United States Securities and Exchange Commission

Filing 253

ORDER Granting 250 Motion of Receiver to Authorize Payoff of Land Contract for Property Located at 2029 S. Elms Road, Swartz Creek, Michigan. Signed by District Judge Matthew F. Leitman. (HRya)

Case 4:17-cv-10963-MFL-SDD ECF No. 253, PageID.4196 Filed 01/28/22 Page 1 of 4

UNITED STATES DISTRICT COURT
EASTERN DISTRICT OF MICHIGAN
UNITED STATES SECURITIES AND
EXCHANGE COMMISSION,
Plaintiff,
v.
TREASURE ENTERPRISE LLC,
PATRICIA ENRIGHT GRAY and LARRY
ALLEN HOLLEY

No. 17-cv-10963
Hon. Matthew F. Leitman

Defendants,
and
KINGDOM ASSET MANAGEMENT LLC
and CARLEEN RENEE HOLLEY,
Relief Defendants.
ORDER GRANTING MOTION OF RECEIVER TO
AUTHORIZE PAYOFF OF LAND CONTRACT FOR PROPERTY
LOCATED AT 2029 S. ELMS ROAD, SWARTZ CREEK, MICHIGAN
This matter having come before the Court upon the Motion of Receiver for
Authority to Sell Real Estate Located at 2029 S. Elms Road, Swartz Creek,
Michigan (the “Motion”) filed by O’Keefe & Associates Consulting, LLC and
Patrick O’Keefe (the “Receiver”); due and sufficient notice having been given; no
objections to the relief requested in the Motion having been filed, or all such
objections having been overruled; and the Court being fully advised in the
premises:

4894-4986-0359

Case 4:17-cv-10963-MFL-SDD ECF No. 253, PageID.4197 Filed 01/28/22 Page 2 of 4

THE COURT HEREBY FINDS THAT:
A.

This Court has jurisdiction over this action pursuant to Section 22 of

the Securities Act of 1933 [15 U.S.C. § 77a et seq.] and Section 27 of the
Securities Exchange Act of 1934 [15 U.S.C. § 78a et seq.] (the “Exchange Act”).
B.

Venue is proper in this Court pursuant to Section 27 of the Exchange

C.

The Receiver is the duly appointed receiver pursuant to this Court’s

Act.

Sealed Order Appointing Receiver [Docket No. 10] entered on March 28, 2017
(the “Receivership Order”).
D.

Due, timely and appropriate notice of the Motion and an opportunity

to object or be heard with respect to the Motion and the relief requested therein has
been provided to all interested persons and entities.
E.

The Court has reviewed the Motion and all other pleadings of record

related to the Motion.
F.

The Court also has considered the arguments of counsel at the hearing

on approval of the Motion.
G.

The Purchase Agreement, as that term is defined in the Motion, is the

result of an arm’s length negotiation, undertaken consistent with and within the
scope of the Receiver’s duties under the Receivership Order.

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G.

Proper publication of the proposed sale of the property subject to the

Purchase Agreement has occurred, consistent with the requirements of 28 U.S.C.
§2002, and sale of the Property is otherwise consistent with the requirements of 28
U.S.C. §2001.
NOW, THEREFORE, IT IS ORDERED AND ADJUDGED THAT:
1.

The Motion is GRANTED in its entirety.

2.

The Receiver is authorized to sell the Property commonly known as

2029 S. Elms Road, Swartz Creek, Michigan, and more fully described in the
Purchase Agreement attached as Exhibit A to the Motion (the “Property”), free
and clear of all liens, claims and encumbrances, pursuant and subject to the terms
of the Purchase Agreement.
3.

The Receiver is authorized to enter into the Purchase Agreement.

4.

In connection with the closing under the Purchase Agreement, the

Receiver is authorized to execute any and all documents reasonably required to
consummate the sale of the Property, and to take all steps reasonable and necessary
related thereto, including but not limited to the payment of subject to usual and
customary pro-rations and all ordinary and necessary closing costs and commission
to Signature Associates.
5.

All liens against the Property shall be transferred to the proceeds of

sale, and shall not be disbursed, pending further order of this Court (provided,
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however, that unpaid taxes and water bills which constitute a lien against the
Property, may be paid at the time of closing).
IT IS SO ORDERED.
s/Matthew F. Leitman
MATTHEW F. LEITMAN
UNITED STATES DISTRICT JUDGE
Dated: January 28, 2022
I hereby certify that a copy of the foregoing document was served upon the parties
and/or counsel of record on January 28, 2022, by electronic means and/or ordinary
mail.
s/Holly A. Ryan
Case Manager
[phone]

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