The opinion of the court was delivered by: Honorable Garland E. Burrell, Jr. United States District Judge
ORDER COMPELLING PAYMENT OF PREMIUM SHARE FROM PETER PAPPAS [SLE-K(2)]
On this day the Court considered the Receiver's Motion to Compel Payment of Premium Share from Peter Pappas [SLE-K(2)]. Having carefully considered the Motion and the pleadings and papers on file in this case, the Court is of the opinion, and so finds, that the Motion should be granted. Accordingly,
It is ORDERED that Peter Pappas shall, within 10 days of the date of this Order, pay the Receiver $1,408.30 for his share of the premiums.
It is FURTHER ORDERED that Peter Pappas shall pay the Receiver his percentage share of all additional premium obligations within 10 days of the issuance of a written invoice.
It is FURTHER ORDERED that should Peter Pappas fail to pay $1,408.30 for his share of the premiums or his percentage share of any additional premium obligations as they become due, Peter Pappas's 3.0286% ownership and beneficial interest in the SLE-K(2) Policy will automatically be forfeited to the receivership estate and be replaced by an allowed claim for $10,000.00 in his favor.
It is FURTHER ORDERED that in the event Peter Pappas's ownership and beneficial interest is forfeited to the receivership estate, then John Hancock is ORDERED to change its records to reflect and effectuate the transfer.
SIGNED this 5th day of January, 2009.
CERTIFICATE OF CERTIFIED MAIL SERVICE
I hereby certify that on the 4th day of December, 2008, a copy of this [Proposed] Order was served on all interested parties through the Court's electronic filing system. In addition, a copy of this motion was served on by U.S. Certified Mail, Return Receipt Requested on the following investor named as owner of the SLE-K(2) Policy at his last known address:
Peter Pappas 5026 Hoy Road Weed, CA 96064
I hereby certify that on the 4th day of December, 2008, a copy of this [Proposed] Order on all interested parties through the Court's electronic filing system. In addition, a copy of this motion was served on the following other persons by First Class U.S. Mail: Lon W. Halley Bazzle John Wilson 561 ...