Source: s3://data.kl3m.ai/documents/govinfo/USCOURTS/USCOURTS-cand-3_05-cv-01195/USCOURTS-cand-3_05-cv-01195-3/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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C05- 1195 EMC - Joint Case Management Statement and Proposed Order 1

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KEVIN V. RYAN (SBN 118321) 

United States Attorney 

JOANN M. SWANSON (SBN 88143) 

Chief, Civil Division 

EDWIN L. JOE (SBN 112328) 

Special Assistant United States Attorney 

455 Market Street, 6th Floor 

 San Francisco, California 94105-2420 

 Telephone: (415) 744-8494 

 Facsimile: (202) 481-1810 or (415) 744-6812 

 Email: edwin.joe@sba.gov 

Attorneys for the Receiver 

IN THE UNITED STATES DISTRICT COURT 

FOR THE NORTHERN DISTRICT OF CALIFORNIA 

SAN FRANCISCO DIVISION 

UNITED STATES OF AMERICA, ) E-filing 

 Plaintiff, ) 

 ) Civil Case No. C 05 – 1195 EMC 

 v. ) 

 ) 

MILEPOST VENTURES, L.P. ) JOINT CASE MANAGEMENT 

 ) STATEMENT AND 

 ) PROPOSED ORDER 

 ) 

 Defendant. ) Date: Sept. 6, 2006 

 ) Time: 1:30 PM 

__________________________________ ) Place: 15th Fl, 450 Golden Gate 

Ave, S.F.,CA 

 

 The parties to the above entitled action jointly submit this Case Management 

Statement and Proposed Order and request the Court adopt it as its Case Management 

Order in this case. 

// 

// 

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C05- 1195 EMC - Joint Case Management Statement and Proposed Order 2

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Description of the Case 

 1. Overview: Milepost Ventures, L.P (“Milepost”) was licensed by United States 

Small Business Administration (“SBA”) as a Small Business Investment Company 

(“SBIC”) under section 301 (c) of 15 U.S.C. §681(c). SBA determined the SBIC to be 

capital impaired in 2002, unable to cure the capital impairment by 2003, obtained the 

SBIC’s agreement to a Consent Order for Receivership and for SBA to be appointed 

Receiver by the court. 

2. Thereafter, since the court has jurisdiction over SBIC receiverships, SBA 

obtained court approval of the Consent Order for Receivership, and SBA was appointed 

Receiver on June 3, 2005. A Claim Bar Date Order was entered on February 14, 2006. 

Currently, there is approximately $16 million (principal) in outstanding Participating 

Securities purchased by SBA. 

3. Current Status: SBA as Receiver is currently preparing a report for the court 

regarding claims and assets. The Receiver has indicated no disputed claims are 

anticipated and will file a claims report soon. SBA will file an annual accounting with 

the court shortly in September or October 2006 for the period from June 2005 to June 

2006. There are no anticipated issues, factual or discovery disputes between the parties, 

since Milepost has fully cooperated with the Receiver. 

 4. Since a Consent Order of Receivership has been entered, no trial date is 

needed. However, overall court supervision is needed until the Receiver completes the 

accounting process, resolves any and all potential claims, completes liquidation of 

Milepost, and seeks case closure. 

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 5. Therefore, the parties suggest continuing or postponing the September 6, 2006, 

Case Management Conference for six months until approximately April 2007, when the 

Receiver will likely complete the liquidation of this Receivership and file an appropriate 

motion seeking case closure. 

Dated: August _18_, 2006 __/s/ Edwin L. Joe_______________

 Edwin L. Joe 

 Special Assistant United States Attorney 

Dated: August _17, 2006 _/s/ Christine Cordaro___ __________

 Christine B. Cordaro, General Partner to 

 Milepost Ventures Management, Inc. 

 General Partner of Milepost Ventures, L.P.

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C05- 1195 EMC - Joint Case Management Statement and Proposed Order 4

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CASE MANGEMENT ORDER 

This Case Management Statement and Proposed Order is hereby adopted by the 

Court as the Case Management Order for the case and the parties are ordered to comply 

with this Order. In addition the Court orders: 

1. The Case Management Conference for September 6, 2006 at 1:30 is hereby 

postponed until (date and time) _____________________. 

Dated:_________________ ______________________________________ 

 THE HONORABLE EDWARD M. CHEN 

 UNITED STATES MAGISTRATE JUDGE

Case 3:05-cv-01195-EMC Document 27-2 Filed 08/18/2006 Page 4 of 4

April 4, 2007 at 1:30 p.m. An updated Joint Case 

Management Conference Statement shall be 

filed by March 28, 2007. August 18, 2006

UNITED STATES DISTRICT COURT

NORTHERN DISTRICT OF CALIFORN

I

A

IT IS SO ORDERED

AS MODIFIED

Judge Edward M. Chen

Case 3:05-cv-01195-EMC Document 28 Filed 08/18/06 Page 4 of 4