Federal Trade Commission v. Ideal Financial Solutions, Inc. et al

Filing 271

ORDER Granting 270 Stipulation Extending Completion Deadline for Receiver. Preliminary Injunctions in effect until 8/22/18. Signed by Judge Jennifer A. Dorsey on 8/16/17. (Copies have been distributed pursuant to the NEF - ADR)

Ballard Spahr LLP
655 West Broadway, Suite 1600
San Diego, California 92101-8494

Case 2:13-cv-00143-JAD-GWF Document 270 Filed 08/09/17 Page 1 of 6

1 Thomas W. McNamara
[e-mail]
2 655 West Broadway, Suite 1600
San Diego, California 92101
3 Tel.: [phone]
Fax: [phone]
4
Court-Appointed Receiver
5
Abran E. Vigil (NV 7548)
6 [e-mail]
BALLARD SPAHR LLP
7 100 North City Parkway, Suite 1750
Las Vegas, Nevada 89106-4617
8 Tel.: [phone]
Fax: [phone]
9
Andrew W. Robertson (Pro Hac Vice)
[e-mail]
10
Daniel M. Benjamin (Pro Hac Vice)
11 [e-mail]
MCNAMARA SMITH LLP
12 655 West Broadway, Suite 1600
San Diego, California 92101
13 Tel.: [phone]
Fax: [phone]
14
Attorneys for Court-Appointed Receiver
15
UNITED STATES DISTRICT COURT
DISTRICT OF NEVADA

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18 FEDERAL TRADE COMMISSION,
Plaintiff,

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v.

IDEAL FINANCIAL SOLUTIONS, INC., et
21 al.,
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Defendants.

Case No. 2:13-CV-0143-JAD-GWF
STIPULATION AND ORDER
EXTENDING COMPLETION DEADLINE
FOR RECEIVER
JUDGE:
CTRM:

Hon. Jennifer A. Dorsey
6C

Case 2:13-cv-00143-JAD-GWF Document 270 Filed 08/09/17 Page 2 of 6

1

WHEREAS, the plaintiff Federal Trade Commission (“FTC”) instituted this action

2 against Defendants Ideal Financial Solutions, Inc.; Ascot Crossing, LLC; Chandon Group, Inc.;
3 Bracknell Shore, Ltd.; Fiscal Fitness, LLC; Avanix, LLC; Steven Sunyich; Christopher Sunyich;
4 Michael Sunyich; Shawn Sunyich; Melissa Sunyich Gardner; Kent Brown; and Jared Mosher
5 (collectively, “Defendants”).
6

WHEREAS, Thomas W. McNamara was first appointed Receiver in this matter by a

7 Temporary Restraining Order (“TRO”) filed January 30, 2013 (ECF No. 10), which appointment
8 was confirmed, and the temporary designation removed, by the Preliminary Injunctions entered
9 February 15, 2013 (ECF No. 18) and May 10, 2013 (ECF No. 49).
10

WHEREAS, on November 16, 2015, the Receiver initiated litigation in this Court against

Ballard Spahr LLP
655 West Broadway, Suite 1600
San Diego, California 92101-8494

11 third parties entitled McNamara v. Voltage Pay, Inc., et al., D. Nev. Case No. 2:15-cv-02177 (the
12 “Voltage Action”).
13

WHEREAS, on February 23, 2016, this Court entered an Order Granting, in Part, Motion

14 for Summary Judgment and Motion for Default Judgment, Entering Final Judgment, and Closing
15 Case (ECF No. 248) (the “Judgment”) that stated, in relevant part: “The Receiver must complete
16 all duties within 180 days of this order, but any party or the Receiver may request an extension
17 or shortening of the Receiver’s term for good cause.” (ECF No. 248 at 24:2-3).
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WHEREAS, on August 12, 2016, the Receiver submitted a Stipulation and Order

19 extending the deadline for the completion of his duties. (ECF No. 254.)
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WHEREAS, on August 15, 2016, the Court entered the Order which extended the

21 Receiver’s completion deadline to August 22, 2017 (ECF No. 255).
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WHEREAS, at the request of the FTC and as authorized by this Court, the Receiver is

23 currently carrying out the foreclosure process on various properties belonging to the Defendants,
24 at least one of which is subject to a one-year redemption period that likely prevents any sale until
25 the redemption period has expired, as specified in the Receiver’s Quarterly Report filed on
26 August 7, 2017.
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WHEREAS, the Voltage Action is still pending, with expert discovery ongoing.

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Case 2:13-cv-00143-JAD-GWF Document 270 Filed 08/09/17 Page 3 of 6

1

WHEREAS, the FTC and Receiver are therefore in agreement that there is good cause to

2 extend the receivership for one year, until August 22, 2018; provided, however, that should the
3 Receiver complete the foreclosures and the Voltage Action prior to that date, then within thirty
4 days of completion of all such tasks, the Receiver shall make an application to close the
5 receivership, to discharge and exonerate the Receiver, and for approval of any then-outstanding
6 fees and costs.
7

NOW THEREFORE, it is hereby stipulated by and between the FTC and the Receiver as

8 follows:
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1.

The Preliminary Injunctions, including but not limited to the appointment of the

10 Receiver, created in ECF Nos. 18, and 49, as those Preliminary Injunctions were then modified
Ballard Spahr LLP
655 West Broadway, Suite 1600
San Diego, California 92101-8494

11 by ECF No. 248 and ECF No. 255, are hereby continued in full force and effect until August 22,
12 2018.
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2.

Should the Receiver complete the foreclosures and the Voltage Action prior to

14 August 22, 2018, then within thirty days of completion of all such tasks, the Receiver shall make
15 an application to close the receivership, to discharge and exonerate the Receiver, and for
16 approval of any then-outstanding fees and costs.
17 Dated: August 9, 2017

FEDERAL TRADE COMMISSION

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By: /s/ R. MICHAEL WALLER
R. MICHAEL WALLER
Attorneys for Plaintiff
FEDERAL TRADE COMMISSION

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21 Dated: August 9, 2017

MCNAMARA SMITH LLP

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By: /s/ DANIEL M. BENJAMIN
Daniel M. Benjamin
Attorneys for Thomas W. McNamara,
Court-Appointed Receiver

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IT IS SO ORDERED.

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Dated: August 16, 2017.

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__________________________________
UNITED STATES DISTRICT JUDGE

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