Source: s3://data.kl3m.ai/documents/govinfo/USCOURTS/USCOURTS-cand-4_04-cv-04351/USCOURTS-cand-4_04-cv-04351-6/pdf.json

Nature of Suit Code: 890
Nature of Suit: Other Statutory Actions
Cause of Action: 15:631 Small Business Act

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C 04-4351 SBA - ORDER APPROVING THE PROCEDURES FOR WINDING UP AND 

TERMINATING THE RECEIVERSHIP 

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JOSEPH P. RUSSONIELLO, CA NO. 44332 

United States Attorney 

JOANN M. SWANSON, CA NO. 88143 

Chief, Civil Division 

EDWIN L. JOE, CA NO. 112328 

Special Assistant U.S. Attorney 

 455 Market Street, Sixth Floor 

 San Francisco, CA 94105 

 Telephone: (415) 744-8494 

 Facsimile: (415) 744-6812 

edwin.joe@sba.gov

Attorneys for Plaintiff 

UNITED STATES DISTRICT COURT 

NORTHERN DISTRICT OF CALIFORNIA 

OAKLAND DIVISION 

UNITED STATES OF AMERICA, ) E-Filing 

 ) 

 Plaintiff, ) Case No: C 04-4351 SBA 

 ) HON. SAUNDRA BROWN ARMSTRONG 

 ) 

v. ) Date: 

) Time: 

PROSPERO VENTURES, L.P. ) Room: Ctrm 3, 1301 Clay St., Oakland 

 ) 

 Defendant. ) 

______________________________) 

STIPULATED ORDER APPROVING THE PROCEDURES FOR WINDING UP AND 

TERMINATING THE RECEIVERSHIP

This matter comes before the Court on the Stipulation of the United States of America 

(“USA”) for its agency the U.S. Small Business Administration (“SBA”), Plaintiff, and the U.S. 

SBA in its capacity as Receiver (“Receiver”) for Prospero Ventures, L.P. (“Prospero”) (f/k/a 

Dotcom Ventures, L.P., f/k/a ASCII Ventures, L.P.), Defendant, for Entry of an Order 

Approving the Procedures for Winding Up and Terminating the Receivership, and this Court 

Case 4:04-cv-04351-SBA Document 62 Filed 07/21/10 Page 1 of 7
C 04-4351 SBA - ORDER APPROVING THE PROCEDURES FOR WINDING UP AND 

TERMINATING THE RECEIVERSHIP 

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being duly advised as to the merits, and there being no opposition, 

 THE COURT FINDS THAT: 

 (1) The relief proposed by the Plaintiff and Defendant in their Stipulation/Motion filed 

herein is reasonable, necessary and in the best interest of the Prospero Receivership Estate. 

 IT IS HEREBY ORDERED AND DECREED THAT: 

 1. The parties' Stipulation/Motion (1) to reopen this case and (2) for Entry of an Order 

Approving the Procedures for Winding Up and Terminating the Receivership are both 

GRANTED; and 

2. The Receiver’s agents will perform all final administrative and accounting tasks 

necessary to wind up and close the Prospero receivership estate in an orderly manner, and to 

discharge the Receiver and its agents. These tasks will include, but are not limited to, finalizing 

the receivership accounting books and records, arranging for the return of control of Prospero to 

its General Partner, Prospero Investments, LLC, remitting payments and/or assigning assets from 

the estate in accordance with this Court’s October 31, 2006 Order as funds permit, and delivering 

Prospero’s post-receivership records to the Federal Records Center. 

3. This Court approves and confirms the form and manner of the procedures for 

winding up and closing the Prospero receivership as set forth in the Motion filed by the Receiver. 

Within ninety (90) days of receipt of notification of the entry of this Wind-Up Order, the 

Receiver and its agents shall perform any and all final administrative and accounting tasks 

necessary to implement the provisions of this Wind-Up Order in order to windup and terminate 

the Prospero receivership and discharge the Receiver, its agents, attorneys, contractors, the SBA, 

and its employees, and all other persons who have acted on the Receiver’s behalf. 

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4. Any and all expenses associated with the windup and closing procedures shall be 

and are hereby chargeable and payable as administrative expenses of the Prospero receivership. 

The Receiver is hereby authorized to prepay monies to the Receiver's agents, accountants and 

others to facilitate the closing of the receivership after the Prospero receivership bank account is 

closed. Any funds not expended in the closing of the Prospero receivership shall be remitted to 

SBA, Prospero’s Preferred Limited Partner, in accordance with this Court’s October 31, 2006 

Order. 

5. In accordance with this Court’s October 31, 2006 Order, the Receiver is hereby 

ordered to transfer and/or assign all the remaining assets of Prospero, whether legal or equitable, 

acquired through stock purchases, mortgage, pledge, assignment, delivery or otherwise, whether 

real property, personal property or mixed to SBA, Prospero’s Preferred Limited Partner. The 

transfer and assignment documents to SBA will provide for the unconditional assignment, 

transfer and delivery of the assets to SBA, to the attention of Abraham A. Speight, Financial 

Analyst, Office of SBIC Liquidation, Investment Division, U.S. Small Business Administration, 

409 Third Street, S.W., Sixth Floor, and Washington, D.C. 20416. 

6. This Court hereby appoints and authorizes either Brian S. Stern, Principal Agent 

for the Receiver, or Abraham A. Speight, Financial Analyst, Office of SBIC Liquidation, or such 

other agent or employee as SBA in its sole discretion shall designate, to sign and execute on 

behalf of, and as agent for, the Receiver, any and all papers necessary to effect any 

 transfer(s) and assignment(s) to SBA as described in paragraph 5, above, and (ii) sign and 

execute on behalf of, and as agent for, any and all papers necessary to wind up and close the 

Prospero receivership. 

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C 04-4351 SBA - ORDER APPROVING THE PROCEDURES FOR WINDING UP AND 

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7. Within ninety (90) days after receiving notification of the entry of the Wind-Up 

Order by the Court, the Receiver shall transfer and deliver the accounting records of the Prospero 

receivership that may be necessary to enable Prospero to prepare and file any tax returns that 

may become due after the termination of the Prospero receivership, to Prospero’s General 

Partner, Prospero Investments, LLC. 

8. Any files not delivered to, or not accepted by, the general partner of Prospero 

shall be transferred to SBA and delivered to the Federal Record Center. SBA is authorized to 

dispose of these records and files six years from the date of entry of the proposed Order. In the 

event that Prospero’s general or limited partners wish to obtain copies of such documents, such 

partners are ordered to serve a written request upon SBA, to the attention of Abraham A. 

Speight, Financial Analyst, Office of SBIC Liquidation, Investment Division, U.S. Small 

Business Administration, 409 Third Street, S.W., Sixth Floor, Washington, D.C. 20416 within 

six years after the entry of the Wind-Up Order. 

9. The Receiver is hereby authorized and ordered to surrender Prospero’s SBIC 

license to the SBA, to the attention of Abraham A. Speight, Financial Analyst, Office of SBIC 

Liquidation, Investment Division, U.S. Small Business Administration, 409 Third Street, S.W., 

Sixth Floor, Washington, D.C. 20416, and the SBA is hereby authorized to revoke said license 

upon entry of this Wind-Up Order. 

10. Upon completion of the tasks set forth in this Wind-Up Order, the Receiver is 

hereby ordered to file a Final Receiver’s Report with this Court which Report shall confirm that 

the Receiver has completed the procedures enumerated in the Wind-Up Order for winding up 

and closing the Prospero receivership estate. The Receiver is further ordered to attach, as an 

exhibit to the Final Receiver’s Report, a Final Cash Receipts and Disbursements Summary from 

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the date of inception of the Prospero receivership, October 20, 2004, through the date of the 

closing of the Prospero receivership bank account. 

11. Control of Prospero will be unconditionally transferred and returned to Prospero’s 

General Partner, Prospero Investments, LLC, c/o Stephen Hyndman, Managing Member, 

Prospero Investments, LLC, 175 Lundys Lane, San Francisco, CA 94110-5128, his last known 

address. The transfer shall not be effective unless and until the Receiver has completed its duties 

under this Wind-Up Order, and unless and until this Court enters an Order discharging the 

Receiver. 

 12. The Receiver is hereby ordered to serve a copy of this Wind-Up Order 

upon the general and limited partners of Prospero c/o Stephen Hyndman, Managing Member, 

Prospero Investments, LLC, 175 Lundys Lane, San Francisco, CA 94110-5128, his last known 

address. 

 

 

 PURSUANT TO STIPULATION OF THE PARTIES, IT IS SO ORDERED: 

 This _21st___ day of _July 2010, in Oakland, California. 

 

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 ____________________________________ 

 HON. SAUNDRA BROWN ARMSTRONG 

 United States District Judge 

APPROVED AS TO FORM AND CONTENT: 

_____________________________ 

ARLENE P. MESSINGER 

Attorney for Defendant, SBA as Receiver for 

Prospero Ventures, LP 

_____________________________ 

EDWIN L. JOE 

Special Assistant U. S. Attorney 

Attorney for Plaintiff, United States of America 

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C 04-4351 SBA - ORDER APPROVING THE PROCEDURES FOR WINDING UP AND 

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Copies To: 

Edwin L. Joe, Esq. 

Special Assistant United States Attorney 

455 Market Street, Sixth Floor 

San Francisco, CA 094105 

Telephone: (415) 744-8494 

Facsimile: (415) 744-6812 

Arlene P. Messinger, Esq. 

Assistant General Counsel for SBIC Enforcement 

U.S. Small Business Administration 

Receiver for Prospero Ventures, L.P. 

409 Third Street, S.W., 7th Floor 

Washington, DC 20416 

Telephone: (202) 205-6857 

Facsimile: (202) 481-0325 

Brian S. Stern 

Principal Agent for the Receiver 

SBA, Receiver for Prospero Ventures, L.P. 

666 11th Street, N.W., Suite 200 

Washington, D.C. 20001-4542 

Telephone: (202) 272-3604 

Facsimile: (202) 504-2247 

stip windup order 

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