United States Securities and Exchange Commission v. Borland et al
| United States Securities and Exchange Commission |
| Brent Borland, Borland Capital Group, LLC and Belize Infrastructure Fund I, LLC |
| Canyon Acquisitions, LLC and Alana LaTorra Borland |
| United States Attorney's Office (S.D.N.Y.) |
| 1:2018cv04352 |
| May 16, 2018 |
| US District Court for the Southern District of New York |
| Foley Square Office |
| XX Out of State |
| P. Kevin Castel |
| 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
86
ORDER DENYING RECONSIDERATION OF ORDER RELATING TO LIENS FILED WITH THE SUFFOLK COUNTY CLERK: The motion for reconsideration is DENIED. SO ORDERED. (Signed by Judge P. Kevin Castel on 10/2/2024) (vfr)
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Filing
71
ORDER RELATING TO LIENS FILED WITH THE SUFFOLK COUNTY CLERK: THE COURT HEREBY ORDERS AND DECLARES that: 1. Copper Leaf, LLC has no valid enforceable lien encumbering 43 North Haven Way, Sag Harbor, NY; 2. McLoughlin Construction Corp.'s Su ffolk County, New York lien encumbering 43 North Haven Way, Sag Harbor, NY has expired insofar as the SEC's application reveals and accordingly its application regarding the MCC lien is moot. 3. The SEC may file a copy of this Order with Suffolk County, New York Registrar-Recorder/County Clerk; and 4. The Court will retain jurisdiction of this matter for all purposes. (AS FURTHER SET FORTH IN THIS ORDER.) SO ORDERED. (Signed by Judge P. Kevin Castel on 8/30/2024) (vfr)
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Filing
65
FINAL JUDGMENT AS TO RELIEF DEFENDANT ALANA LaTORRA BORLAND: The United States Securities and Exchange Commission having filed a Complaint and Relief Defendant Alana LaTorra Borland ("Relief Defendant") having entered a general appearan ce; consented to the Court's jurisdiction over Relief Defendant and the subject matter of this action; consented to entry of this Final Judgment without admitting or denying the allegations of the Complaint ( except as to jurisdiction and exce pt as otherwise provided herein in paragraph III); waived findings of fact and conclusions of law; and waived any right to appeal from this Final Judgment: IT IS HEREBY ORDERED, ADJUDGED, AND DECREED that Relief Defendant is liable, jointly and se verally with Defendant Brent Borland, for disgorgement of $6,266,843.37, representing net profits gained as a result of the conduct alleged in the Complaint, together with prejudgment interest thereon in the amount of $949,020.96, whic h shall be deemed satisfied by the following: (a) the Order of Restitution entered against Defendant Brent Borland in United States v. Borland, Case No. l:18-cr-487 (S.D.N.Y.) (Dkt. Entry 110); (b) the transfer of frozen funds, described herein in Section II, to the Commission; (c) Relief Defendant's and Defendant Brent Borland's consent to the Court's appointment of a Liquidation Agent to take possession of, market for sale, and sell the real property located at 43 North Hav en Way, Sag Harbor, NY 11963 (the "Sag Harbor Property"); and (d) the Liquidation Agent's turnover of its net proceeds, if any, from the sale of the Sag Harbor Property to the Commission, AS FURTHER SET FORTH HEREIN. IT IS FURTHER O RDERED, ADJUDGED, AND DECREED that the Consent is incorporated herein with the same force and effect as if fully set forth herein, and that Relief Defendant shall comply with all of the undertakings and agreements set forth therein. IT IS FURTHER ORDERED, ADJUDGED, AND DECREED that, solely for purposes of exceptions to discharge set forth in Section 523 of the Bankruptcy Code, 11 U.S.C. §523, the allegations in the complaint are true and admitted by Relief Defendant, and further, any debt fordisgorgement, prejudgment interest, civil penalty or other amounts due by Relief Defendant under this Final Judgment or any other judgment, order, consent order, decree or settlement agreement entered in connection with this proceeding, is a debt for the violation of the federal securities laws or any regulation or order issued under such laws, as set forth in Section 523(a)(19) of the Bankruptcy Code, 11 U.S.C. §523(a)(19). IT IS FURTHER ORDERED, ADJUDGED, AND DECREED t hat this Court shall retain jurisdiction of this matter for the purposes of enforcing the terms of this Final Judgment and the sale of the Sag Harbor Property. (AS FURTHER SET FORTH IN THIS ORDER.) Alana LaTorra Borland terminated. (Signed by Judge P. Kevin Castel on 5/16/2024) (vfr) Transmission to Finance Unit (Cashiers) for processing. Modified on 5/16/2024 (vfr).
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Filing
63
ORDER APPOINTING LIQUIDATION AGENT granting 52 Motion Appoint Liquidation Agent for Borland Defendants Home and Declare Invalid Liens Filed in Violation of the Courts Asset Freeze re: 41 Memo Endorsement, Set Deadlines/Hearings . IT IS ORDERED that the SEC's motion to appoint a Liquidation Agent is granted. Christopher Ritchey is hereby appointed as the authorized Liquidation Agent ("Liquidation Agent" or "Liquidating Agent") to sell the real pro perty located at 43 N. Haven Way, Sag Harbor, NY 11963 and more particularly with legal description and Tax ID of District 0901, Section 002.00, Block 04.00, Lot 108.000 (the "Subject Property"). IT IS ORDERED that the Liquidation Agent shall have the authority to arrange for the sale of the Subject Property, subject to confirmation by this Court, in any manner approved by the SEC, AS FURTHER SET FORTH IN THIS ORDER. In light of the Court's appointment of a Liquidating Agent, the provisions of28 U.S.C. § 2001, et seq. do not apply to the sale of the real property described herein. IT IS ORDERED that the Liquidating Agent shall be compensated from the proceeds of the sale a) in an amount equal to five (5) percent of the gross sale proceeds; b) for its reasonable and necessary expenditures to protect and preserve the value of the Subject Property; and c) legal fees that may arise to administer the sale of the Subject Property. In its discretion, the Liquidati ng Agent may share a portion of this five percent compensation, per local custom and practice, with any agent of the buyer of the Subject Property. IT IS ORDERED that Defendant Brent Borland and Relief Defendant Alana LaTorraBorland shall promp tly and fully accommodate any request by the Liquidating Agent for any items the Liquidating Agent deems necessary in fulfilling the scope of its appointment over the Subject Property, including, but not limited to: keys, deeds, site plan approvals, architectural drawings and/or tax records of the Subject Property and, in the meantime, preserving any and all such items and shall maintain adequate levels of insurance on the Subject Property protecting the SEC's interest. IT IS ORDERED t hat Defendant Brent Borland and Relief Defendant Alana LaTorra Borland shall promptly and fully accommodate any request by the Liquidating Agent for access to the Subject Property by or on behalf of Liquidating Agent, personnel of the Hudson Adviso ry Team, professionals retained by or working with Liquidating Agent or any potential buyers and their representatives. IT IS FURTHER ORDERED that Defendant Brent Borland and Relief Defendant Alana LaTorra Borland, and all persons acting in conce rt with or on their behalf, are hereby restrained and enjoined from interfering in any way with the Subject Property, or with the Liquidating Agent, or with the Liquidating Agent's efforts to comply with its obligations under this Order, and any violation of this order may result in a fine, or incarceration, or both. IT IS FURTHER ORDERED that Defendant Brent Borland and Relief Defendant Alana LaTorra Borland, and all persons acting in concert with or on their behalf, are hereby res trained and enjoined from directly or indirectly making, creating, incurring, assuming or permitting to exist any assignment, transfer, pledge, mortgage, security interest, lien, or other encumbrance of any nature in, to or against any part of the Subject Property without written consent from an attorney of record for the Commission, or with the Liquidating Agent, and any violation may result in a fine, or incarceration, or both. (AS FURTHER SET FORTH IN THIS ORDER.) The Clerk shall terminate the motion (ECF 52). (Signed by Judge P. Kevin Castel on 5/9/2024) (vfr)
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Filing
39
MEMO ENDORSEMENT on RECEIVER JONATHAN E. PERLMAN'S MOTION TO MODIFY ASSET FREEZE ORDER: granting 36 Motion for Modify Asset Freeze re: 36 MOTION to Modify Asset Freeze Order re: 12 Preliminary Injunction. ENDORSEMENT: The Motion (Do c. 36) is GRANTED and the Asset Freeze Order modified in accordance with the first sentence of the "Conclusion" to the motion at Paragraph 3-4. SO ORDERED. (Signed by Judge P. Kevin Castel on 9/15/2021) (ama) Modified on 9/15/2021 (ama).
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Filing
32
ORDER GRANTING EMIGRANT RESIDENTIAL, LLC'S MOTION TO MODIFY ASSET FREEZE ORDER [D.E. 12]: It is Therefore ORDERED and ADJUDGED: EMIGRANT'S Motion to Modify be and the same is hereby GRANTED. This Court hereby modifies its freeze order, therefore permitting the subject property to be sold by the Palm Beach County Circuit Court in accordance with its regular sale procedures. The Clerk of Palm Beach Circuit Court may issue title to the successful bidder. Emigrant may be paid if the property is sold to a third party. Any surplus funds shall remain with the Clerk of the Palm Beach County Circuit Court subject to this Court's modified freeze order, with any surplus funds remaining frozen pending further order of this Court. T he relief granted herein is contingent on the Palm Beach County Circuit Court finding that Emigrant's mortgage is a first mortgage and any Final Judgment of Foreclosure provides that the Palm Beach County Circuit Court acknowledges and agrees to said modified Freeze Order. SO ORDERED. (Signed by Judge P. Kevin Castel on 5/6/2020) (mml)
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Filing
30
ORDER: granting 26 Motion for Modification of the Asset Freeze Order. Intervenor Emigrant Residential, LLC's unopposed motion for modification of the Asset Freeze Order is GRANTED. The Clerk is directed to terminate the motion. (Docket # 26.) Emigrant Residential is directed to file a proposed Order no later than May 13, 2020. SO ORDERED (Signed by Judge P. Kevin Castel on 4/29/2020) (ama)
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