Securities and Exchange Commission v. Nadel et al

Filing 669

ORDER ATTACHED granting 668 Motion for Permission to Appeal. Signed by Judge Richard A. Lazzara on 10/31/2011. (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 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 -2-

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