Securities and Exchange Commission v. Nadel et al
ORDER ATTACHED granting 668 Motion for Permission to Appeal. Signed by Judge Richard A. Lazzara on 10/31/2011. (SKH)
UNITED STATES DISTRICT COURT
MIDDLE DISTRICT OF FLORIDA
SECURITIES AND EXCHANGE
CASE NO: 8:09-cv-87-T-26TBM
ARTHUR NADEL; SCOOP CAPITAL, LLC;
and 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, LLC,
Counsel for the Receiver has filed a motion seeking the permission of the Court to
pursue an appeal of the order entered by United States District Judge Elizabeth A.
Kovachevich approving the report and recommendation of United States Magistrate
Judge Mark A. Pizzo and granting motions to compel arbitration in what are commonly
referred to as the “clawback” lawsuits. The thirty-day period for filing notices of appeal
in these cases expires today. The Court notes that Plaintiff’s counsel has yet to take a
position on whether appeals should be taken in these cases.
After reflecting on the Receiver’s motion and anticipated arguments to be
addressed on appeal, and taking into account the fact that notices of appeal must be filed
by today, the Court will grant the Receiver’s motion and permit him to pursue appeals to
the Eleventh Circuit Court of Appeals in the “clawback” lawsuits in which Judge
Kovachevich has ordered arbitration, but with the understanding that this Court reserves
the jurisdiction to later direct the Receiver to dismiss these appeals in the event the Court
becomes convinced that pursuing the appeals would not be in the best interest of the
receivership estate and the defrauded investors.
ACCORDINGLY, it is ORDERED AND ADJUDGED that the Receiver’s
Motion for Permission to Appeal (Dkt. 668) is granted.
DONE AND ORDERED at Tampa, Florida, on October 31, 2011.
s/Richard A. Lazzara
RICHARD A. LAZZARA
UNITED STATES DISTRICT JUDGE
COPIES FURNISHED TO:
Counsel of Record
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