-5100 Fax: 813-347-5198 Attorney for the Receiver 3

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