William Walt Pettit, Receiver, v. Allen et al

Filing 62

ORDER re 61 MOTION for Settlement Approval. Receiver shall submit to Court under seal the stlmt agmts to be approved and confirmed. Court will decide in a subsequent order whether Receiver shall be given authority requested. Signed by District Judge Richard Voorhees on 12/10/2012. (cbb)

IN THE UNITED STATES DISTRICT COURT
FOR THE WESTERN DISTRICT OF NORTH CAROLINA
STATESVILLE DIVISION
CASE NO. 5:11-CV-00158-RLV-DSC
WILLIAM WALT PETTIT,
in his capacity as court-appointed
receiver for the Biltmore Financial
Group, Inc.,
Plaintiff,
v.
STEPHEN ALLEN, et al.,
Defendants.

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ORDER

THIS MATTER is before the Court on Receiver Pettit’s Motion for Settlement
Approval. (Doc. 61.)
Receiver shall submit to the Court under seal the settlement agreements to be approved
and confirmed.
The Court will decide in a subsequent order whether Receiver shall be given the authority
requested “to settle and resolve the instant litigation with respect to additional Defendants
without further Court review and approval provided any such settlement agreements provide for
the recovery by the Receivership Estate from any Defendant, or Defendants in the event of jointly
held accounts, of no less than eighty percent (80%) of the Transferred Funds as alleged in the
Complaint.” (Doc. 61 at 3.)

Signed: December 10, 2012