Securities And Exchange Commission v. Torchia et al
| Securities And Exchange Commission |
| James A. Torchia, Credit Nation Capital, LLC, Credit Nation Acceptance, LLC, Credit Nation Auto Sales, LLC, American Motor Credit, LLC and Spaghetti Junction, LLC |
| 1:2015cv03904 |
| November 10, 2015 |
| US District Court for the Northern District of Georgia |
| Atlanta Office |
| Cherokee |
| William S. Duffey |
| Securities/Commodities/Exchanges |
| 15 U.S.C. ยง 77 |
| Plaintiff |
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The following documents for this case are available for you to view or download:
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Filing
451
OPINION AND ORDER directing that the Receiver shall, on or before June 2, 2017, file its reply to the Sutherlands' Response brief 404 . The Court will then determine whether further proceedings are required with respect to the Receivers Motion for Order for Assignment by Katherine and Richard Sutherland to the Receivership Estate 342 . Signed by Judge William S. Duffey, Jr on 5/16/17. (ddm)
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Filing
414
OPINION AND ORDER denying Sonya Gravitts Motion to Stay Pending Appeal 336 . Signed by Judge William S. Duffey, Jr on 3/2/17. (ddm)
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Filing
410
OPINION AND ORDER. Defendant James A. Torchia's Emergency Motion for Preliminary and Permanent Injunction 345 is DENIED. Signed by Judge William S. Duffey, Jr on 3/1/2017. (bgt)
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Filing
290
ORDER. The Commission and Mr. Torchia shall, on or before December 21, 2016, submit to the Court a discovery plan detailing the remaining discovery the parties seek, including the dates by which each category of remaining discovery will be due. All remaining discovery is required to be completed on or before February 3, 2017. Mr. Torchia shall make himself available to be deposed by the Commission on or before January 6, 2017. Mr. Torchia's Motion to Stay Proceedings 272 is DENIED. Signed by Judge William S. Duffey, Jr on 12/15/2016. (bgt)
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Filing
271
OPINION AND ORDER directing that Defendant James Torchia and Marc Celello shall, on or before November 30, 2016, execute an assignment to River Green of each of the Policies in substantially the form attached as Exhibit D to the Receivers Motion [263.1], and shall execute any other document as may be requested by the Receiver or an insurer to perfect an assignment of the Policies to River Green and the Receiver. Signed by Judge William S. Duffey, Jr on 11/23/16. (ddm)
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Filing
266
OPINION AND ORDER granting James M. Johnson, Sherri L. Buda and Knight Johnson, LLCs Motion to Withdraw as Counsel of Record for James A. Torchia 260 . Signed by Judge William S. Duffey, Jr on 11/10/16. (ddm)
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Filing
253
OPINION AND ORDER granting Receiver Al Hills Motion to Expand Receivership 212 . River Green Capital, LLC, National Viatical, Inc., and National Viatical Trust are placed into the Credit Nation Capital Receivership. Signed by Judge William S. Duffey, Jr on 10/25/16. (ddm)
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Filing
208
ORDER AND OPINION. Intervenors' Motion to Amend Pooling Order 185 is DENIED. Signed by Judge William S. Duffey, Jr on 8/24/2016. (bgt)
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Filing
150
ORDER AND OPINION. Katherine S. Addleman, Stephen L. Corso, and Timothy A. Newman's Renewed Motion to Withdraw as Counsel of Record for James A. Torchia, Credit Nation Capital, LLC, and the Other Defendants 142 is GRANTED. Signed by Judge William S. Duffey, Jr on 6/13/2016. (bgt)
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Filing
120
OPINION AND ORDER that the Receiver shall distribute Defendants' assets on a pro rata basis, except as follows: (i) Direct Investors shall, consistent with this Opinion and Order, maintain their interests in life insurance policies only if the y remit to the Receiver fictitious profits they have received from CN Capital as a result of its premium payments and servicing of their policies; and (ii) a Direct or Indirect Investor who owns 100% of a life insurance policy for which the in vestor has paid premiums shall, consistent with this Opinion and Order, maintain the investor's interest in the life insurance policy only if the investor remits to the Receiver fictitious profits the investor has received from CN Capital as a result of its servicing of the investor's policy. The payments required to be made under this Order to maintain an interest in a life insurance policy must be paid within twenty (20) calendar days after the Receiver sends to the investor a statement of the amount of fictitious profits the investor must pay to the Receiver. Signed by Judge William S. Duffey, Jr on 5/25/2016. (anc)
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Filing
66
OPINION AND ORDER granting 20 Motion for Preliminary Injunction and denying as moot 2 Motion for TRO . See pages 71-73 of this Order for specifics. IT IS FURTHER ORDERED that the assets of Defendants be, and hereby are, frozen. IT IS FURTHER O RDERED that a Receiver be appointed in this action to marshal and preserve the Assets. Mr. Al B. Hill of Taylor English Duma LLP in Atlanta, Georgia is determined by the Court to be uniquely qualified to serve as Receiver, and he is appointed the Re ceiver in this matter. IT IS FURTHER ORDERED that, while this injunction is in effect, the following written reports are required as outlined on pages 78-81 of this Order. See pages 82-85 for further requirements. IT IS FURTHER ORDERED that the Court shall hold, on Wednesday, May 11, 2016, at 10:00 am, a telephonic status conference with counsel for the parties and the Receiver. Counsel and the Receiver are required, before the status conference, to confer and submit to the Court their joint su mmary of any disputes or potential disputes regarding the scope or application of this Order, or any practical issues or considerations regarding the enforcement and execution of this Order. Signed by Judge William S. Duffey, Jr on 4/25/2016. (anc) Modified on 4/25/2016 in order to correct ruling info (anc).
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