Securities and Exchange Commission v. Nadel et al

Filing 845

Unopposed MOTION for referral to mediation Receiver's Unopposed Motion For Order Directing Mediation by Burton W. Wiand. (Attachments: #1 Text of Proposed Order)(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.,
Defendants,

CASE NO: 8:09-cv-0087-T-26TBM

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.
/

[PROPOSED] ORDER
Pending before the Court is the Receiver’s unopposed motion seeking this Court’s entry
of an order directing the Receiver and Wells Fargo Bank, N.A. (collectively, the “Parties”) to
mediation of all unresolved matters pending between the Receiver and Wells Fargo within fortyfive (45) days of the order, and also directing the attendance of a Wells Fargo corporate officer
who has authority over all of the autonomous business units and is capable of resolving all
pending matters between the Parties. The Securities and Exchange Commission does not oppose
the Receiver’s motion, nor does Wells Fargo.
Given the fact that the Parties have already spent significant time, money and resources
litigating Wells Fargo’s purported and unresolved claims to Receivership assets, as well as the
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Receiver’s pending claims against Wells Fargo for its role in Nadel’s Ponzi scheme, the Court
agrees with the Receiver that it is in the best interest of the Receiver, Wells Fargo and the
defrauded investors to pursue mediation in an effort to resolve all of the remaining issues
between the Parties. Thus, the Receiver and Wells Fargo are directed to select an agreed-upon
mediator, as well as the date, time and location of the mediation, to occur within forty-five (45)
days of the entry of this Order. The Parties are to appear at the mediation personally by counsel
and Wells Fargo is further directed to appear by a designated corporate officer who is authorized
to represent all of Wells Fargo’s autonomous business units and globally resolve all remaining
disputes between the Parties. The Receiver is directed to notify the Court of the selected
mediator, date, time and location of the mediation upon their determination.
DONE AND ORDERED at Tampa, Florida, on May 14, 2012.

____________________________________
RICHARD A. LAZZARA
UNITED STATES DISTRICT JUDGE
COPIES FURNISHED TO:
Counsel of Record

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