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)

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

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