Securities and Exchange Commission v. Nadel et al

Filing 812

NOTICE by Burton W. Wiand Notice Of Filing Appraisals Of Receivership Real Property Located In Graham, Alamance County, North Carolina (Attachments: #1 Exhibit A - Jeffrey Skeahan Rite Aid Appraisal, #2 Exhibit B - Roscoe Shiplett Rite Aid Appraisal)(Cohen, Jonathan)

UNITED STATES DISTRICT COURT
MIDDLE DISTRICT OF FLORIDA
TAMPA DIVISION
SECURITIES AND EXCHANGE
COMMISSION,
Plaintiff,
v.
ARTHUR NADEL,
SCOOP CAPITAL, LLC,
SCOOP MANAGEMENT, INC.,
CASE NO.: 8:09-cv-0087-T-26TBM
Defendants,
SCOOP REAL ESTATE, L.P.,
VALHALLA INVESTMENT PARTNERS, L.P.,
VALHALLA MANAGEMENT, INC.,
VICTORY FUND, LTD,
VIKING IRA FUND, LLC,
VIKING FUND, LLC, AND
VIKING MANAGEMENT, LLC.
Relief Defendants.
_______________________________________/

NOTICE OF FILING APPRAISALS OF RECEIVERSHIP REAL PROPERTY
LOCATED IN GRAHAM, ALAMANCE COUNTY, NORTH CAROLINA
Burton W. Wiand, as the Court-appointed Receiver (the “Receiver") for Scoop Real
Estate, L.P.; Valhalla Investment Partners, L.P.; Victory IRA Fund, Ltd.; Victory Fund, Ltd.;
Viking IRA Fund, LLC; and Viking Fund, LLC, by and through his undersigned counsel, hereby
provides notice of filing the attached appraisals of the Receivership Estate’s real property located
at 841 South Main Street in Graham, Alamance County, North Carolina (the “Property’).

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1.

On March 2, 2012, this Court granted the Receiver’s Motion to Appoint Appraisers

Pursuant to 28 U.S.C. § 2001 to Appraise Receivership Real Property in Graham, North Carolina
(Doc. 739) to the extent that (a) Thomas J. Skeahan of CB Richard Ellis Valuation & Advisory
Services (“Skeahan”), whose appointment Wells Fargo Bank, N.A. (“Wells Fargo”) did not
oppose, was appointed as one of the three appraisers to appraise the Property; (b) Wells Fargo
was directed to file the name of the second appraiser to appraise the Property with this Court on
or before March 9, 2012; and (c) the Receiver was directed to file the name of the third appraiser
to appraise the Property with this Court on or before March 9, 2012.
2.

On March 8, 2012, the Receiver submitted Roscoe W. Shiplett, MAI of Grubb & Ellis

Landauer Valuation Advisory Services, LLC (“Shiplett”) as the third qualified appraiser to be
appointed to provide the required appraisal for the Property, so that the Receiver may proceed
with seeking approval of a private sale of the Property. (Doc. 781) The Court subsequently
entered an order appointing Shiplett as an additional appraiser to appraise the Property on March
9, 2012.1 (Doc. 784)
3.

On March 20, 2012, Skeahan, whose appointment Wells Fargo did not oppose, submitted

his firm’s appraisal of the Property to the Receiver, which is attached hereto as Exhibit A. As set
forth in the appraisal, after conducting a thorough analysis of the Property, it was determined that
the Property has a current market value of $2,400,000.00.
4.

On April 4, 2012, Shiplett submitted his firm’s appraisal of the Property to the Receiver,

which is attached hereto as Exhibit B. As set forth in the appraisal, after conducting a thorough
analysis of the Property, it was determined that the Property has a current market value of
$2,600,000.00.

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On March 8, 2012, Wells Fargo also submitted the name of its preferred appraiser, Carol Lomax Fortenberry,
whom the Court also appointed as an additional appraiser to appraise the Property in its order dated March 9, 2012.
(Doc. 784)

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Respectfully submitted,
s/ Jonathan B. Cohen
Jonathan B. Cohen (FBN 0027620)
[e-mail]
James, Hoyer, Newcomer & Smiljanich, P.A.
One Urban Centre, Suite 550
4830 West Kennedy Blvd.
Tampa, FL 33609
Telephone: [phone]
Facsimile: [phone]
Attorney for the Receiver, Burton W. Wiand

CERTIFICATE OF SERVICE
I HEREBY CERTIFY that on April 10, 2012, I electronically filed the foregoing with
the Clerk of the Court by using the CM/ECF system.
I FURTHER CERTIFY that on April 10, 2012, I will mail the foregoing document and
the notice of electronic filing by first-class mail to the following non-CM/ECF participants:
Arthur G. Nadel
Register No. 50690-018
Butner Low
Federal Correctional Institution
P.O. Box 999
Butner, NC 27509

s/ Jonathan B. Cohen

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