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Securities and Exchange Commission v. Schooler

United States District Court, Ninth Circuit

November 5, 2013

SECURITIES AND EXCHANGE COMMISSION, Plaintiff,
v.
LOUIS
v.
SCHOOLER and FIRST FINANCIAL PLANNING CORPORATION, dba Western Financial Planning Corporation, Defendants.

ORDER: (1) GRANTING IN PART RECEIVER'S THIRD FEE APPLICATION, (ECF NO. 197); (2) GRANTING IN PART ALLEN MATKINS' THIRD FEE APPLICATION, (ECF NO. 198); (3) GRANTING DUFFY'S FIRST FEE APPLICATION, (ECF NO. 202); (4) GRANTING MOTION FOR ORDER APPROVING SETTLEMENT, (ECF NO. 256); (5) GRANTING COTTON DRIGGS' FINAL FEE APPLICATION, (ECF NO. 472); (6) GRANTING IN PART RECEIVER'S FOURTH FEE APPLICATION, (ECF NO. 477); (7) GRANTING IN PART ALLEN MATKINS' FOURTH FEE APPLICATION, (ECF NO. 478); (8) APPROVING RECEIVER'S FIFTH INTERIM REPORT, (ECF NO. 481)

GONZALO P. CURIEL, District Judge.

INTRODUCTION

This is a civil enforcement action initiated by the Securities and Exchange Commission ("Commission"), in which the Commission alleges defendants Louis V. Schooler ("Schooler") and First Financial Planning Corporation d/b/a Western Financial Planning Corporation ("Western") defrauded investors through the sale of unregistered securities tied to interests in real property. The Court has entered a preliminary injunction and appointed Thomas C. Hebrank ("Receiver") as permanent receiver to operate and manage the affairs of Western, its subsidiaries, and the several general partnerships that Defendants formed in connection with the sale of the aforementioned interests in real property. Several items are before the Court for disposition:

1. Third Interim Application for Approval and Payment of Fees and Costs to Thomas C. Hebrank, as Receiver ("Receiver's Third Fee Application"), (ECF No. 197);
a. Schooler has filed a response in opposition to the Receiver's Third Fee Application, (ECF No. 464);
b. The Receiver has filed a reply in support of his Third Fee Application, (ECF No. 467);
c. The Commission has filed a statement of non-opposition to the Receiver's Third Fee Application, (ECF No. 464);
2. Third Interim Fee Application of Allen Matkins Leck Gamble Mallory & Natsis LLP, Counsel to Receiver ("Allen Matkins' Third Fee Application"), (ECF No. 198);
a. Schooler has filed a response in opposition to Allen Matkins' Third Fee Application, (ECF No. 464);
b. The Receiver has filed a reply in support of Allen Matkins' Third Fee Application, (ECF No. 467);
c. The Commission has filed a statement of non-opposition to Allen Matkins' Third Fee Application, (ECF No. 464);
3. First Interim Application for Approval and Payment of Fees and Costs to Duffy, Kruspodin & Company, LLP, as Tax Accountants for Receiver ("Duffy's First Fee Application"), (ECF No. 202);
a. The Commission has filed a statement of non-opposition to Duffy's First Fee Application, (ECF No. 464);
4. Motion to Approve Settlement with Sierra Pacific Power Company, (ECF No. 256);
5. Final Fee Application of Cotton, Driggs, Walch, Holley Woloson & Thompson, Special Counsel to Receiver, ("Cotton Driggs' Final Fee Application"), (ECF No. 472);
6. Fourth Interim Application for Approval and Payment of Fees and Costs to Thomas C. Hebrank, as Receiver ("Receiver's Fourth Fee Application"), (ECF No. 477);
a. Schooler has filed a response in opposition to the Receiver's Fourth Fee Application, (ECF No. 505);
b. The Receiver has filed a reply in support of his Fourth Fee Application, (ECF No. 508);
7. Fourth Interim Fee Application of Allen Matkins Leck Gamble Mallory & Natsis LLP, Counsel to Receiver ("Allen Matkins' Fourth Fee Application), (ECF No. 478);
a. Schooler has filed a response in opposition to Allen Matkins' Fourth Fee Application, (ECF No. 505);
b. The Receiver has filed a reply in support of Allen Matkins' Fourth Fee Application, (ECF No. 508);
8. The Receiver's Fifth Interim Report, (ECF No. 481).

The Court has considered the foregoing items and all related briefing. The Court finds the foregoing items suitable for disposition ...


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