USACM Liquidating Trust v. Placer County Land Speculators, LLC et al
Filing
839
ORDER Granting 833 Motion for Order (1) Authorizing Receiver to Obtain New Financing and Issue Receiver Certificates; and (2) Approving Forbearance Agreement. Signed by Judge Kent J. Dawson on 2/19/15. (Copies have been distributed pursuant to the NEF - MMM)
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PAUL J. PASCUZZI, CA State Bar No. 148810
FELDERSTEIN FITZGERALD
WILLOUGHBY & PASCUZZI LLP
400 Capitol Mall, Suite 1750
Sacramento, CA 95814
Telephone: (916) 329-7400
Facsimile: (916) 329-7435
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Attorneys for Elli M. A. Mills, J.D., MBA, Receiver
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UNITED STATES DISTRICT COURT
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DISTRICT OF NEVADA
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USACM LIQUIDATING TRUST,
Plaintiff,
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v.
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Civil Action No. 2:08-cv-01276-KJD-RJJ
PLACER COUNTY LAND
SPECULATORS, LLC, aka PLACER
COUNTY LAND INVESTORS, LLC; et
al,
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Date:
Time:
Judge:
February 10, 2015
9:00 a.m.
Hon. Kent J. Dawson
Defendants
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ORDER: (1) AUTHORIZING RECEIVER TO OBTAIN NEW
FINANCING AND ISSUE RECEIVER CERTIFICATES;
AND (2) APPROVING FORBEARANCE AGREEMENT
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Upon consideration of the Motion of Receiver for Order: (1) Authorizing Receiver to
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Obtain New Financing and Issue Receiver Certificates; and (2) Approving Forbearance
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Agreement [Docket No. 833], the Court having considered the motion and arguments, and good
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cause appearing,
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IT IS ORDERED that:
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1.
The motion is granted.
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2.
The Receiver is authorized to obtain new financing with Socotra Capital as set
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forth in the Motion, or other financing on more favorable terms, if such can be obtained.
3.
In the event the Receiver is able to obtain other financing on more favorable terms,
the Receiver is directed as follows:
-1-
ORDER AUTHORIZING RECEIVER
TO OBTAIN NEW FINANCING
& ISSUE RECEIVER CERTIFICATES
a.
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and why the proposed financing is more favorable;
b.
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The Owners shall have 10 days from service of the notice to object solely
on the issue of whether the proposed financing is more favorable;
c.
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The Receiver shall send a notice to the Owners describing such financing
In the event of a dispute over whether the proposed financing is more
favorable, the Court will hold a hearing solely on that issue; and
d.
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In the event of no dispute over whether the proposed financing is more
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favorable after the 10 day period expires, the Receiver shall submit a supplemental order
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approving the more favorable financing.
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4.
The Receiver is authorized to issue receiver certificates, if necessary, in connection
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with such financing and to take all other actions necessary to obtain and implement the new
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financing.
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5.
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The forbearance agreement with Gold Coast as set forth in the Motion is approved.
Dated: __________________
February 19, 2015
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UNITED STATES DISTRICT JUDGE
District of Nevada
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-2-
ORDER AUTHORIZING RECEIVER
TO OBTAIN NEW FINANCING
& ISSUE RECEIVER CERTIFICATES
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