Securities and Exchange Commission v. BIC Real Estate Development Corporation et al, No. 1:2016cv00344 - Document 169 (E.D. Cal. 2017)
Court Description: MEMORANDUM DECISION and ORDER RE 164 Motion for Order Approving Settlement signed by Chief Judge Lawrence J. O'Neill on 3/4/2017. (Sant Agata, S)
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1 2 UNITED STATES DISTRICT COURT 3 FOR THE EASTERN DISTRICT OF CALIFORNIA 4 5 6 SECURITIES AND EXCHANGE COMMISSION, MEMORANDUM DECISION AND ORDER RE MOTION FOR ORDER APPROVING SETTLEMENT (Doc. 164) Plaintiff, 7 v. 8 9 1:16-CV-344-LJO-JLT BIC REAL ESTATE CORP., et al., Defendants. 10 11 12 On February 9, 2017, the Court-appointed Receiver filed a motion for an order approving a 13 settlement reached between him and Steel Holdings LLC, Brian Steele, and Nancy Steele (collectively, 14 the “Steeles”). Doc. 164-1. To date, the motion remains unopposed. The Court ORDERS that: 15 1. The Receiver’s motion is GRANTED in its entirety; and 16 2. The parties’ proposed settlement, as memorialized in the Settlement Agreement (Doc. 166-1), is APPROVED; 17 18 3. The Receiver and the Steeles are authorized to perform their respective obligations, as 19 defined in the Settlement Agreement, and to consummate the settlement as soon as 20 practicable; and 21 4. The hearing on the motion, currently set for March 9, 2017, is VACATED. 22 IT IS SO ORDERED. 23 Dated: /s/ Lawrence J. O’Neill _____ March 4, 2017 UNITED STATES CHIEF DISTRICT JUDGE 24 5. 25 1
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