Helix Investment Management, SLP v. Privilege Direct Corp. et al

Filing 187

ORDER: The Reports and Recommendations (Doc. ## 184, 185, 186) are ACCEPTED and ADOPTED. Helix Investment Management, LP's Motion for Entry of Default Judgment against Privilege Direct Corp. (Doc. # 127) and Amended Motion for Entry of Defau lt Judgment against Oliphant Financial Group, LLC (Doc. # 175) are GRANTED. Helix's Motion for Attorney Fees and Costs (Doc. # 170) is GRANTED IN PART. The Clerk is directed to enter judgment in favor of Helix Investment Management, LP, and against Privilege Direct Corp. and Oliphant Financial Group, LLC, as set forth in the Order. Thereafter, the Clerk is directed to CLOSE THE CASE. Signed by Judge Virginia M. Hernandez Covington on 11/5/2019. (MWS)

UNITED STATES DISTRICT COURT
MIDDLE DISTRICT OF FLORIDA
TAMPA DIVISION
HELIX INVESTMENT MANAGEMENT, LP,
Plaintiff,
v.

Case No. 8:18-cv-206-T-33AEP

PRIVILEGE DIRECT CORP., et al.,
Defendants.
/
ORDER
On October 18, 2019, United States Magistrate Judge
Anthony E. Porcelli entered Reports and Recommendations (Doc.
## 185, 186), recommending that Helix’s Motion for Entry of
Default Judgment against Privilege Direct Corp. (Doc. # 127),
and Amended Motion for Entry of Default Judgment against
Oliphant Financial Group, LLC (Doc. # 175), be granted. Also
on October 18, 2019, Judge Porcelli entered a Report and
Recommendation recommending that Helix’s Motion for Attorney
Fees and Costs (Doc. # 170) be granted in part. (Doc. # 184).
No objections have been filed for any of the Reports and
Recommendations,

and

the

time

for

the

submission

of

objections has expired.
After conducting a careful and complete review of the

1

findings and recommendations, a district judge may accept,
reject,

or

modify

recommendation.

28

the

magistrate

U.S.C.

§

judge’s

636(b)(1);

report
Williams

and
v.

Wainwright, 681 F.2d 732 (11th Cir. 1982). In the absence of
specific objections, there is no requirement that a district
judge review factual findings de novo, Garvey v. Vaughn, 993
F.2d 776, 779 n.9 (11th Cir. 1993), and the court may accept,
reject, or modify, in whole or in part, the findings and
recommendations. 28 U.S.C. § 636(b)(1)(C). The district judge
reviews legal conclusions de novo, even in the absence of an
objection. See Cooper-Houston v. S. Ry. Co., 37 F.3d 603, 604
(11th Cir. 1994); Castro Bobadilla v. Reno, 826 F. Supp. 1428,
1431-32 (S.D. Fla. 1993), aff’d, 28 F.3d 116 (11th Cir. 1994)
(Table).
After conducting a careful and complete review of the
findings, conclusions, and recommendations, and giving de
novo review to matters of law, the Court accepts the factual
findings and legal conclusions of the magistrate judge with
respect to the above-mentioned motions.
Accordingly, it is now
ORDERED, ADJUDGED, and DECREED:
(1)

The Reports and Recommendations (Doc. ## 184, 185, 186)
2

are ACCEPTED and ADOPTED.
(2)

Helix Investment Management, LP’s Motion for Entry of
Default Judgment against Privilege Direct Corp. (Doc. #
127) and Amended Motion for Entry of Default Judgment
against Oliphant Financial Group, LLC (Doc. # 175) are
GRANTED.

(3)

Helix’s Motion for Attorney Fees and Costs (Doc. # 170)
is GRANTED IN PART.

(4)

The Clerk is directed to enter judgment in favor of Helix
Investment Management, LP, and against Privilege Direct
Corp. and Oliphant Financial Group, LLC, as follows:
(a)

Helix is awarded monetary damages against Privilege
in the amount of $1,633,744.73, plus pre-judgment
interest;

(b)

Oliphant Financial Group is liable to Helix for
Count

I

for

breach

of

the

Oliphant

Security

Agreement; Counts III, IV, V, and VI for breach of
Promissory Notes Numbers 1 through 4; and Count VII
for breach of the March 2, 2016, Binding Term Sheet;
(c)

Oliphant Financial Group must transfer all legal
and

beneficial

portfolios

interest

K0001

through
3

and

ownership

K0006,

and

in

Evine

debt
469

through 471 to Helix;
(d)

Oliphant Financial Group must transfer all legal
and beneficial interest in debt portfolios K0007
(20%

share

interest)

and

K0008

(12.5%

share

interest) to Helix;
(e)

Oliphant

Financial

Group

shall

pay

a

monetary

judgment to Helix in the amount of the face value
of Promissory Notes 01 through 04, which totals
$5,441,990.85, plus interest;
(f)

All

rights

and

Securitisation
Wealth’”

under

benefits
Fund

the

accorded

to

Compartment

Oliphant

“Helix

‘Privilege

Security

Agreement

(Doc. # 95-1) are deemed to inure to the benefit of
Helix, and Helix may enforce all such rights and
benefits

against

all

parties

to

the

Oliphant

Security Agreement;
(g)

Helix

is

granted

a

security

interest

in

the

Collateral identified under Annexure “A” of the
Agreement, including:
(i)

Promissory Note 01 (Doc. # 95-5)

(ii)

Promissory Note 02 (Doc. # 95-6)

(iii)

Promissory Note 03 (Doc. # 95-7)
4

(iv)
(v)

K0001 debt portfolio (Doc. # 95-4)

(vi)

K0002 debt portfolio (Doc. # 95-4)

(vii)

K0003 debt portfolio (Doc. # 95-4)

(viii)

K0004 debt portfolio (Doc. # 95-4)

(ix)

K0005 debt portfolio (Doc. # 95-4)

(x)

K0006 debt portfolio (Doc. # 125-8)

(xi)

Evine 469 debt portfolio (Doc. # 95-4)

(xii)

Evine 470 debt portfolio (Doc. # 95-4)

(xiii)
(h)

Promissory Note 04 (Doc. # 95-8)

Evine 471 debt portfolio (Doc. # 95-4);

Helix is entitled to take the following rights and
remedies as a result of the default of the Oliphant
Security Agreement:
(i)

Collect

all

Collateral

and

to

take

control and possession of all cash or
non-cash proceeds of the Collateral;
(ii)

enforce payment of any Collateral, to
prosecute any action or proceeding with
respect to the Collateral, to extend the
time

of

payment

Collateral,

to

of
make

any

and

all

allowance

and

adjustments with respect thereto and to
5

issue credits in the name of Oliphant and
or PD; and
(iii)

to exercise other rights and remedies
under the Oliphant Security Agreement,
the PW Promissory Notes and the Financing
Agreement

and

the

Notes

that

are

available to a secured creditor under the
Florida Uniform Commercial Code or that
are otherwise available at law or in
equity, at any time, in any order and in
any combination;
(i)

Privilege and Oliphant Financial Group are jointly
and severally liable to Helix for attorney’s fees
in the amount of $151,982.50 and costs totaling
$4,756.39.

(5)

Thereafter, the Clerk is directed to CLOSE THE CASE.
DONE and ORDERED in Chambers, in Tampa, Florida, this

5th day of November, 2019.

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