Securities and Exchange Commission v. Rex Venture Group, LLC et al

Filing 499

ORDER granting #487 Motion for Limited Modification of Order Approving Distribution Procedures and Certain Other Related Relief. Signed by Senior Judge Graham Mullen on 4/27/2016. (Pro se litigant served by US Mail.)(tmg)

IN THE UNITED STATES DISTRICT COURT
FOR THE WESTERN DISTRICT OF NORTH CAROLINA
CHARLOTTE DIVISION

SECURITIES AND EXCHANGE
COMMISSION,
Plaintiff,
vs.
REX VENTURE GROUP, LLC
d/b/a ZEEKREWARDS.COM, and
PAUL BURKS,
Defendants,

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No. 3:12-CV-519

ORDER GRANTING RECEIVER’S MOTION FOR LIMITED MODIFICATION
OF ORDER APPROVING DISTRIBUTION PROCEDURES
AND CERTAIN OTHER RELATED RELIEF
Upon the Receiver’s Motion for Limited Modification of Order Approving Distribution
Procedures and Certain Other Related Relief (the “Motion”); and the Court having reviewed the
Motion; and it appearing that proper and adequate notice of the Motion has been given and that no
other or further notice is necessary; and upon the record herein; and after due deliberation thereon;
and good and sufficient cause appearing therefor,
IT IS, THEREFORE, ORDERED, ADJUDGED, AND DEGREED that:
1.

The Motion is GRANTED in its entirety.

2.

Paragraph 34 of the Order Approving Distribution Procedures and Certain Other

Related Relief (the “Initial Order”) is hereby modified so that the Receiver may pay certain Foreign
Affiliates by wire transfer in U.S. dollars if the conditions in paragraph 3 below are satisfied. The

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Initial Order remains in full force and effect except to the extent provided herein. To the extent
this Order conflicts with the Initial Order, this Order shall control.
3.

In order for a Foreign Affiliate to be eligible to receive its Distribution(s) by wire

transfer in U.S. Dollars, the Foreign Affiliate is required to have: i) either been sent a Distribution
check that has not been cashed or not yet been sent a Distribution check; ii) logged into the Claim
Portal and requested payment of their Distribution by wire through a link that only Foreign
Affiliates in the first category will be uniquely able to access; iii) provided all the necessary wire
information requested on the Claim Portal; iv) agreed to pay, as a deduction from its Distribution,
any and all fees incurred in sending and/or receiving the wire(s) (including without limitation any
currency conversion fee associated with receiving a wire in U.S. dollars); v) agreed to pay, as a
deduction from its Distribution, any costs associated with canceling any uncashed check issued by
the Receiver to the Foreign Affiliate; vi) agreed that the Receiver is not responsible for and shall
have no liability in regard to any fees and or costs deducted from the Distribution by the recipient
financial institution, including without limitation the currency conversion rate used by the recipient
financial institution; vii) acknowledged that the wire(s) will be payable on the same schedule as
Distributions payable by check; and viii) agreed to release the Receiver and the Receivership Team
on account of any liability associated with the sending of the wire, including without limitation a
misdirected wire caused by incorrect wire information being provided by the Foreign Affiliate or
a change in the exchange rate of their local currency and the U. S. dollar.

Signed: April 27, 2016

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