Opinion
No. 1:05-cv-1102-JDT-TAB.
March 27, 2006
ORDER MODIFYING RECEIVERSHIP ORDER
In conjunction with the court's contemporaneously-filed Entry Granting Motion to Enforce Stay Order and Denying Request to Show Cause in the case of Southern Michigan Bank Trust v. Guardian Services, LLC, 1:05-cv-1880-JDT-TAB, the Receivership Order issued on December 20, 2005 is hereby modified by adding additional language and prohibitions as follows.
Paragraph 11 shall now read:
(with added language underlined):
11 All investors, creditors, and other persons, and all others acting on behalf of any such investor, creditor or other persons, including sheriffs, marshals, other officers, deputies, servants, agents, employees and attorneys, are stayed from the following without first having obtained the permission of the Receiver:
a. Commencing, prosecuting, continuing or enforcing or executing any suit or proceeding against the entities in receivership, judgment or order obtained against the Receiver Defendants' property, except that such actions may be filed to toll any statute of limitations;
b. Using self-help or executing or issuing or causing the execution of issuance of any court attachment, subpoena, replevin, execution, or other process for the purpose of impounding of taking possession of or interfering with or creating or enforcing a lien upon any property owned by or in the possession of the Receiver Defendants, or the Receiver, wherever situated;
c. Attempting to modify, cancel, terminate, call, extinguish, revoke or accelerate (the due date), of any lease, loan, mortgage, indebtedness, security agreement or other agreement with the Receiver Defendants, or any entity controlled by them; and
d. Doing any act or thing whatsoever to interfere with the taking control, possession, or management, by the Receiver of the Receiver Defendants' property and assets owned, controlled, or in the possession of the Receiver, or to in any way interfere with or harass the Receiver, or to interfere in any manner with the exclusive jurisdiction of this Court over the Receiver Defendants' property, including communicating about the effect of the Receivership with investors, creditors and any other persons who may be indebted to assets, funds, accounts or other properties controlled by the Receiver, or who may claim to be entitled to assets, funds, accounts or other properties controlled by the Receiver.
ALL OF WHICH IS ORDERED.