Case 2:09-cv-01749-GBD Document 991 Filed 09/19/22 Page 1 of 7

UNITED STATES DISTRICT COURT 

SOUTHERN DISTRICT OF NEW YORK 

COMMODITY FUTURES TRADING 

COMMISSION, 

Plaintiff, 

-againstSTEPHEN WALSH, PAUL GREENWOOD, 

WESTRIDGE CAP IT AL MANAGEMENT, INC., 

WG TRADING INVESTORS, LP, WGIA, LLC, 

Defendants, 

WESTRIDGE CAP IT AL MANAGEMENT 

ENHANCEMENT FUNDS INC., WG TRADING 

COMPANY LP, WGI LLC, K&L INVESTMENTS, 

AND JANET WALSH, 

Relief Defendants. 

SECURITIES AND EXCHANGE COMMISSION, 

Plaintiff, 

-againstWG TRADING INVESTORS, L.P., WG TRADING 

COMPANY LIMITED PARTNERSHIP, 

WESTRIDGE CAPITAL MANAGEMENT, INC., 

PAUL GREENWOOD, and STEPHEN WALSH 

Defendants, 

ROBIN GREENWOOD and JANET WALSH 

Relief Defendants. 

Civil Action No.: 09-CV-1749 (GBD) 

Civil Action No.: 09-CV-1750 (GBD) 

ORDER APPROVING (1) THE RECEIVER'S FINAL ACCOUNT AND REPORT, 

INCLUDING THE RECEIVER'S FINAL REQUEST FOR ALLOWANCE OF 

COMPENSATION AND REIMBURSEMENT OF EXPENSES, (2) DISCHARGING THE 

RECEIVER, AND (3) APPROVING THE RECEIVER'S REQUEST TO DEPOSIT THE 

REMAINING RECEIVERSHIP FUNDS WITH THE COURT 

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WHEREAS, on February 25, 2009, the Securities and Exchange Commission filed a 

complaint alleging that Defendants WG Trading Investors, L.P., WG Trading Company Limited 

Partnership, Westridge Capital Management, Inc., Paul Greenwood, and Stephen Walsh had 

violated the federal securities laws by engaging in a fraudulent scheme to defraud investors 

("SEC Action"); 

WHEREAS, on February 25, 2009, the Commodity Futures Trading Commission filed a 

complaint alleging that Stephen Walsh, Paul Greenwood, Westridge Capital Management, Inc., 

WG Trading Investors, LP, WGIA, LLC and Relief Defendants Westridge Capital Management 

Enhancement funds Inc., WG Trading Company LP, WGI LLC, and K&L Investments violated 

various provisions of the Commodity Exchange Act (''CFTC Action"); 

WHEREAS, by Order dated February 25, 2009 in the SEC Action, the Receiver was 

appointed to act as the receiver over WG Trading Investors, L.P. ("WGTI"), WG Trading 

Company, Limited Partnership ("WGTC"), and Westridge Capital Management, Inc. 

("Westridge Capital"). The Receiver was made permanent receiver in the SEC Action by an 

Order of Preliminary Injunction entered on May 22, 2009. 

WHEREAS, by Order dated February 25, 2009 in the CFTC Action, the Receiver was 

also appointed as the receiver over the assets of W GTI, W estridge Capital, Paul Greenwood 

(''Greenwood"), Stephen Walsh ("Walsh"), WGIA, LLC, WGTC, Westridge Capital 

Management Enhancement Fund, Inc., WGI, LLC, K&L Investments, and Janet Walsh. The 

Receiver was made pennanent receiver in the CFTC Action pursuant to an Order of Preliminary 

Injunction entered on May 22, 2009; 

WHEREAS, by the SEC and/or CFTC Orders, the Court granted the Receiver the 

authority to take possession and control of the assets and property of the Defendants (including 

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the authority to pay necessary business expenses); to engage persons to assist it in fulfilling its 

duties; and to develop a preliminary plan for the administration of the assets of the Receivership; 

WHEREAS, the Receiver has complied with its duties and responsibilities under the 

tenns of the various Orders in these matters under which it was appointed as the Receiver, 

including, but not limited to, ultimately distributing to the defrauded investors 100% of their 

allowed investor claims, and as a result thereof, the Receiver has filed its Motion to Approve the 

Final Account and Report and Obtain Its Discharge; 

WHEREAS, between January 1, 2020 and December 31, 2021, the Receiver and its 

counsel incurred fees and costs in the following amounts, in order to fulfill the obligations 

arising from the Court's Orders: (l) $28,124.10 for the Receiver's services and $35,439.86 to 

reimburse the Receiver for its out-of-pocket expenses; (2) $38,506.00 for the legal services of 

Frandzel and $1,998.84 to reimburse Frandzel for its out-of-pocket expenses; and (3) $1,732.50 

for legal services of Barnes & Thornburg LLP; 

WHEREAS, the Receiver estimates that the expenses that it will incur in wrapping up the 

Receivership Estate will be not more than $169,752.90, which includes the payment of the 

Receiver's professionals fees and expenses; 

WHEREAS, the Receiver desires to deposit with the Court all excess funds held in the 

Receivership Estate, estimated at approximately $5,528,419.82 (the "Excess Funds"); and 

IT IS ORDERED, ADJUDGED AND DECREED that: 

( 1) The Receiver has complied with the Orders of the Court appointing the Receiver 

(the "Receivership Orders") and has satisfactorily completed all of its duties 

except as such matters as will be concluded after the entry of an Order approving 

this Motion; 

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(2) The Receiver's Final Account and Report (the "Final Report") and the Receiver's 

actions described therein are approved; 

(3) The final fees and expenses of the Receiver, Frandzel and Barnes are in total 

hereby deemed reasonable, appropriate and are hereby approved, and the Receiver 

is authorized to pay such fees and expenses within 10 days from the entry of this 

Order. In addition, the Court's prior approvals of all applications for allowance of 

compensation and reimbursement of expenses by the Receiver and its 

professionals, are hereby confinned. The Receiver is also authorized to pay 

professionals and the Receiver the fees and expenses which it incurs in wrapping 

up the Receivership Estate, in an amount not to exceed in total the sum of 

$169,752.90 without further Order of the Com1, and to thereafter deposit the 

Excess Funds with the Court; 

( 4) The Receiver and professionals are authorized, at the expense of the Receivership 

Estate, to abandon and/or destroy any and all business records relating to the 

Receivership, or to this Action, in its possession, custody or control, if not 

claimed by a party entitled thereto, in writing, within thirty (30) days after entry 

of this Order. Any party claiming such records must pay all costs of taking 

possession and delivery of such records. If conflicting claims are made to such 

records within said thirty (30) days, the Receiver will hold the records as to 

which such conflicting claims have been made until the claims are resolved by the 

Court and shall dispose of such records as directed by the Court; 

(5) The Receivership is terminated and the acts of the Receiver described in all of the 

Receiver's reports and applications filed in this Action, including the Final 

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Report, are approved. The Receiver is discharged from the Receiver's special 

duties and divested of the Receivership property, and the Receiver and its 

accountants, attorneys, employees and agents (including the Receiver's 

consultants, managers, professionals and all others retained by the Receivership 

Estate) and each of them, are fully exonerated from all liability as provided by 

law with respect to any of the defendants in this matter, the parties herein, and all 

third-party claimants. All persons and entities who seek to commence or 

prosecute and action or proceeding against the Receivership Estate, the Receiver 

and/or the Receiver's agents, including the Receiver's accountants, attorneys and 

employees, are ordered to bring and prosecute said Action in this Court; 

(6) The Receiver shall not be liable in any manner for any outstanding obligation 

debts and debts of the Receivership Estate, known or unknown, and the Receiver 

shall not be liable to any person or entity, including the taxing authorities; 

(7) All agreements entered into by the Receiver on behalf of the Receivership Estate 

are confirmed, and those agreements that have not been formally te1minated are 

hereby tenninated; 

(8) The Court reserves jurisdiction over any claim or claims, including, but not 

limited to, acting arising out of or related to any contract that may be asserted 

against the Receiver and its accountants, attorneys, employees and agents 

(including the Receiver's consultants, brokers, managers, professional and all 

others retained by the Receivership Estate) for their respective services herein and 

all issues that were a part of the subject matter of the Receivership and this Order, 

all that have arisen or may arise therefrom. The Court reserves exclusive 

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jurisdiction, and the Receiver shall retain the right to seek instructions from the 

Court, with regard to any subpoena, document request or other service of process 

received by the Receiver at any time that such documents or information related 

to the actions of the Receiver undertaken in this Action; 

(9) No individual or entity may take any action against the Receiver, or its agents or 

attorneys, including, but not limited to, the commencement of an action arising 

out of or related to any contract, without first obtaining the permission of this 

Court; 

(10) The Receiver and its agents arc fully exonerated from all claims and liabilities 

relating to acts taken during the Receivership as authorized by the Court; 

(11) The Receiver is hereby directed within 30 days after the entry of this Order to 

deposit with the Clerk of the Court the Excess Funds to be invested by the Clerk 

of the Court, and the Clerk is hereby directed to invest such funds in an interestbearing account or other instrument in the Clerk's discretion and judgment; 

( 12) The Clerk is hereby directed to deduct from the income on the investment a fee 

consistent with that authorized by the Judicial Conference of the United States 

and set by the Director of the Administrative Officer; 

(13) The Receiver is hereby authorized to abandon any and all claims which it may 

hold in connection with the "Sweetwater Litigation", and if possible, to assign to 

Sweetwater PPl, LLC, and Sweetwater POR, LLC, without recourse and any 

watTanties, any such claims held by the Receiver, and 

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(14) Notice of the Receiver's Motion was properly given. 

SO ORDERED 

Dated: 5EP 1 9 2022 

New York, New York 

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