Securities and Exchange Commission v. Nadel et al

Filing 618

ORDER granting 617 Unopposed MOTION for miscellaneous relief, specifically for Approval to Serve Proposals for Settlement in Connection with Ancillary Actions by Burton W. Wiand. Signed by Judge Richard A. Lazzara on 4/21/2011. (SKH)

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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; and 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, LLC, Relief Defendants. / ORDER UPON DUE CONSIDERATION, it is ORDERED AND ADJUDGED that the Receiver’s Unopposed Motion for Approval to Serve Proposals for Settlement in Connection with Ancillary Actions (Dkt. 617) is granted. The Court specifically authorizes the Receiver to serve proposals for settlement pursuant to section 768.79 of the Florida Statutes in an attempt to resolve pending ancillary actions brought by the Receiver to recover “false profits” without further order of this Court but only so long as the proposal for settlement is no lower than 90% of the “false profits.” In the event the Receiver decides that an amount less than 90% of the “false profits” should be the basis for a settlement proposal, he shall first seek approval from the Court before making such a settlement proposal. DONE AND ORDERED at Tampa, Florida, on April 21, 2011. s/Richard A. Lazzara RICHARD A. LAZZARA UNITED STATES DISTRICT JUDGE COPIES FURNISHED TO: Counsel of Record -2-

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