Source: s3://data.kl3m.ai/documents/govinfo/USCOURTS/USCOURTS-caed-1_24-cv-01102/USCOURTS-caed-1_24-cv-01102-18/pdf.json

Nature of Suit Code: 190
Nature of Suit: Other Contract Actions
Cause of Action: 28:1332 Diversity-Breach of Contract

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Upon due consideration of the First Notice of Proposed Distribution Pursuant to Order 

Expanding Receivership and for Preliminary Injunction, Doc. 137 (the “Notice”), filed by Lance E. 

Miller, solely in his capacity as Court-appointed receiver (the “Receiver”), the Court hereby finds 

and concludes as follows:

A. On September 16, 2024, The Prudential Insurance Company of America and PGIM 

Real Estate Finance, LLC (together, the “Prudential”) filed a Complaint for Breach of Contract, 

Appointment of Receiver, Accounting and Specific Performance of Rents and Profits Clause; and 

Injunctive Relief, Doc. 1, initiating the above-captioned case, and on September 18, 2024, an Ex 

Parte Application Regarding Motion for Order Appointing Receiver and for Preliminary Injunction, 

Doc. 12;

B. On September 25, 2024, after notice and hearing, the Court entered the Agreed Order 

Appointing Receiver with Limited Authority, Doc. 51, which was later amended by the Order 

UNITED STATES DISTRICT COURT

EASTERN DISTRICT OF CALIFORNIA

THE PRUDENTIAL INSURANCE 

COMPANY OF AMERICA, et al.,

Plaintiffs,

v.

ACDF, LLC, et al.,

Defendants.

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No. 1:24-cv-01102-KES-SAB

ORDER AUTHORIZING RECEIVER TO 

DISTRIBUTE PROCEEDS

Case 1:24-cv-01102-KES-SAB Document 140 Filed 01/14/25 Page 1 of 3
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Amending Order Appointing Receiver with Limited Authority, Doc. 107, and on November 7, 2024, 

entered the Order Expanding Receivership and for Preliminary Injunction, Doc. 120 (the 

“Receivership Order”),

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appointing the Receiver as general receiver over the Receivership 

Property;

C. Section II of the Receivership Order authorizes the Receiver to collect and distribute 

certain Proceeds, subject to further Court order;

D. On December 31, 2024, the Receiver filed the Notice seeking entry of an Order 

pursuant to Section II of the Receivership Order authorizing him to make the proposed distributions 

set forth in the Notice and directing that any parties objecting to the proposed distribution, including 

those claiming an interest in such Proceeds, file a response with the Court within ten (10) days of 

the filing of the Notice.

E. Based on the Proof of Service attached to the Notice, notice regarding the Receiver’s 

intent to distribute proceeds was adequate and no other or further notice is necessary;

F. No Response was filed to the Notice with respect to the Distributions listed below and 

such Distributions are hereby deemed uncontested; and

G. Good cause exists to authorize the Receiver to make the Distributions set forth below, 

subject to disgorgement solely to the extent necessary to pay the claims of Administrative 

Claimants, including any indemnification obligations owing pursuant to paragraph 24 of the 

Receivership Order. 

Based on the foregoing it is hereby ORDERED THAT:

1. The distributions proposed in the Notice are approved as set forth herein;

2. The Receiver is hereby authorized to make the following distribution of Subject

Proceeds (the “Distributions”):

a. Distribution to Prudential Pursuant to Paragraph 18(a) of the Receivership 

Order: $13,652,229;

b. Distribution to U.S. Bank Pursuant to Paragraph 18(a) of the Receivership 

Order: $0.00;

1 All capitalized terms used but not defined herein shall have the meanings ascribed in the 

Receivership Order. 

Case 1:24-cv-01102-KES-SAB Document 140 Filed 01/14/25 Page 2 of 3
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c. Distribution to U.S. Bank Pursuant to Paragraph 18(b) of the Receivership 

Order: $9,074;

d. Distribution to U.S. Bank Pursuant to Paragraph 18(c) of the Receivership 

Order: $245,920; and

e. Distribution to U.S. Bank Pursuant to Paragraphs 16 and 18(e) of the 

Receivership Order: $3,160,307.

3. The Distributions authorized herein shall be considered indefeasible payments to the 

parties as set forth above, subject to disgorgement solely to the extent necessary to pay the claims 

of Administrative Claimants, including any indemnification obligations owing pursuant to 

paragraph 24 of the Receivership Order;

4. The relief granted herein is effective immediately upon entry of this Order.

IT IS SO ORDERED.

Dated: January 14, 2025 

 UNITED STATES DISTRICT JUDGE

Case 1:24-cv-01102-KES-SAB Document 140 Filed 01/14/25 Page 3 of 3