Securities and Exchange Commission v. Path America, LLC et al

Filing 412

ORDER by Judge James L. Robart granting Receiver's 373 Motion for authority to proceed with business plan for Potala Marketplace. The Court authorizes Receiver to proceed with the Business Plan subject to further orders from this court regarding the financing of the project and engagement of The Carlin Company. (PM)

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UNITED STATES DISTRICT COURT
WESTERN DISTRICT OF WASHINGTON
AT SEATTLE

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SECURITIES AND EXCHANGE
COMMISSION,

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Plaintiff,
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v.
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CASE NO. C15-1350JLR
ORDER GRANTING
RECEIVER’S MOTION FOR
AUTHORITY TO PROCEED
WITH BUSINESS PLAN FOR
POTALA MARKETPLACE

PATH AMERICA, LLC, et al.,
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Defendants, and,
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POTALA SHORELINE, LLC, et al.,
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Relief Defendants.
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Before the court is Receiver Michael A. Grassmueck’s (“Receiver”) motion for
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authority to proceed with his business plan for Potala Marketplace. (Mot. (Dkt. # 373).)
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Receiver’s motion seeks authorization to proceed with work in accordance with the
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Business Plan for the Potala Marketplace dated July 1, 2016 (“Business Plan”). (See
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7/14/16 Grassmueck Decl. (Dkt # 374) ¶ 2, Ex. A (attaching Business Plan).) The court
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ORDER- 1

1 has reviewed the motion, all submissions of the parties related to the motion, other
2 relevant portions of the record, and the applicable law. In particular, the court notes that
3 Plaintiff Securities and Exchange Commission does not oppose the motion (SEC Resp.
4 (Dkt. # 381) at 1), and Defendant Losbang Dargey “joins the receiver” and requests that
5 the court grant the motion (Dargey Resp. (Dkt # 380) at 1, 8).
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Accordingly, the court GRANTS Receiver’s motion (Dkt. # 373) and

7 AUTHORIZES Receiver to proceed with the Business Plan subject to further orders from
8 this court regarding the financing of the project and engagement of The Carlin Company.
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Dated this 22nd day of August, 2016.

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A

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JAMES L. ROBART
United States District Judge

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ORDER- 2