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Securities and Exchange Commission v. Bic Real Estate Development Corporation

United States District Court, E.D. California

July 11, 2017

SECURITIES AND EXCHANGE COMMISSION, Plaintiff,
v.
BIC REAL ESTATE DEVELOPMENT CORPORATION and DANIEL R. NASE, individually and d/b/a BAKERSFIELD INVESTMENT CLUB, Defendants, BIC SOLO 401K TRUST and MARGARITA NASE, Relief Defendants.

          ORDER AUTHORIZING RECEIVER'S SALE OF REAL PROPERTY LOCATED AT 5201 DUNSMUIR RD, APT. 35, BAKERSFIELD, CA 93309

          Lawrence J. O'Neill UNITED STATES CHIEF DISTRICT JUDGE

         ORDER

         In accordance with its September 19, 2016 Order Granting Stipulation to Waive Requirements of 28 U.S.C. § 2001(a) and (b) in Connection with, and to Establish Sales Procedures for, Receiver's Sales of Residential Real Property (the "Stipulation") and the sales procedures approved therein (the "Sales Procedures"), this Court has reviewed the June 29, 2017, Declaration of David P. Stapleton, the Court-appointed receiver (the "Receiver") regarding his proposed sale of the real property located at and commonly known as 5201 Dunsmuir Rd., Apt. 35, Bakersfield, CA 93309, Assessor's Parcel Number 331-280-49-00-8 (the "Property"). The legal description for the Property is as follows:

         All that certain real property in the County of Kern, State of California, described as follows:

Lot 35 of Tract No. 4395-A, in the City of Bakersfield, County of Kern, State of California, as per Map recorded August 17, 1981 in Book. 31, Pages 77 and 78 of Maps, and as corrected by Certificate of Compliance recorded July 8, 1982 in Book 5471, Page 2018 of Official Records, in the office of the County Recorder of said County.
As to that portion of the above described land lying within the Southerly 1320 feet of said Section 34 and as corrected by Certificate of Compliance recorded July 8, 1982 in Book 5461, Page 2018 of Official Records.
Excepting therefrom all oil, gas, minerals and other hydrocarbon substances within or underlying said land as reserved by Kern County Land Company, A Delaware Corporation, now Tenneco West, Inc., A Delaware Corporation in deed recorded March 13 1969 in Book 4256, Page 762, of Official Records, and re-recorded March 28, 1969 in Book 4261, Page 402 of Official Records. As to that portion of the described land lying Northerly of the Southerly 1320 feet of said Section 34, and to the remainder of the above described land lying within said Section 35.
Excepting therefrom all oil, gas, minerals and other hydrocarbon substances within or underlying said land, or that may be produced and saved therefrom, providing however, Grantor, his successors and assigns shall not conduct drilling or other operations upon the surface of said land, but nothing herein contained shall be deemed to prevent the Grantor, his successors and assigns, from extracting or capturing said minerals by drilling on adjacent or neighboring lands and/or from conducting subsurface drilling operations under said land at a depth of 500 feet below the surface of said land, so as not to disturb the surface of said land or any improvements thereon, as reserved by Tenneco West, Inc., A Delaware Corporation in deed recorded July 24, 1972 in Book 4703, Page 77, of Official Records, and re-recorded August 21, 1972 in Book 4714, Page 128 of Official Records.

331-280-49-00-8

         Having confirmed the Receiver's compliance with the Sales Procedures, and the 15-day notice period provided for in the Stipulation having lapsed without objection to the Receiver's proposed sale of the Property, this Court orders as follows:

         1. The terms of the purchase and sale agreement, and all attendant documents (collectively, the "PSA"), by and between the Receiver and Peyman Aminloo ("Buyer") in connection with the Receiver's proposed sale of the Property to Buyer are approved;

         2. The Court ratifies the Receiver's execution of the PSA and authorizes the Receiver to perform all of his obligations under the PSA;

         3. The Receiver is authorized to sell the Property to Buyer or Buyer's designee, as contemplated in the PSA, in exchange for the aggregate sum of $93, 000.00 subject to the applicable terms of this Order;

         4. The Receiver is further authorized to pay any commissions provided for in the PSA and in connection with the ...


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