FEDERAL TRADE COMMISSION v. IVY CAPITAL, INC.

Full title: FEDERAL TRADE COMMISSION, Plaintiff, v. IVY CAPITAL, INC., etc., et al.…

Court: United States District Court, D. Nevada

Date published: Aug 17, 2011

CASE NO. 2:11-cv-00283-JCM-GWF (D. Nev. Aug. 17, 2011)

Opinion

CASE NO. 2:11-cv-00283-JCM-GWF.

August 17, 2011

RANDOLPH L. HOWARD (Nev. SBN 006688), KOLESAR LEATHAM, CHTD., Las Vegas, NV, GARY OWEN CARIS (CA SBN 088918), LESLEY ANNE HAWES (CA SBN 117101), MCKENNA LONG ALDRIDGE LLP, Los Angeles, CA, Attorneys for Permanent Receiver, ROBB EVANS ASSOCIATES LLC.

ORDER GRANTING MOTION FOR ORDER (1) APPROVING AND AUTHORIZING PAYMENT OF RECEIVER'S AND PROFESSIONALS' FEES AND EXPENSES FROM INCEPTION OF RECEIVERSHIP THROUGH MARCH 31, 2011; (2) AUTHORIZING RECEIVER TO LIQUIDATE UBS STOCK ACCOUNT; AND (3) GRANTING RELIEF FROM LOCAL RULE 66-5 PERTAINING TO NOTICE TO CREDITORS

JAMES MAHAN, District Judge

The matter of the Motion for Order (1) Approving and Authorizing Payment of Receiver's and Professionals' Fees and Expenses from Inception of Receivership Through March 31, 2011; (2) Authorizing Receiver to Liquidate UBS Stock Account; and (3) Granting Relief from Local Rule 66-5 Pertaining to Notice to Creditors ("Motion") filed by Robb Evans Associates LLC ("Receiver") as Receiver of Ivy Capital, Inc. and other related and affiliated entities pursuant to the Preliminary Injunction issued March 25, 2011 came on regularly before the Court, the Honorable James C. Mahan, United States District Judge presiding. The Court having reviewed and considered the Motion and all pleadings and papers filed in support thereof, and responses or opposition, if any, to the Motion, and good cause appearing therefor,

IT IS ORDERED that:

1. The Motion and all relief sought therein is granted in its entirety; and

2. Without limiting the generality of the foregoing:

A. Receivership fees and expenses incurred for the period from the inception of the receivership through March 31, 2011 ("Expense Period"), including the fees of the Receiver, the Receiver's deputies, agents, staff and professionals, and reimbursement of costs incurred during the Expense Period and the Receiver's legal fees and expenses incurred to the Receiver's lead counsel McKenna Long Aldridge LLP and the Receiver's local counsel in Nevada, Kolesar Leatham, Chtd., as more fully set forth in the Motion and supporting papers are approved and authorized to be paid from receivership assets;

B. The Receiver is authorized to liquidate the assets in UBS Financial Services Inc. account number ending 020 GV held in the name of Receivership Defendant Ivy Capital, Inc.; and

C. Notice of the Motion is deemed sufficient under Local Civil Rule 66-5 based on the service of the notice of the filing of the Motion and the Motion on all parties and service of the notice of the filing of the Motion on all known non-consumer creditors of the estate.