Source: s3://data.kl3m.ai/documents/govinfo/USCOURTS/USCOURTS-cand-5_06-cv-04032/USCOURTS-cand-5_06-cv-04032-1/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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C06-04032 JW - 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 Plaintiff 

IN THE UNITED STATES DISTRICT COURT 

FOR THE NORTHERN DISTRICT OF CALIFORNIA 

SAN JOSE DIVISION 

UNITED STATES OF AMERICA, ) 

 Plaintiff, ) E-Filing 

 ) 

 v. ) Civil Case No. C06-04032 JW 

 ) 

ASPEN VENTURES III, L.P ) JOINT CASE MANAGEMENT 

 ) CONFERENCE STATEMENT 

 Defendant. ) 

) Date: Nov. 6, 2006 

 ) Time: 10:00 AM 

____________________________________) Room: Ctrm 8, 4th Floor 

 280 South 1st Street 

 San Jose, 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. 

// 

UNITED STATES DISTRICT COURT

NORTHERN DISTRICT OF CALIFORN

I

A

IT IS SO ORDERED

Judge James Ware

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Description of the Case

 1. Overview: ASPEN VENTURES III, L.P. (“Aspen III”) 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 in 2005 

the SBIC to be capital impaired, unable to cure the capital impairment, and placed in 

liquidation status. In 2006 SBA 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 October 4, 2006. Currently, there is approximately $41.8 million (principal) 

in outstanding Participating Securities purchased by SBA. 

3. Current Status: SBA as Receiver is currently marshalling assets and reviewing 

the financial records of Aspen III. SBA will file an annual accounting with the court 

approximately January 2008 for the period between October 4, 2006 and November 30, 

2007. There are no anticipated issues, factual or discovery disputes between the parties, 

since Aspen III has fully cooperated with the Receiver. 

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

needed. However, overall court supervision1

 post-judgment is needed until the Receiver 

 

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 Typically, SBIC Receivership cases take approximately 1-2 years to complete and 

the next anticipated motions will be to seek a claims bar date in approximately six 

months and court approval of the Receiver First Annual Report in approximately 1 year. 

The court for efficient court administration can sua sponte decide to (a) administratively 

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completes the accounting process, requests the court set a claims bar date for any other 

potential creditors/claimants, submits accounting reports, completes liquidation of Aspen 

III, and seeks case closure. 

 5. Therefore, the parties2

 respectfully suggest canceling the November 6, 2006, 

Case Management Conference and all future case management conferences. The 

Receiver expects to file its first annual accounting for this Receivership approximately 

January 2008. 

 UNITED STATES OF AMERICA 

Dated: _October 26, 2006 _/s/ Edwin L. Joe_______

 Edwin L. Joe 

 Special Assistant United States Attorney 

 U. S. SMALL BUSINESS ADMINISTRATION 

 AS RECEIVER FOR ASPEN VENTURES III, L.P. 

Dated: __________ by: ________________________________ 

Beverley Hazlewood Lewis 

 Trial Attorney 

// 

// 

 

close this case until such time that the Receiver requests to re-open this case to seek 

further appropriate court relief and (b) vacate all case management dates.

2

 By Order entered October 4, 2006, this Court appointed SBA as Receiver for the 

defendant (Aspen III) and conferred the powers of the general partner solely upon SBA 

as Receiver. Therefore, SBA, in its capacity as Receiver, is the only authorized 

representative for the defendant. Accordingly, this statement is being executed by SBA 

as Receiver for the defendant. 

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CASE MANAGEMENT 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 November 6, 2006 at 10:00 AM is 

hereby cancelled and no further case management dates are to be set. 

 2. The court also sua sponte orders this case administratively closed with the 

Receiver permitted to re-open the case at a later time to seek additional appropriate postjudgment court relief. 

Dated:_________________ ______________________________________ 

 HONORABLE JAMES WARE 

 UNITED STATES DISTRICT JUDGE

November 1, 2006

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