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

Filing 714

ORDER granting Receiver's 712 Motion. The Receiver's Closing Declaration and accounting are approved. The fees and costs requested by the Receiver and Allen Matkins are approved and allowed. The Receiver is to remit the balance of fun ds in the receivership estate to the United States District Court. The Receiver is hereby discharged and released from his duties and obligations as the federal equity receiver in the above referenced matter. Signed by Judge James L. Robart. (LH)

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The Honorable James L. Robart
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UNITED STATES DISTRICT COURT

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WESTERN DISTRICT OF WASHINGTON

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SEATTLE DIVISION

11 SECURITIES AND EXCHANGE
COMMISSION,
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Plaintiff,
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v.
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PATH AMERICA, LLC; PATH AMERICA
15 SNOCO LLC; PATH AMERICA FARMER'S
MARKET, LP; PATH AMERICA KINGCO
16 LLC; PATH AMERICA TOWER, LP; PATH
TOWER SEATTLE, LP; POTALA TOWER
17 SEATTLE, LLC; and LOBSANG DARGEY,
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Case No. 2:15-cv-01350-JLR
[PROPOSED] ORDER APPROVING
RECEIVER MICHAEL A. GRASSMUECK'S
MOTION FOR: (1) APPROVAL OF
RECEIVER'S CLOSING DECLARATION
AND ACCOUNTING; (2) AUTHORITY TO
PAY ADMINISTRATIVE FEES AND REMIT
FUNDS TO THE UNITED STATES DISTRICT
COURT; AND (3) DISCHARGE OF
RECEIVER
NOTED ON MOTION CALENDAR
January 8, 2021

Defendants, and,

19 POTALA SHORELINE, LLC; POTALA
VILLAGE KIRKLAND, LLC; DARGEY
20 DEVELOPMENT, LLC; DARGEY
ENTERPRISES, LLC; and PATH OTHELLO,
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Relief Defendants.

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[PROPOSED] ORDER
This matter came before the Court on the request of Michael A. Grassmueck (the

26 "Receiver"), the court-appointed Receiver for Path America LLC; Path America SnoCo LLC; Path
27 America Farmer's Market, LP; Path America KingCo, LLC; Path America Tower, LP; Path Tower
28 Seattle, LP; Potala Tower Seattle, LLC; Potala Shoreline, LLC; Potala Village Kirkland, LLC;
ORDER APPROVING RECEIVER’S CLOSING
DECLARATION + ACCOUNTING; AUTHORITY TO PAY
ADMIN FEES, ETC. | CASE NO. 2:15-cv-1350-JLR

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1 Dargey Development, LLC; Dargey Enterprises, LLC; Path Farmer's Market, LLC; and Dargey
2 Holdings, LLC (collectively, "Receivership Entities"), for: (1) Approval of Receiver's Closing
3 Declaration and Accounting; (2) Authority to Pay Administrative Fees and Remit Funds to the
4 United States District Court; and (3) Discharge of Receiver ("Motion" (Dkt. # 712).). The Court,
5 after having considered the Motion, the Closing Declaration of Receiver Michael A Grassmueck
6 in Support of Motion for : (1) Approval of Receiver’s Final Accounting; (2) Authority to Pay
7 Administrative Expenses and Remit Funds to the District Court; and (3) Discharge of
8 Receiver,(“Closing Declaration”), filed concurrently in support thereof, any objections thereto,
9 and other pleadings filed in this action, and finding that the fees and costs were reasonable and
10 necessary, that notice was appropriate, and that the services provided by the Receiver were of
11 substantial benefit to the estate, hereby ORDERS, ADJUDGES AND DECREES as follows:
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1.

The Motion (Dkt. # 712) is granted.

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2.

The Receiver’s Closing Declaration and accounting are approved.

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3.

The fees and costs requested by the Receiver and Allen Matkins are approved and

15 allowed. The Receiver is authorized to pay from the receivership estate assets, the fees and costs
16 requested by the Receiver and Allen Matkins.
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4.

The Receiver is to remit the balance of funds in the receivership estate to the

18 United States District Court, to be applied to the restitution debt of Lobsang Dargey in Case No.
19 2:17-CR-00001, via check payable to “United States District Court Clerk”, with a reference to
20 “U.S. v. Dargey, Case No. 2:17-cr-00001” on the memo line on the face of the check. The check
21 shall be mailed or delivered to: U.S. District Court Clerk, Attn. Finance Clerk, 700 Stewart Street,
22 Lobby Level, Seattle, Washington 98101.
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5.

The Receiver is hereby discharged and released from his duties and obligations as

24 the federal equity receiver in the above referenced matter. As such, the Receiver is released from
25 any and all claims and liabilities associated with the receivership, the distribution of proceeds, the
26 receivership entities and the individual defendants named in this action.
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6.

Jurisdiction over all disputes, claims and causes of action arising out of or relating

28 to the Receiver or the receivership case is reserved in this Court.
ORDER APPROVING RECEIVER’S CLOSING
DECLARATION + ACCOUNTING; AUTHORITY TO PAY
ADMIN FEES, ETC. | CASE NO. 2:15-cv-1350-JLR

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The receivership is hereby closed.

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IT IS SO ORDERED.

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Dated this 14th day of January, 2021.
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A

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Hon. James L. Robart
Judge, United States District Court

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9 Presented By:
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s/ David R. Zaro
David R. Zaro, Esq. #124334 (CA)
(Pro Hac Vice Granted Oct 26, 2015)
Allen Matkins Leck Gamble
Mallory & Natsis LLP
865 S. Figueroa Street, Suite 2800
Los Angeles, CA 90017-2543
213.622.5555 P | 213.620.8816 F
Email:
[e-mail]
[e-mail]
Attorneys for Receiver
MICHAEL A. GRASSMUECK

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ORDER APPROVING RECEIVER’S CLOSING
DECLARATION + ACCOUNTING; AUTHORITY TO PAY
ADMIN FEES, ETC. | CASE NO. 2:15-cv-1350-JLR

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