Source: s3://data.kl3m.ai/documents/govinfo/USCOURTS/USCOURTS-cand-4_04-cv-04351/USCOURTS-cand-4_04-cv-04351-1/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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C 04-4351 SBA - ORDER APPROVING THE RECEIVER’S NOTICE AND 

DETERMINATION OF CLAIMS 

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KEVIN V. RYAN, CA NO. 118321 

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: Oct. 31, 2006 

) Time: 1:00 PM 

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

 ) 

 Defendant. ) 

______________________________) 

ORDER APPROVING THE RECEIVER’S NOTICE AND 

DETERMINATION OF CLAIMS

This matter comes before the Court on the Motion of the U.S. Small Business 

Administration (“SBA”) as Receiver (“Receiver”) for Prospero Ventures, L.P. (“Prospero”) 

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

Receiver’s Notice and Determination of Claims, Memorandum in Support of Motion, and 

Receiver’s Notice and Determination of Claims Received in Response to the Claims Bar Date. 

After reviewing the pleadings, and this Court being duly advised as to the merits, 

Case 4:04-cv-04351-SBA Document 28 Filed 10/31/06 Page 1 of 4
C 04-4351 SBA - ORDER APPROVING THE RECEIVER’S NOTICE AND 

DETERMINATION OF CLAIMS 

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 IT IS HEREBY ORDERED THAT: 

 1. The Receiver's Motions (1) to reopen this case and (2) to consider entry of an Order 

Approving the Receiver’s Notice and Determination of Claims are both GRANTED; and 

 2. The Receiver's Notice and Determination of Claims Received in Response to the 

Claims Bar Date, and of Prospero’s debt due to the SBA, and the Receiver's recommendations 

therein are APPROVED; and 

 3. The withdrawal of the claim filed by the Krishnan Shah Family Limited 

Partnership, LP (“Shah”) is APPROVED; and 

4. The Receiver is authorized to pay the following claims in the following order of 

priority, to the extent of available receivership assets, and the following claims are hereby 

APPROVED: 

 a) First, any and all administrative expenses of the receivership estate as they 

are presented and become due; 

 b) Second, any outstanding Receiver’s Certificates, should the Receiver 

make such borrowings from the SBA in the future, plus accrued interest; 

 c) Third, the general unsecured claim filed by Cooley Godward LLP 

(“Cooley”) in the amount of $42,959.22, and the general unsecured claim filed by Pepper 

Hamilton LLP (“Pepper”) in the amount of $11,890.35; 

 d) Fourth, the general unsecured debt of Prospero to the U.S. Small Business 

Administration (“SBA”), in the principal amount of $8,984,885, which is the total principal 

amount of the 15 Participating Securities purchased by SBA from Prospero; 

 e) Fifth, to the Limited Partners of Prospero in accordance with the 

provisions contained in the Amended and Restated Limited Partnership Agreement dated 

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C 04-4351 SBA - ORDER APPROVING THE RECEIVER’S NOTICE AND 

DETERMINATION OF CLAIMS 

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September 10, 1999, as amended, provided that the Limited Partner has paid or satisfied its 

capital commitment to Prospero in full; and 

5. The Receiver is authorized to make immediate payment in the amount of 

$42,959.22 to Cooley in full satisfaction of its claim, and in the amount of $11,890.35 to Pepper 

in full satisfaction of its claim, and may make partial payments from receivership funds to the 

SBA in partial repayment of the total principal of $8,984,885 of its 15 Participating Securities, in 

such amounts and at such times as the Receiver deems appropriate, without further prior order of 

this Court; and 

 6. All persons who failed to file claims pursuant to the terms of the Court's Order 

entered February 8, 2006 establishing the Claims Bar Date, shall be forever barred and shall be 

permanently enjoined from asserting, pursuing or prosecuting any pre-receivership claim (i.e., 

arising before October 20, 2004) against Prospero, the Receiver, their successors or assigns, or 

against assets or funds in the possession of the Receiver. 

 7. In accordance with the Court Order granting the Receiver’s Motion to Reopen this 

case and to consider entry of an Order Approving and Confirming the Receiver’s Notice and 

Determination of Claims received in response to the Claims Bar Date, this case is now 

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administratively closed. The Receiver may move to re-open the case for appropriate postjudgment relief at a later time. The Clerk shall close the file and terminate any pending matters. 

 

 SO ORDERED: This 31st day of October, 2006, in Oakland, California. 

 

 ____________________________________ 

 HON. SAUNDRA BROWN ARMSTRONG 

 United States District Judge 

Copies To: 

Edwin L. Joe 

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 

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 

Case 4:04-cv-04351-SBA Document 28 Filed 10/31/06 Page 4 of 4