Securities and Exchange Commission v. Aequitas Management, LLC et al
Filing
1004
ORDER: Adopting the Magistrate's Findings and Recommendation 998 . The Receiver's Motion for Order (1) Approving Compromises of Claims, (2) Authorizing Performance of Settlement, (3) Authorizing Disbursement of Funds Held in a Segregated Account 980 is Granted. Signed on 10/13/22 by Judge Marco A. Hernandez. (Deposited in outgoing mail to pro se party on 10/14/22.) (gm)
IN THE UNITED STATES DISTRICT COURT
FOR THE DISTRICT OF OREGON
Securities and Exchange Commission,
Plaintiff,
No. 3:16-cv-00438-JR
ORDER
v.
Aequitas Management, LLC, et al.,
Defendants.
HERNÁNDEZ, District Judge:
Magistrate Judge Jolie A. Russo issued a Findings and Recommendation on August 22,
2022, in which she recommends that the Court grant the Receiver’s Motion for an Order
(1) Approving Compromises of Claims, (2) Authorizing Performance of Settlement, and
(3) Authorizing Disbursement of Funds Held in A Segregated Account. F&R, ECF 998. The
matter is now before the Court pursuant to 28 U.S.C. § 636(b)(1)(B) and Federal Rule of Civil
Procedure 72(b).
1 – ORDER
Because no objections to the Magistrate Judge’s Findings and Recommendation were
timely filed, the Court is relieved of its obligation to review the record de novo. United States v.
Reyna-Tapia, 328 F.3d 1114, 1121 (9th Cir. 2003) (en banc); see also United States v.
Bernhardt, 840 F.2d 1441, 1444 (9th Cir. 1988) (de novo review required only for portions of
Magistrate Judge’s report to which objections have been made). Having reviewed the legal
principles de novo, the Court finds no error.
CONCLUSION
The Court adopts Magistrate Judge Russo’s Findings and Recommendation [998]. The
Receiver’s Motion for an Order (1) Approving Compromises of Claims, (2) Authorizing
Performance of Settlement, and (3) Authorizing Disbursement of Funds Held in A Segregated
Account [980] is granted. Accordingly, the Court enters the following order:
The settlement agreements with (1) Gillis Management Solutions, Inc.; (2) Ocean
Avenue Financial Services, LLC; (3) The Liquidating Trust of the Bankruptcy Estate of Tango
Delta Financial, Inc.; (4) Michael Pirello; (5) Petrawest, Ltd. and Gerald T. Raydon; (6) Jae Son;
(7) Larry Welch; (8) The Welch Family 2008 Revocable Trust dtd 10/15/2008; and (9) Mary
Greenheck are approved.
The Receiver is authorized to perform on each of the Settlement Agreements and to
disburse $2,483,403.38 plus accrued interest held in a segregated account, to be utilized in
accordance with the terms of the Receivership Order, the Court-approved Distribution Plan, and
the Settlement Agreement with the Liquidating Trust of the Bankruptcy Estate of Tango Delta
2 – ORDER
Financial, Inc.
IT IS SO ORDERED.
DATED: __________________________.
October 13, 2022
MARCO A. HERNÁNDEZ
United States District Judge
3 – ORDER
Disclaimer: Justia Dockets & Filings provides public litigation records from the federal appellate and district courts. These filings and docket sheets should not be considered findings of fact or liability, nor do they necessarily reflect the view of Justia.
Why Is My Information Online?