US Securities and Exchange Commission v. Davis et al
Filing
159
ORDER granting 152 Receiver's Motion to Sell Real Property - 16614 Old Statesville Rd. - Free and Clear of Liens. Signed by Senior Judge Graham Mullen on 12/6/17. (tob)
IN THE UNITED STATES DISTRICT COURT
FOR THE WESTERN DISTRICT OF NORTH CAROLINA
CHARLOTTE DIVISION
CASE NO. 3:16-CV-285
SECURITIES AND EXCHANGE
COMMISSION,
Plaintiff,
v.
RICHARD W. DAVIS, JR.,
Defendant,
ORDER GRANTING MOTION FOR
AUTHORITY TO SELL REAL
PROPERTY – 16614 OLD
STATESVILLE ROAD - FREE AND
CLEAR OF LIENS
and
DCG REAL ASSETS, LLC, et al.,
Relief Defendants.
This matter came before the Court upon the Motion for Authority to Sell Real Property –
16614 Old Statesville Road – Free and Clear of Liens (Doc. No. 152) (the “Motion”) by A. Cotten
Wright, as the duly-appointed receiver in the above-captioned action, through counsel. It appears
that notice of the Motion was proper, the deadline to object to the Motion has expired and that no
objections were filed in response to the Motion.
The Court, having reviewed the Motion and the record in this case, has determined that it
would be in the best interest of the receivership estate to permit the Receiver to sell certain real
property—described as 16614 Old Statesville Road, Huntersville, North Carolina, Mecklenburg
County, Tax Parcel No. 011-021-45, map reference Lot 3-M56-31 (the “Real Property”) for the
sum of $700,000.00 to the Charlotte Metro Federal Credit Union pursuant to the terms of the Real
Estate Purchase Contract, a copy of which is attached to the Motion as “Exhibit A” (the
“Contract”).
IT IS, THEREFORE, ORDERED that
(1)
The Motion is granted;
(2)
The Receiver is authorized to close on the sale of the Real Property pursuant to the
terms of the Contract including executing necessary documentation customary in real estate
closings such as deeds, lien waivers, 1099 forms and other similar documents;
(3)
The sale shall be free and clear of liens with any lien attaching to proceeds; and
(4)
The Receiver is authorized to deposit the Sale proceeds, net of the
realtor
commissions, taxes, closing costs, and other expenses typically paid by the sellers in a real
property transaction, to the Receivership bank account to be held pending further Order
from this Court.
Signed: December 6, 2017
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