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UNITED STATES DISTRICT COURT

FOR THE SOUTHERN DISTRICT OF FLORIDA

CASE NO.: 20-CV-81205-RAR-REINHART

SECURITIES AND EXCHANGE 

COMMISSION,

 Plaintiff,

 v.

COMPLETE BUSINESS SOLUTIONS 

GROUP, INC. d/b/a PAR FUNDING, et al.

 Defendants.

______________________________________/

RECEIVER, RYAN K. STUMPHAUZER’S AND DEFENDANT 

LISA MCELHONE’S JOINT STATUS REPORT REGARDING 

DISCOVERY HEARING HELD ON MARCH 1, 2021

Ryan K. Stumphauzer, Esq., Court-Appointed Receiver (“Receiver”) of the Receivership 

Entities,

1 and Defendant Lisa McElhone (“McElhone”), by and through their respective 

1 The “Receivership Entities” are Complete Business Solutions Group, Inc. d/b/a Par Funding; Full 

Spectrum Processing, Inc.; ABetterFinancialPlan.com LLC d/b/a A Better Financial Plan; ABFP 

Management Company, LLC f/k/a Pillar Life Settlement Management Company, LLC; ABFP 

Income Fund, LLC; ABFP Income Fund 2, L.P.; United Fidelis Group Corp.; Fidelis Financial 

Planning LLC; Retirement Evolution Group, LLC; RE Income Fund LLC; RE Income Fund 2 

LLC; ABFP Income Fund 3, LLC; ABFP Income Fund 4, LLC; ABFP Income Fund 6, LLC; 

ABFP Income Fund Parallel LLC; ABFP Income Fund 2 Parallel; ABFP Income Fund 3 Parallel; 

ABFP Income Fund 4 Parallel; ABFP Income Fund 6 Parallel; ABFP Multi-Strategy Investment 

Fund LP; ABFP Multi-Strategy Investment Fund 2 LP; MK Corporate Debt Investment Company 

LLC; Capital Source 2000, Inc.; Fast Advance Funding LLC; Beta Abigail, LLC; New Field 

Ventures, LLC; Heritage Business Consulting, Inc.; Eagle Six Consultants, Inc.; 20 N. 3rd St. 

Ltd.; 118 Olive PA LLC; 135-137 N. 3rd St. LLC; 205 B Arch St Management LLC; 242 S. 21st 

St. LLC; 300 Market St. LLC; 627-629 E. Girard LLC; 715 Sansom St. LLC; 803 S. 4th St. LLC; 

861 N. 3rd St. LLC; 915-917 S. 11th LLC; 1250 N. 25th St. LLC; 1427 Melon St. LLC; 1530 

Christian St. LLC; 1635 East Passyunk LLC; 1932 Spruce St. LLC; 4633 Walnut St. LLC; 1223 

N. 25th St. LLC; Liberty Eighth Avenue LLC; The LME 2017 Family Trust; Blue Valley 

Holdings, LLC; LWP North LLC; and 500 Fairmount Avenue, LLC and the Receivership Estate 

also includes the properties located at 568 Ferndale Lane, Haverford PA 19041; 105 Rebecca 

Court, Paupack, PA 18451; and 107 Quayside Dr., Jupiter FL 33477.

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undersigned counsel, hereby file this Status Report regarding the discovery hearing conducted by 

United States Magistrate Judge Bruce E. Reinhart on March 1, 2021 (ECF No. 499) (the 

“Discovery Hearing”), and state:

1. The discovery dispute at issue during the Discovery Hearing involves the 

Receiver’s production of emails for seven (7) custodians. At the conclusion of the Discovery 

Hearing, the Court advised that it would be scheduling a continued hearing and instructed the 

parties to meet and confer regarding a proposed date and estimation of how much time the parties 

would require for the continued hearing. See ECF No. 499. The Court also encouraged the parties 

to continue to meet and confer in an effort to resolve the underlying discovery dispute.

2. On March 2 and 3, 2021, counsel for the Receiver and counsel for McElhone and 

Joseph LaForte engaged in a series of meet-and-confer conferences to discuss a potential resolution 

of the discovery dispute. The parties have made substantial progress in that regard, are committed 

to continuing these discussions, and will immediately advise the Court in the event of a resolution.

3. In the event the parties cannot resolve this issue without the Court’s intervention, 

the parties agree that a hearing of two (2) hours would be adequate to address the various issues 

the Court identified during the Discovery Hearing.

4. The Receiver proposes that the hearing be scheduled for any time between March 

15 and March 18, 2021 (i.e., after the evidentiary hearing scheduled for March 11, 2021, on the 

Receiver’s Motion for an Order Requiring Lisa McElhone and Joseph Cole Barleta to Show Cause 

Why They Should Not Be Held in Contempt (the “Contempt Hearing”)). See ECF No. 496, 

Paperless Order Setting Evidentiary Hearing. Attorney Michael Bachner, who will be appearing 

in this case on behalf of McElhone, has advised that he is not available on March 16, 2021 through 

March 18, 2021, due to a hearing he is scheduled to attend in another case, and has requested that 

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the continued hearing not be scheduled on those days. The Receiver can also be available during 

the week of March 22, 2021, or thereafter (subject to various conflicts due to hearings and 

conferences in other matters).

5. Ms. McElhone proposes that the hearing be scheduled as soon as possible, given 

Defendants’ need to obtain the emails for the purpose of preparing their defense in this case. Ms. 

McElhone disagrees that the continued hearing on this discovery dispute should be delayed until

after the Contempt Hearing, as the issues Magistrate Judge Reinhart advised would be heard are 

unrelated to the Contempt Hearing. Moreover, the Contempt Hearing relates only to Defendants 

McElhone and Joseph Cole Barleta, and the need for the discovery at issue in the Discovery 

Hearing affect all the defendants, who joined in Ms. McElhone’s and the Receiver’s Joint 

Discovery Memorandum. See ECF No. 497, n. 1. 

Dated: March 3, 2021 Respectfully Submitted, 

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STUMPHAUZER FOSLID SLOMAN 

ROSS & KOLAYA, PLLC

Two South Biscayne Blvd., Suite 1600 

Miami, FL 33131

Telephone: (305) 614-1400 

Facsimile: (305) 614-1425 

By: /s/ Timothy A. Kolaya

TIMOTHY A. KOLAYA 

Florida Bar No. 056140 

tkolaya@sfslaw.com 

Co-Counsel for Receiver 

PIETRAGALLO GORDON ALFANO 

BOSICK & RASPANTI, LLP

1818 Market Street, Suite 3402 Philadelphia, 

PA 19103 Telephone: (215) 320-6200 

Facsimile: (215) 981-0082 

By: /s/ Gaetan J. Alfano

GAETAN J. ALFANO 

Pennsylvania Bar No. 32971

(Admitted Pro Hac Vice) 

GJA@Pietragallo.com

DOUGLAS K. ROSENBLUM 

Pennsylvania Bar No. 90989 

(Admitted Pro Hac Vice) 

DKR@Pietragallo.com 

Co-Counsel for Receiver 

LAW OFFICES OF ALAN S. FUTERFAS

565 Fifth Ave., 7th Floor

New York, NY 10017

(212) 684-8400

By: /S/ Alan S. Futerfas 

Alan S. Futerfas

(Admitted Pro Hac Vice)

Asfuterfas@Futerfaslaw.Com

Attorney for Defendant Lisa McElhone

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CERTIFICATE OF SERVICE

I HEREBY CERTIFY that on March 3, 2021, 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 counsel of record via transmission of Notices of Electronic Filing generated by 

CM/ECF.

/s/ Timothy A. Kolaya

TIMOTHY A. KOLAYA

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