Source: s3://data.kl3m.ai/documents/govinfo/USCOURTS/USCOURTS-cand-5_12-cv-02663/USCOURTS-cand-5_12-cv-02663-19/pdf.json

Nature of Suit Code: 850
Nature of Suit: Securities, Commodities, Exchange
Cause of Action: 15:77 Securities Fraud

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Case No.: 5:12-cv-02663-EJD

ORDER RE: RECEIVER’S MOTION FILED ON SEPTEMBER 29, 2015; SETTING CASE 

MANAGEMENT CONFERENCE

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United States District Court

Northern District of California

UNITED STATES DISTRICT COURT

NORTHERN DISTRICT OF CALIFORNIA

SAN JOSE DIVISION

SECURITIES AND EXCHANGE 

COMMISSION,

Plaintiff,

v.

GLR CAPITAL MANAGEMENT, LLC, et 

al.,

Defendants.

Case No. 5:12-cv-02663-EJD 

ORDER RE: RECEIVER’S MOTION 

FILED ON SEPTEMBER 29, 2015; 

ADVANCING CASE MANAGEMENT 

CONFERENCE

With regard to the Receiver’s motion for approval of several items of proposed relief filed 

on September 29, 2015 (Docket Item No. 236), the court orders as follows:

1. On or before October 30, 2015, the Receiver shall file a brief supplemental 

declaration which (1) explains in greater detail why the Receiver has concluded that “a new

agreement needs to be drafted that will serve to recapitulate and restate the terms of prior loans 

made by GLR to DDNi,” as well as why new Promissory Notes, a new Security Agreement, and a 

new UCC-1 Financing Statement need to be prepared and executed, and (2) provides an estimate 

of the number of hours that will need to be expended by proposed legal counsel in order to 

complete these tasks. 

2. The motion hearing currently scheduled for 9:00 a.m. on November 5, 2015, is 

reset to 10:00 a.m. on that same date. All parties, including the Receiver and the Securities and 

Exchange Commission (“SEC”), shall appear in person at the hearing. 

In addition, the court advances the Case Management Conference scheduled for November 

Case 5:12-cv-02663-EJD Document 239 Filed 10/21/15 Page 1 of 2
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Case No.: 5:12-cv-02663-EJD

ORDER RE: RECEIVER’S MOTION FILED ON SEPTEMBER 29, 2015; SETTING CASE 

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United States District Court

Northern District of California

19, 2015, to coincide with the motion hearing at 10:00 a.m. on November 5, 2015. On or before 

October 29, 2015, the SEC shall file a Case Management Conference Statement which, inter alia,

explains in detail its plan for final resolution of this case in conjunction with the case schedule the 

court imposed on August 3, 2015 (Docket Item No. 231). The court is particularly interested in

(1) why the SEC has not yet requested entry of default against GLR Capital Management, LLC 

and/or GLR Growth Fund, L.P., and (2) what steps the SEC will take to wind up the investment if 

its prevails on its anticipated motion for default judgment. 

IT IS SO ORDERED.

Dated: October 21, 2015

______________________________________

EDWARD J. DAVILA

United States District Judge

Case 5:12-cv-02663-EJD Document 239 Filed 10/21/15 Page 2 of 2