Source: s3://data.kl3m.ai/documents/govinfo/USCOURTS/USCOURTS-cand-3_07-cv-03996/USCOURTS-cand-3_07-cv-03996-0/pdf.json

Nature of Suit Code: 890
Nature of Suit: Other Statutory Actions
Cause of Action: 28:0157 Motion for Withdrawal of Reference

---

1 

2 

3 

4 

5 

6 

7 

8 

9 

10 

11 

12 

13 

14 

15 

16 

17 

18 

19 

20 

21 

22 

23 

24 

25 

26 

27 

28 

 ORDER AUTH. SALE OF PROP. FREE AND CLEAR OF 

YANG LIEN, No. C 06-06966 SI 

James D. Wood, St. Bar. No. 106936 

Attorney at Law 

3675 Mount Diablo Boulevard, Suite 250 

Lafayette, California 94549-3775 

Tel. (925) 284-9663 

Fax. (925) 283-9663 

E-mail: jdw@jdwoodlaw.com 

Attorney for Debtor Edward S. Ehee 

UNITED STATES DISTRICT COURT 

NORTHERN DISTRICT OF CALIFORNIA 

SAN FRANCISCO DIVISION 

SECURITIES AND EXCHANGE 

COMMISSION, 

 Plaintiff, 

 v. 

VIPER CAPITAL MANAGEMENT, LLC, 

et al., 

 Defendants, 

and 

COMPASS WEST FUND, et al., 

 Relief Defendants. 

In re: 

EDWARD SEWON EHEE, et al., 

Debtors. 

No. C 06-06966 SI, 06-7270 SI; 07-3995 SI, 

07-3996 SI, and 07-3997 SI 

(Formerly: U.S. Bk. Ct. N.D. Cal. Involuntary 

Chapter 7 Case Nos. 07-40126T, 07-40129T, 

07-40130T) 

ORDER BY DEFAULT GRANTING 

EDWARD EHEE’S MOTION FOR ORDER 

AUTHORIZING SALE OF PROPERTY 

FREE AND CLEAR OF YANG LIEN 

[No Hearing Scheduled] 

(Local Bankruptcy Rule 9014-1(b)(3)) 

The Court considered Debtor Edward Ehee's REQUEST FOR ORDER BY DEFAULT 

GRANTING EDWARD EHEE’S MOTION FOR ORDER AUTHORIZING SALE OF 

PROPERTY FREE AND CLEAR OF YANG LIEN dated November 28, 2007 (the “Default 

Case 3:07-cv-03996-SI Document 14 Filed 12/03/2007 Page 1 of 4 Case 3:07-cv-03996-SI Document 16 Filed 12/03/07 Page 1 of 4
1 

2 

3 

4 

5 

6 

7 

8 

9 

10 

11 

12 

13 

14 

15 

16 

17 

18 

19 

20 

21 

22 

23 

24 

25 

26 

27 

28 

 ORDER AUTH. SALE OF PROP. FREE AND CLEAR OF 

YANG LIEN, No. C 06-06966 SI 

-2- 

Request”), EHEE’S MOTION FOR ORDER AUTHORIZING SALE OF PROPERTY FREE 

AND CLEAR OF YANG LIEN dated November 6, 2007 (the "Motion"), related declarations, 

memoranda, and other supporting documents in chambers pursuant to Bankruptcy Local Rule 

(“B.L.R.”) 9014-1(b)(3) and (4). The Court assumed jurisdiction over the involuntary bankruptcy 

case now pending against Debtor Edward Sewon Ehee captioned above by Order dated June 22, 

2007 (entered June 27, 2007). 

GOOD CAUSE APPEARING, IT IS HEREBY ORDERED, ADJUDGED, AND 

DECREED THAT: 

1. The time period under B.L.R. 9014-1(b)(3) for filing any opposition and a request 

for hearing on the Motion having expired with no party having filed such opposition or request, 

the Default Request and Motion are granted as follows. 

2. Ehee is authorized to sell that certain real property commonly know as 6122 

Acacia Ave., Oakland, California under 11 U.S.C. Sect. 363. The sale shall be made substantially 

in accordance with the "Residential Purchase Agreement and Joint Escrow Instructions" attached 

to the declaration of Edward Ehee dated November 5, 2007 and filed in this action on 

November 6, 2007 with such extensions of closing deadlines as the parties may execute. The sale 

shall also be subject to the following: 

a. The purchase price shall be $1,200,000; 

b. Closing shall occur within 14 days of the entry of this Order unless both 

parties agree to an extension of such deadline; 

c. Normal and regular closing costs; except as noted below, all liens and 

encumbrances of record; and real estate commissions shall be paid from 

escrow; 

Case 3:07-cv-03996-SI Document 14 Filed 12/03/2007 Page 2 of 4 Case 3:07-cv-03996-SI Document 16 Filed 12/03/07 Page 2 of 4
1 

2 

3 

4 

5 

6 

7 

8 

9 

10 

11 

12 

13 

14 

15 

16 

17 

18 

19 

20 

21 

22 

23 

24 

25 

26 

27 

28 

 ORDER AUTH. SALE OF PROP. FREE AND CLEAR OF 

YANG LIEN, No. C 06-06966 SI 

-3- 

d. Proceeds of the sale net of such costs, commissions, and liens shall paid 

into the registry of this Court; 

e. Ehee shall comply with paragraph IV of the Preliminary Injunction issued 

by this Court (in Action No. C 06-06966 SI ) on November 22, 2006; 

f. Ehee is authorized to modify the terms of the sale or sell to a different 

buyer so long as the terms of such sale are not less favorable to the seller 

than those set-forth above and Ehee otherwise complies with paragraph IV 

of the Preliminary Injunction with respect to any such proposed 

modification or alternative buyer; and 

g. The sale shall be free and clear of the lien created and evidenced by that 

certain note and deed of trust dated October 27, 2007 in the face amount of 

$200,000 in favor of Joong M. Yang (Recorded October 30, 2006 in the 

Alameda County Official Records under Recorder's Serial Number 

2006404634) encumbering the property (the "Yang Lien") pursuant to 11 

U.S.C. Sect. 363(f)(3), or (f)(4). The Yang Lien shall attach to the 

proceeds of sale to be held in trust in the registry of this Court with the 

same force, effect, validity, and priority as such lien had with respect to the 

property sold pursuant to this Order pending further determinations of the 

Court regarding the effect, validity, amount, and priority of such lien. 

3. The Court waives the 10 day stay of this Order to the extent such stay is 

otherwise applicable under Fed.R.Bankr.P. 6004(g). 

Case 3:07-cv-03996-SI Document 14 Filed 12/03/2007 Page 3 of 4 Case 3:07-cv-03996-SI Document 16 Filed 12/03/07 Page 3 of 4
1 

2 

3 

4 

5 

6 

7 

8 

9 

10 

11 

12 

13 

14 

15 

16 

17 

18 

19 

20 

21 

22 

23 

24 

25 

26 

27 

28 

 ORDER AUTH. SALE OF PROP. FREE AND CLEAR OF 

YANG LIEN, No. C 06-06966 SI 

-4- 

4. The Court reserves jurisdiction over all issues relating to the interpretation, 

implementation and enforcement of this Order and disposition of the funds held in the Court's 

registry pursuant thereto. 

DATED: _________________ 

Proposed Form 11/28/07

________________________________ 

Susan Illston, United States District Judge 

Case 3:07-cv-03996-SI Document 14 Filed 12/03/2007 Page 4 of 4

12/3/07

Case 3:07-cv-03996-SI Document 16 Filed 12/03/07 Page 4 of 4