Source: s3://data.kl3m.ai/documents/govinfo/USCOURTS/USCOURTS-cand-3_16-cv-01386/USCOURTS-cand-3_16-cv-01386-16/pdf.json

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

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[PROPOSED] STIPULATION AND ORDER APPROVING EXTENSION OF TIME FOR RECEIVER TO 

FILE PROPOSED PLAN OF LIQUIDATION 

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JOHN W. COTTON (SBN 54912) 

Email: JCotton@gghslaw.com GARTENBERG GELFAND & HAYTON LLP 

15260 Ventura Blvd., Suite 1920 

Sherman Oaks, CA 91403 

(213) 542-2100 

(818) 292-0898 

Counsel to Receiver Sherwood 

Partners Inc. 

UNITED STATES DISTRICT COURT 

NORTHERN DISTRICT OF CALIFORNIA

SECURITIES AND EXCHANGE 

COMMISSION, 

 Plaintiff, 

 v. 

JOHN B. BIVONA; SADDLE RIVER 

ADVISERS, LLC; SRA 

MANAGEMENT ASSOCIATES, LLC; 

FRANK GREGORY MAZZOLA 

 Defendants.; and 

SRA I LLC; SRA II LLC; SRA III 

LLC; FELIX INVESTMENTS, LLC; 

MICHELE J. MAZZOLA; ANNE 

BIVONA; CLEAR SAILING GROUP 

IV LLC; CLEAR SAILING GROUP V 

LLC, 

 Relief Defendants

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Case No. 3:16-cv-1386

[PROPOSED] ORDER AND 

STIPULATION GRANTING 

THE RECEIVER’S REQUEST 

FOR AN EXTENSION OF 

TIME TO FILE A 

PROPOSED PLAN OF 

LIQUIDATION 

Date: No Date 

Time: No Time 

Judge: Edward M. Chen 

Case 3:16-cv-01386-EMC Document 164 Filed 01/03/17 Page 1 of 3
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[PROPOSED] STIPULATION AND ORDER APPROVING EXTENSION OF TIME FOR RECEIVER TO 

FILE PROPOSED PLAN OF LIQUIDATION 

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The parties, U.S. Securities & Exchange Commission, counsel for 

defendants Saddle River Advisers, LLC (“Saddle River”) and SRA 

Management Associates, LLC (“SRA Management”), and counsel for the 

Receiver hereby stipulate and agree to the entry of an order as follows: 

1.) The Receiver in this matter, Sherwood Partners Inc., has only 

recently been appointed and has not yet been able in the first two months of its 

appointment to satisfy itself that it is in possession of all material information 

about the activities of the receivership defendants and relief defendants, 

necessary to propose a focused and comprehensive plan of liquidation. 

2.) The Receiver has only recently fully secured the electronic records of 

the receivership defendants and relief defendants, and has not yet been able to 

thoroughly search and digest the information contained in those records, as 

well the hard copy records of the Receivership estate. The Receiver believes 

that it will require an additional ninety days beyond January 11, 2017, the 

current due date, to prepare and file a comprehensive, proposed plan of 

liquidation. 

3.) The, plaintiff U.S. Securities & Exchange Commission and counsel 

for defendants Saddle River and SRA Management, on being informed of the 

above by the Receiver’s counsel have stated that they do not object to 

amending the second sentence of Sec. XIII of this Court’s Order Appointing 

the Receiver (Docket No. 142) as follows: 

 XIII. Recommendations and Reports 

“Within one hundred and eighty (180) days of the entry date of 

this Order, the Receiver shall file the Liquidation Plan in the 

above-captioned action, with service copies to counsel of record. 

4.) Based on the parties’ agreement, the Court will amend the language 

of Sec. XIII as agreed in Paragraph 3 above and issue an amended Order 

concerning the filing of the plan of liquidation contained in Docket No. 142. 

Case 3:16-cv-01386-EMC Document 164 Filed 01/03/17 Page 2 of 3
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[PROPOSED] STIPULATION AND ORDER APPROVING EXTENSION OF TIME FOR RECEIVER TO 

FILE PROPOSED PLAN OF LIQUIDATION 

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SO STIPULATED. 

 

 Pursuant to Civil L.R. 5.1, I hereby attest that I have on file all 

holographic signatures corresponding to any signatures indicated by a 

conformed signature (/S/) within this e-filed document. 

DATED: December 28, 2016 GARTENBERG GELFAND HAYTON LLP 

 By: /s/ John W. Cotton 

 JOHN W. COTTON 

 Special Counsel to the Monitor 

DATED: December 28, 2016 SECURITIES & EXCHANGE COMMISSION 

 

By://s// By Permission (Civ. L.R. 5-1 (i) 

 JOHN YUN 

 Attorneys for Plaintiff 

DATED: December 28, 2016 DEFENDANTS SADDLE RIVER AND SRA 

MANAGEMENT 

 By://s// By Permission (Civ. L.R. 5-1 (i) 

 JAHAN P. RAISSI 

 SHARTSIS FRIESE LLP 

Attorneys for Defendants Saddle River and 

SRA Management 

IT IS SO ORDERED. 

DATED: December __, 2016 

 ________________________ 

Judge Edward M. Chen 

 United States District Court 

January 3, 2017

Counsel for receiver shall e-file a proposed amended 

order (as stated on p. 2, line 27) for the Court's 

 approval. 

U

NITED STATES DISTRICT COURT

NORTHERN DISTRICT OF CALIFORNIA

IT IS SO ORDERED

AS MODIFIED

Judge Edward M. Chen

Case 3:16-cv-01386-EMC Document 164 Filed 01/03/17 Page 3 of 3