UNITED STATES DISTRICT COURT

EASTERN DISTRICT OF MICHIGAN

SOUTHERN DIVISION

UNITED STATES SECURITIES AND

EXCHANGE COMMISSION,

Case No. 09-12950

Plaintiff, Honorable David M. Lawson

v.

JOHN J. BRAVATA, RICHARD J. 

TRABULSY, ANTONIO M. BRAVATA,

BBC EQUITIES, LLC, BRAVATA 

FINANCIAL GROUP, LLC, and SHARI A. 

BRAVATA,

Defendants.

___________________________________________/

ORDER GRANTING THE RECEIVER’S MOTION TO ABANDON THE

HUNTINGTON PROPERTY IN ASHLAND, OHIO AND AMENDING THE

TEMPORARY RESTRAINING ORDER, THE PRELIMINARY INJUNCTION ORDER

AND THE ORDER APPOINTING RECEIVER TO EXCLUDE THE HUNTINGTON

PROPERTY IN ASHLAND, OHIO

On December 4, 2009, the Receiver filed a motion to abandon certain real properties

mortgaged to Huntington National Bank (Huntington). One of such properties is the property

referred to as the “Huntington Property” located at Amberwood, Ashland, Ohio 44805. The

Receiver believes The Huntington Property should be abandoned because the Receivership Estate

has insufficient funds to maintain it, there is no likelihood of obtaining any net value for the

Receivership Estate, and the balance remaining on Huntington’s mortgage against the Huntington

Property exceeds the value of the property. No party voiced an objection to the Receiver’s motion.

Therefore, the Court will grant it.

Accordingly, it is ORDERED that with regard to the Huntington Property, the Receiver’s

motion to abandon Huntington real property [dkt. # 168] is GRANTED.

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It is further ORDERED as follows:

1. The Preliminary Injunction is hereby MODIFIED to provide that the Huntington Property

is excluded from the Preliminary Injunction, and the Receivership Order is modified to

release the Huntington Property to permit Huntington to exercise their rights as the holder

of a mortgage.

2. .The Preliminary Injunction is hereby MODIFIED to provide that the rents and other

proceeds from the Huntington Property are hereby excluded from the Preliminary Injunction,

and the Receivership Order is modified to direct the Receiver to turn over to Huntington the

Huntington Property, including rents and other proceeds which come to his possession or

control in the future.

3. Huntington shall provide an accounting to the Receiver for all amounts realized on the

Huntington Property, including rents and other proceeds, and all expenses related to the

Huntington Property, and shall hold the excess (if any) of all amounts realized on the

Huntington Property net of expenses above the debt secured by the Huntington Property

pending further order of this Court.

4. The Receiver shall provide an accounting to Huntington for the rents and other proceeds of

the Huntington Property that are now, or hereafter come into his possession or control.

5. Huntington shall pay the Receiver the amounts of $1,917.50 and $2,956.00 to compensate

them for administrative expenses incurred during investigation, review and analysis related

to entry of this Order. This Order shall not become effective unless and until such sums are

paid. 

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6. Huntington shall not make claims against the Receiver or the Receivership estate for matters

related to the Huntington Property, except for (I) claims related to the accountings and other

matters required by this Order and (ii) claims and defenses asserted in response to claims (if

any) now or hereafter asserted in proceedings by the Receiver or the Receivership Estate

against Huntington relating to the Huntington Property, in which event Huntington may

assert all claims and defenses that it would have but for this Order. 

7. Nothing contained in this Order shall affect the rights of Huntington or the Receiver and the

Receivership Estate as to any properties other than the Huntington Property nor shall this

Order affect the terms and conditions of the Temporary Restraining Order, Preliminary

Injunction or Receivership Order in any other respect, including any provision precluding

Huntington from proceeding against John J. Bravata, Richard J. Trabulsy, Shari A. Bravata,

or Antonio M. Bravata individually.

8. This Court retains jurisdiction over the parties to, and subject matter of, this Order for all

purposes, including disputes and unforeseen issues, and that Huntington has consented to

such jurisdiction by its approval of this Order.

s/David M. Lawson 

DAVID M. LAWSON

United States District Judge

Dated: January 13, 2010

PROOF OF SERVICE

The undersigned certifies that a copy of the foregoing order was served

upon each attorney or party of record herein by electronic means or first

class U.S. mail on January 13, 2010.

s/Teresa Scott-Feijoo 

TERESA SCOTT-FEIJOO

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