Securities and Exchange Commission v. Nadel et al

Filing 192

ORDER ATTACHED denying #191 Motion for Reconsideration. Signed by Judge Richard A. Lazzara on 9/8/2009. (CCB)

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, SCOOP CAPITAL, LLC; SCOOP MANAGEMENT, INC.; 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. / CASE NO: 8:09-cv-87-T-26TBM

ORDER

Upon due consideration of the court file and the previous orders of this Court, it is ordered and adjudged that Louis Paolino's Motion for Relief From Order/Clarification (Dkt. 191) is denied with the following observation. The Court's goal is to have the court-appointed receiver marshal all of the assets of the receiver's estate for the benefit of all defrauded investors and not just a select few. To that end, this Court will enjoin, under the appropriate circumstances, any other legal proceeding which will have the

effect of undermining the Court's and the receiver's missions. After the estate's assets have been recovered, the Court will implement a claims procedure designed to afford all disaffected investors the process they are due under the law with regard to their claimed interest in the estate's assets consistent with the principles of Securities and Exchange Commission v. Elliott, 953 F.2d 1560 (11th Cir. 1992).
DONE AND ORDERED at Tampa, Florida, on September 8, 2009.

s/Richard A. Lazzara RICHARD A. LAZZARA UNITED STATES DISTRICT JUDGE

COPIES FURNISHED TO:

Counsel of Record

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