Source: s3://data.kl3m.ai/documents/govinfo/USCOURTS/USCOURTS-caed-1_16-cv-00344/USCOURTS-caed-1_16-cv-00344-41/pdf.json

Nature of Suit Code: 850
Nature of Suit: Securities, Commodities, Exchange
Cause of Action: 15:78m(a) Securities Exchange Act

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UNITED STATES DISTRICT COURT

EASTERN DISTRICT OF CALIFORNIA

SECURITIES AND EXCHANGE 

COMMISSION,

Plaintiff,

v.

BIC REAL ESTATE DEVELOPMENT, 

CORP., et al.,

Defendants.

Case No. 1:16-cv-00344-LJO-JLT

ORDER ON THIRD REPORT AND 

PETITION FOR FURTHER 

INSTRUCTIONS OF RECEIVER, 

DAVID P. STAPLETON

The Court has reviewed the Third Interim Report and Petition for Instructions 

(the "Interim Report") of the Court-appointed Receiver, David P. Stapleton (the 

"Receiver"), the permanent receiver for Defendant BIC Real Estate Development 

Corporation ("BIC") and its subsidiaries and affiliates, including but not limited to 

WM Petroleum; Target Oil & Gas Drilling, Inc.; Tier 1 Solar Power Company, Tier 

1 Solar Power Company, LLC; and Home Sweet Holdings (collectively, the 

"Receivership Entities" or "Entities").

Having considered the Interim Report, and the Receiver's recommendations 

as reflected therein, the Court ORDERS as follows:

1. The Receiver's Interim Report is accepted;

Case 1:16-cv-00344-DAD-JLT Document 161 Filed 01/26/17 Page 1 of 2
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1067157.01/LA -2

2. The Receiver's recommendations, as presented in the Interim Report,

are accepted and approved, and the Receiver is authorized to continue his 

administration of the Receivership Entities and their assets consistent with the 

Receiver's recommendations in the Interim Report and this Court's previous orders;

3. The revised, estimated budgets for the Receiver and his counsel of 

record, Allen Matkins Leck Gamble Mallory & Natsis LLP ("Allen Matkins"), for 

the period from the inception of the receivership through October 31, 2016, are 

approved; and

4. The estimated budgets for the Receiver and Allen Matkins for the 

period from November 1, 2016 through February 28, 2017 are approved, and the 

Receiver and Allen Matkins are authorized to incur the fees and costs identified 

therein.

IT IS SO ORDERED.

Dated: January 26, 2017 /s/ Lawrence J. O’Neill _____ 

UNITED STATES CHIEF DISTRICT JUDGE

Case 1:16-cv-00344-DAD-JLT Document 161 Filed 01/26/17 Page 2 of 2