Securities and Exchange Commission, Plaintiff-appellee, v. Ks Resources; John K. Judd, Jr.; Mid-west Production,inc.; Weststar Exploration, Inc.; Mark D. Seigel;alexander L. Kahan; Guardian Industries, Inc., Pathfinderminerals Group, Inc.; Alex Kahan Enterprises, Inc.,defendants-appellants, 110 F.3d 69 (9th Cir. 1997)

MEMORANDUM^** 

Appellants appeal the district court's interlocutory order appointing a permanent receiver in the Securities and Exchange Commission's action alleging violations of federal securities laws. We have jurisdiction pursuant to 28 U.S.C. § 1292(a) (2), and we affirm.

Appellants contend that the district court lacked jurisdiction to appoint a receiver in a civil enforcement action brought by the Securities and Exchange Commission. This contention lacks merit.

This court has "repeatedly approved imposition of a receivership in appropriate circumstances."¹  Securities & Exch. Comm'n v. Wencke, 622 F.2d 1363, 1369 (9th Cir. 1980). Moreover, contrary to appellants' argument, " [t]he power of a district court to impose a receivership ... does not in the first instance depend on a statutory grant of power from the securities laws. Rather, the authority derives from the inherent power of a court of equity to fashion effective relief." Id. We conclude that Central Bank of Denver v. First Interstate Bank of Denver, 511 U.S. 164 (1994), does not apply because it limits a right of action rather than a court's jurisdiction to order equitable relief.

Accordingly, we affirm the district court's interlocutory order appointing a permanent receiver.

AFFIRMED.