UNITED STATES DISTRICT COURT 

SOUTHERN DISTRICT OF FLORIDA 

CASE NO. 20-CIV-21964-CMA 

SECURITIES AND EXCHANGE COMMISSION, 

 

 Plaintiff, 

v. 

TCA FUND MANAGEMENT GROUP CORP., 

et al., 

 Defendants. 

_________________________________________/ 

RECEIVER’S STATUS REPORT PURSUANT TO THIS COURT’S JUNE 14, 2022

ORDER [E.C.F. 267]

 Jonathan E. Perlman, Esq. 

 Florida Bar No. 773328 

 jperlman@gjb-law.com 

Receiver for the Receivership Entities 

 

 -andGENOVESE JOBLOVE & BATTISTA, P.A. 

100 Southeast 2nd Street, 44th Floor 

 Miami, FL 33131 

 Tel: (305) 349-2300 

Gregory M. Garno, Esq. 

Florida Bar No. 87505 

ggarno@gjb-law.com 

Jean-Pierre Bado, Esq. 

 Florida Bar No. 123486 

 jbado@gjb-law.com 

Attorneys for Jonathan E. Perlman, Esq., 

 Receiver for the Receivership Entities 

 

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CASE NO. 20-CIV-21964-CMA 

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Jonathan E. Perlman, as court-appointed Receiver (the “Receiver”) over the Receivership 

Defendants TCA Fund Management Group Corp. (“FMGC”) and TCA Global Credit Fund GP, 

Ltd. (“GP”) (FMGC and GP are hereinafter referred to collectively as “Defendants”) and Relief 

Defendants TCA Global Credit Fund, LP (“Feeder Fund LP”), TCA Global Credit Fund, Ltd. 

(“Feeder Fund Ltd.,” and with Feeder Fund LP, “Feeder Funds”), TCA Global Credit Master Fund, 

LP (the “Master Fund”) (Master Fund, together with Feeder Funds, are the “Funds”), and TCA 

Global Lending Corp. (“Global Lending”) (Defendants, the Funds, and Global Lending are 

hereinafter referred to collectively as the “Receivership Entities”), by and through undersigned 

counsel and pursuant to this Court’s order appointing the Receiver [ECF No. 5], respectfully 

submits this interim Status Report (the “Report”) pursuant to this Court’s Order dated June 14, 

2022. 

1. On June 14, 2022, this Court entered an order setting a hearing on July 11, 2022. 

Among other things, the order declared that the Court would allow “Clearstream, Credit Suisse, 

and the Receiver to present evidence and call witnesses with respect to factual disputes, if any 

remain” at this hearing. 

2. The Court also ordered that “Clearstream and Credit Suisse shall submit notices by 

June 21, 2022 advising whether: (A) the Receiver’s decision to make investors’ subordinated status 

curable on a case-by-case basis has resolved their objections; and (B) if not, whether there is any 

factual dispute as to the sufficiency of the information the institutions have provided the Receiver.” 

3. On June 20, 2022, counsel for the Receiver, Clearstream and Credit Suisse held a 

conference call to discuss the Court’s order. 

4. During the conference call, the Receiver, Clearstream and Credit Suisse agreed as 

follows: 

a. The Receiver agrees to modify the Rising Tide Plan to the extent that ultimate 

beneficial owners of investments in the TCA Receivership Entities whose 

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CASE NO. 20-CIV-21964-CMA 

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claims remain subordinated may petition the Court directly to seek 

unsubordinated status through and until December 31, 2022. 

b. The Receiver, Clearstream and Credit Suisse agree that there is no ripe factual 

dispute amongst them at this time. 

c. The Receiver, Clearstream and Credit Suisse continue to hold talks and reserve 

their rights to make legal arguments at the July 11, 2022 hearing but agree that 

they do not require an opportunity to present evidence at this time. 

d. The Receiver, Clearstream and Credit Suisse will confer in good faith to clarify 

what additional information is required to cure the status of ultimate beneficial 

owners whose claims are currently subordinated or whose status has not yet 

been addressed. 

5. Counsel for Clearstream and Credit Suisse have reviewed this Status Report prior 

to its filing and notified Receiver’s counsel that they are in agreement hereto. 

Respectfully submitted, 

 Jonathan E. Perlman, Esq. 

 Florida Bar No. 773328 

 jperlman@gjb-law.com 

Receiver for the Receivership Entities 

 -andGENOVESE JOBLOVE & BATTISTA, P.A. 

100 S.E. Second Street, 44th Floor 

Miami, Florida 33131 

Telephone: (305) 349-2300 

By: s/Jean-Pierre Bado 

Jean-Pierre Bado, FBN 123486 

 jbado@gjb-law.com 

Gregory M. Garno, FBN 87505 

ggarno@gjb-law.com 

 Attorneys for Jonathan E. Perlman, Esq., 

 Receiver for the Receivership Entities

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CASE NO. 20-CIV-21964-CMA 

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CERTIFICATE OF SERVICE 

 I hereby certify that on June 21, 2022, I electronically filed the foregoing document with 

the Clerk of the Court using CM/ECF. I also certify that the foregoing document is being served 

this day on all counsel of record or pro se parties identified via transmission or Notices of 

Electronic Filing generated by CM/ECF or in some other authorized manner for those counsel or 

parties who are not authorized to receive electronically Notices of Electronic Filing. 

 /s/ Jean-Pierre Bado 

Attorney 

 

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CASE NO. 20-CIV-21964-CMA 

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SERVICE LIST 

Securities and Exchange Commission v. TCA Fund Management Group Corp., et al. 

Case No. 20-Civ-21964-CMA 

Jean-Pierre Bado, Esq 

jbado@gjb-law.com

Paul Joseph Battista, Esq. 

pbattista@gjb-law.com

Michael A Friedman, Esq. 

mfriedman@gjb-law.com

Gregory M. Garno, Esq. 

ggarno@gjb-law.com 

John H. Genovese, Esq. 

jgenovese@gjb-law.com

Brett M. Halsey, Esq. 

bhalsey@gjb-law.com

Heather L. Harmon, Esq. 

hharmon@gjb-law.com 

Eric Jacobs, Esq. 

ejacobs@gjb-law.com

Elizabeth G. McIntosh, Esq. 

emcintosh@gjb-law.com

Jonathan Perlman, Esq. 

jperlman@gjb-law.com

Genovese Joblove & Battista, P.A. 

100 Southeast 2nd Street, Suite 4400 

Miami, Florida 33131 

Attorneys for Jonathan E. Perlman, 

Receiver 

Andrew O. Schiff, Esq. 

schiffa@sec.gov 

Stephanie N. Moot, Esq. 

moots@sec.gov 

801 Brickell Avenue, Suite 1950 

Miami, Florida 33131 

Attorneys for Plaintiff Securities and 

Exchange Commission 

James J. Webb, Esq. 

jwebb@mitrani.com 

Mitrani, Rynor, Adamsky & Toland, P.A. 

1200 Weston Road, PH 

Weston, FL 33326 

Attorneys for Interested Parties Krystal 

Lazares-Scaretta, Robert A. Scaretta and 

American Gold Rush, LLC 

Andrew Fulton , IV, Esq. 

andrew@kelleylawoffice.com

Brian S. Dervishi, Esq. 

bdervishi@wdpalaw.com

Craig Vincent Rasile 

crasile@mwe.com

 

Gerald Edward Greenberg, Esq. 

ggreenberg@gsgpa.com

 

Gregg Alan Steinman 

gsteinman@sflp.law

Mark David Bloom, Esq. 

mark.bloom@bakermckenzie.com

Martha Rosa Mora, Esq. 

mmora@arhmf.com

Michael David Heidt, Esq. 

mheidt@aol.com

Joshua Dorchak, Esq. 

joshua.dorchak@morganlewis.com 

Javier Roldan Cora, Esq. 

javier.roldancora@morganlewis.com 

Jason M. Hall, Esq. 

jhall@cahill.com

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