Securities and Exchange Commission v. Nadel et al

Filing 87

Unopposed MOTION for miscellaneous relief, specifically Approval of Disposition of Leased Vehicle (Volkswagen) by Burton W. Wiand. (Nelson, Carl)

Securities and Exchange Commission v. Nadel et al

Doc. 87

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, 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.
/

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

RECEIVER'S UNOPPOSED MOTION FOR APPROVAL OF DISPOSITION OF LEASED VEHICLE
Burton W. Wiand, as Receiver, by and through his undersigned counsel moves the
Court to approve disposition of a 2009 Volkswagen EOS leased to Valhalla Management,

Inc. by VW Credit Leasing, Ltd. in accordance with the terms of the Receipt and Release
Agreement attached as Exhibit A.

MEMORANDUM IN SUPPORT
The Receiver was appointed by Order dated January 21, 2009 (Doc. 8), over several

Dockets.Justia.com

companies, including Valhalla Management, Inc. The Receiver has determined there is no

need for the Volkswagen EOS and there is no equity in the vehicle that could enure to the
benefit of the Receivership Estate. Therefore the Receiver wishes to terminate the lease and
return the vehicle to its owner, VW Credit Leasing, Ltd.

The Court will note that under the attached Receipt and Release Agreement VW
Credit Leasing, Ltd. releases the Receiver and the Receivership Estate from any claims it
may have. The Receiver submits the proposed resolution of the lease is in the best interest of

the Receivership Estate and the defrauded investors, because it wil dispose of a potential
claim against the Receivership Estate.

LOCAL RULE 3.01(2) CERTIFICATE OF COUNSEL
The undersigned counsel for the receiver has conferred with counsel for the SEC and
is authorized to represent to the Court that this motion is unopposed.

CERTIFICATE OF SERVICE
I hereby certify that on March 19, 2009, I electronically filed the foregoing with the

Clerk of the Court by using the CM/ECF system. I further certify that I mailed the foregoing
document and the notice of electronic filing by first-class mail to the following non-CM/ECF
participant:
Arhur G. Nadel

Register No. 50690-018

MCCNewYork
Metropolitan Correctional Center 150 Park Row New York, NY 10007

2

sf Carl R. Nelson

Carl R. Nelson, FBN 0280186 cnelsonêfowlerwhite.com Gianluca Morello, FBN 034997
gianluca.morelloêfow 1 erwhi teo com

Ashley B. Trehan, FBN 0043411 ashley. trehanêfow lerwhite.com Maya M. Lockwood, FBN 0175481 mlockwoodêfowlerwhite.com FOWLER WHITE BOGGS P.A. 501 E. Kennedy Blvd., Suite 1700
Tampa, FL 33602

Phone [phone]

Fax [phone] Attorneys for the Receiver Burton W. Wiand

3

RECEIPT AND RELEASE AGREEMENT

VW Credit Leasing, Ltd. ("Lessor"), by and through its duly authorized undersigned
representative, in consideration of the release to Lessor of a 2009 Volkswagen EOS, VIN:

WVWBA71F99V003478 ("the vehicle"), by Burton W. Wiand, as Receiver over Valhalla
Management, Inc. and other entities under order of the United States District Couit for the Middle
District of Florida in Securities and Exchange Commission v. Ai1hur NadeL, et aI, Case No.; 8:09cv-87MT-26TBM, hereby Wali'ants Lessor is the title holder and owner of

the vehicle; aclaowledges

receipt of the vehicle as is where is at the Venice Jet Center, Venice, Florida; and releases the

Receiver and the Receivership Estate of and from any claim Lessor may have, including hut not
limited to claims under the terms of that certain Motor Vehicle Lease Agreement dated 10/2/2008
("Lease Agreement").

Lessor fui1her states that the turn in fee referenced in Paragraph 3 of the Lease Agreement
wil not be refunded to the Lessee due to the termination of the Lease Agreement.

Lessor further warrants that no security deposit was paid as contemplated by Paragraph 30 of
the Lease Agreement.

Nothing herein is to be deemed or considered to be a release of any rights Lessor may have

against any other patty obligated under the terms of the Lease Agreement, and Lessor hereby
expressly reserveS aU such rights and remedies, at law or in equity.

Lessor acknowledges and agrees that a signed and electronically transmitted copy of this
document is as fully enforceable as an original document.

VW Credit Lea~

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