US Commodity Futures Trading Commission v. RFF GP LLC et al

Filing 89

MEMORANDUM ORDER ADOPTING REPORT AND RECOMMENDATION OF THE UNITED STATES MAGISTRATE JUDGE for 44 Motion for Miscellaneous Relief, filed by Kelly M. Crawford, 82 Report and Recommendations, GRANTING 44 MOTION PETITION NO. 3 - Recei ver's Proposed Liquidation and Distribution Plan filed by Kelly M. Crawford, GRANTING 84 Unopposed MOTION Petition No. 10: Receiver's Unopposed Petition to Make First Interim Distribution to Investors filed by Kelly M. Crawford. Signed by Judge Richard A. Schell on 3/7/2014. (baf, )

IN THE UNITED STATES DISTRICT COURT
FOR THE EASTERN DISTRICT OF TEXAS
SHERMAN DIVISION
U.S. COMMODITY FUTURES TRADING
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COMMISSION,
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Plaintiff,
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v.
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RFF GP, LLC, KGW CAPITAL
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MANAGEMENT, LLC, and KEVIN G.
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Case No.: 4:13-cv-382
WHITE,
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Defendants,
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REVELATION FOREX FUND, LP,
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MERIDIAN PROPANE LP, and
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W CORPORATE REAL ESTATE, LP d/b/a
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KGW REAL ESTATE,
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Relief Defendants.
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____________________________________________________________________________________
SECURITIES AND EXCHANGE COMMISSION,
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Plaintiff,
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v.
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Case No.: 4:13-cv-383
KEVIN G. WHITE,
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KGW CAPITAL MANAGEMENT, LLC,
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REVELATION FOREX FUND, L.P., and
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RFF GP, LLC,
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Defendants,
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and
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MERIDIAN PROPANE, L.P., and
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W CORPORATE REAL ESTATE L.P. d/b/a
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KGW REAL ESTATE,
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Relief Defendants.
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MEMORANDUM ADOPTING REPORT AND RECOMMENDATION OF THE
UNITED STATES MAGISTRATE JUDGE AND
ORDER GRANTING RECEIVER’S UNOPPOSED PETITION TO MAKE FIRST
INTERIM DISTRIBUTION TO INVESTORS
Came on for consideration the report of the United States Magistrate Judge in this action, this
matter having been heretofore referred to the United States Magistrate Judge pursuant to 28 U.S.C.
§ 636. On February 4, 2014, the report of the Magistrate Judge was entered containing proposed
findings of fact and recommendation that the Receiver’s Proposed Distribution Plan as set forth in
Petition No. 3 in 4:13cv382 (see Dkt. 44) and Petition No. 4 in 4:13cv383 (see Dkt. 49) be
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APPROVED. On February 10, 2014, the Receiver filed Petition No. 10 in 4:13cv382 (see Dkt. 84)
and Petition No. 9 in 4:13cv383 (see Dkt. 89), its Unopposed Petition to Make First Interim
Distribution to Investors pursuant to the Receiver's proposed plan.
Having received the report of the United States Magistrate Judge regarding the Receiver’s
Proposed Distribution Plan, and no objections thereto having been timely filed, this court is of the
opinion that the findings and conclusions of the Magistrate Judge are correct and adopts the
Magistrate Judge’s report as the findings and conclusions of the court.
Therefore, the Receiver’s Proposed Distribution Plan as set forth in Petition No. 3 in
4:13cv382 (Dkt. 44) and Petition No. 4 in 4:13cv383 (Dkt. 49) is hereby APPROVED. Further,
there being no opposition filed to the Petition to Make First Interim Distribution to Investors, the
court finds that Petition No. 10 in 4:13cv382 (Dkt. 84) and Petition No. 9 in 4:13cv383 (Dkt. 89)
are just and appropriate and should be GRANTED.
ACCORDINGLY, it is hereby ordered that the Receiver is authorized to make a pro rata
interim distribution of $3,085,398 of receivership assets recovered by the Receiver to the approved
investors in the amounts as shown on the Distribution Chart, Exhibit A attached to the Petitions (see
Dkts. 84-1 in 4:13cv382 & 89-1 in 4:13cv383). To the extent an investor with an approved claim
invested qualified funds with the Defendants, the Receiver may make the distribution to the
approved investor payable to the investor’s qualified fund.
IT IS SO ORDERED.

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SIGNED this the 7th day of March, 2014.

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_______________________________
RICHARD A. SCHELL
UNITED STATES DISTRICT JUDGE