Securities and Exchange Commission v. Nadel et al

Filing 772

RESPONSE in opposition re 765 MOTION to continue Hearing Scheduled for March 2, 2012 on Pending Motions filed by Securities and Exchange Commission. (Masel, Scott)

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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, 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 Relief Defendants. / PLAINTIFF SECURITIES AND EXCHANGE COMMISSION’S MEMORANDUM OPPOSING CONTINUANCE OF THE MARCH 2, 2012 HEARING The Commission opposes Wells Fargo’s Motion to Continue the hearing scheduled for March 2, 2012 (D.E. 765). Wells Fargo’s Motion to Disqualify the Receiver is not an emergency filing, and, given the chronology of related events, this was appropriate. Wells Fargo’s Motion to Continue, however, tries to imply urgency when Wells Fargo itself did not exhibit such concern until this week. The Court can properly and pragmatically consider the Motion to Disqualify at a later time when the parties have fully briefed it, while still enabling the Receivership and this case to progress on other matters. As explained in the Receiver’s response opposing this same motion (D.E. 767), Wells Fargo has been aware for quite some time of its prior relationship with the Receiver and his firm, as well as positions the Receiver has taken as to Wells Fargo, and the Receiver’s control of property serving as collateral for Wells Fargo loans. There is nothing in Wells Fargo’s Motion to Disqualify the Receiver (D.E. 766) requiring the Court to postpone a hearing on the broad issues, among other things, of claims determination and jurisdiction (the latter raised previously raised by Wells Fargo itself in an attempt to undercut the Receiver).1 WHEREFORE, the Commission opposes continuing the March 2, 2012 hearing and asks the Court to deny Wells Fargo’s motion. March 1, 2012 Respectfully submitted, By: s/ Scott A. Masel Scott A. Masel Senior Trial Counsel Florida Bar No. 0007110 Direct Dial: (305) 982-6398 E-mail: masels@sec.gov Lead and Trial Counsel Attorney for Plaintiff SECURITIES AND EXCHANGE COMMISSION 801 Brickell Avenue, Suite 1800 Miami, Florida 33131 Telephone: (305) 982-6300 Facsimile: (305) 536-4154 CERTIFICATE OF SERVICE I hereby certify that on March 1, 2012, I electronically filed the foregoing with the Clerk of the Court by using the CM/ECF system which will send a notice of electronic filing to the following: 1 The Commission opposes disqualifying the Receiver, which can only hurt the interests of investors Nadel scammed, through additional expense and loss of critical familiarity with the Receivership Estate, and we will respond fully within the required time. 2 Burton W. Wiand, Esq. Wiand Guerra King P.L. 3000 Bayport Drive, Suite 600 Tampa, FL 33607 Telephone: (813) 347-5100 Facsimile: (813) 347-5199 Court-appointed Receiver for Corporate Defendants and Relief Defendants Gianluca Morello, Esq. Wiand Guerra King P.L. 3000 Bayport Drive, Suite 600 Tampa, FL 33607 Telephone: (813) 347-5100 Facsimile: (813) 347-5199 Email: grmorello@wiandlaw.com Counsel for Receiver Burton W. Wiand Sean P. Keefe, Esq. James, Hoyer, Newcomer, Smiljanich & Yanchunis, PA Suite 550 4830 W Kennedy Blvd Tampa, FL 33609 813/286-4100 Fax: 813/286-4174 Email: skeefe@jameshoyer.com Counsel for Receiver Burton W. Wiand Terry Alan Smiljanich , Esq. James, Hoyer, Newcomer, Smiljanich & Yanchunis, PA Suite 550 4830 W Kennedy Blvd Tampa, FL 33609 813/286-4100 Fax: 813/286-4174 Email: tsmiljanich@jameshoyer.com Counsel for Receiver Burton W. Wiand Maya M. Lockwood, Esq. Wiand Guerra King P.L. 3000 Bayport Drive, Suite 600 Tampa, FL 33607 Telephone: (813) 347-5100 Facsimile: (813) 347-5199 Email: mlockwood@wiandlaw.com Co-counsel for Receiver Burton W. Wiand 3 Louis Joseph Shaheen, Jr. . Esq. Akerman Senterfitt Suite 1700 401 E Jackson St Tampa, FL 33602-5803 813-209-5016 Fax: 813-223-2837 Email: joseph.shaheen@akerman.com Counsel for Wells Fargo Bank, N.A. Steven R. Wirth, Esq. Akerman Senterfitt Suite 1700 401 E Jackson St Tampa, FL 33602-5803 813/223-7333 Fax: 813/223-2837 Email: steven.wirth@akerman.com Counsel for Wells Fargo Bank, N.A. Ana T. Barnett, Esq. Stearns, Weaver, Miller, Weissler, Alhadeff & Sitterson, PA Suite 2200 150 W Flagler St Miami, FL 33130 305/789-3514 Fax: 305/789-3395 Email: abarnett@stearnsweaver.com Counsel for Wells Fargo Bank, N.A. Julie Fishman Berkowitz, Esq. Stearns, Weaver, Miller, Weissler, Alhadeff & Sitterson, PA Suite 2200 150 W Flagler St Miami, FL 33130 305/789-3353 Fax: 305/789-2698 Email: jberkowitz@stearnsweaver.com Counsel for Wells Fargo Bank, N.A. I further certify that on the same date I mailed the foregoing document and the notice of electronic filing by U.S. Mail or as indicated below to the following non-CM/ECF participant: Arthur G. Nadel Register No. 50690-018 4 FCI Butner Low - Federal Correctional Institution P.O. Box 999 Butner, NC 27509 Via U.S. Mail s/ Scott A. Masel Scott A. Masel, Esq. 5

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