Case Information
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*3 Case 1:14-mc-00243 Document 1 Filed 11/12/14 USDC Colorado Page 3 of 15
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Any bank, financial institution or brokerage firm, or third-party payment processor holding such monies and assets described above shall hold and retain
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Cise 2:14-cv-07249-SJO-FFM Document 42 Filed 10/29/14 Page 11 of 15 Page ID #:865
subsidiaries and affiliates; B. to have control of, and to be added as the sole authorized signatory for, all accounts of the entities in receivership, including all accounts at any bank, title company, escrow agent, financial institution or brokerage firm (including any futures commission merchant) which has possession, custody or control of any assets or funds of Defendant Nationwide Automated Systems, Inc., and its subsidiaries and affiliates, or which maintains accounts over which Defendant Nationwide Automated Systems, Inc., and its subsidiaries and affiliates, and/or any of its employees or agents have signatory authority; C. to conduct such investigation and discovery as may be necessary to locate and account for all of the assets of or managed by Defendant Nationwide Automated Systems, Inc., and its subsidiaries and affiliates, and to engage and employ attorneys, accountants and other persons to assist in such investigation and discovery; D. to take such action as is necessary and appropriate to preserve and take control of and to prevent the dissipation, concealment, or disposition of any assets of or managed by Defendant Nationwide Automated Systems, Inc., and its subsidiaries and affiliates; E. to make an accounting, as soon as practicable, to this Court and the SEC of the assets and financial condition of Defendant Nationwide Automated Systems, Inc., and to file the accounting with the Court and deliver copies thereof to all parties; F. to make such payments and disbursements from the funds and assets taken into custody, control, and possession or thereafter received by him or her, and to incur, or authorize the making of, such agreements as may be necessary and advisable in discharging his or her duties as receiver; G. to employ attorneys, accountants, and others to investigate and, where
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appropriate, to institute, pursue, and prosecute all claims and causes of action of whatever kind and nature which may now or hereafter exist as a result of the activities of present or past employees or agents of
Defendant Nationwide Automated Systems, Inc., and its subsidiaries and affiliates; and H. to have access to and monitor all mail, electronic mail, and video phone of the entities in receivership in order to review such mail, electronic mail, and video phone which he or she deems relates to their business and the discharging of his or her duties as receiver.
XIII.
IT IS FURTHER ORDERED that Defendant Nationwide Automated Systems, Inc., its subsidiaries and affiliates, including all of the other entities in receivership, and their officers, agents, servants, employees and attorneys, and any other persons who are in custody, possession or control of any assets, collateral, books, records, papers or other property of or managed by any of the entities in receivership, shall forthwith give access to and control of such property to the receiver.
XIV.
IT IS FURTHER ORDERED that no officer, agent, servant, employee or attorney of Defendant Nationwide Automated Systems, Inc. shall take any action or purport to take any action, in the name of or on behalf of Defendant Nationwide Automated Systems, Inc., without the written consent of the receiver or order of this Court.
XV.
IT IS FURTHER ORDERED that, except by leave of this Court, during the pendency of this receivership, all clients, investors, trust beneficiaries, note holders, creditors, claimants, lessors and all other persons or entities seeking relief of any kind, in law or in equity, from Defendant Nationwide Automated Systems, Inc., or its subsidiaries or affiliates, and all persons acting on behalf of any such investor, trust
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se 2:14-cv-07249-SJO-FFM Document 42 Filed 10/29/14 Page 14 of 15 Page ID #:868 premises, and choses in action described above.
XVII.
IT IS FURTHER ORDERED that Defendant Nationwide Automated Systems, Inc., and its subsidiaries and affiliates (but not Defendants Gillis and Wishner), shall pay the costs, fees and expenses of the receiver incurred in connection with the performance of his duties described in this Order, including the costs and expenses of those persons who may be engaged or employed by the receiver to assist him in carrying out his duties and obligations. All applications for costs, fees, and expenses for services rendered in connection with the receivership other than routine and necessary business expenses in conducting the receivership, such as salaries, rent, and any and all other reasonable operating expenses, shall be made by application setting forth in reasonable detail the nature of the services and shall be heard by the Court.
XVIII.
IT IS FURTHER ORDERED that no bond shall be required in connection with the appointment of the receiver. Except for an act of gross negligence, the receiver shall not be liable for any loss or damage incurred by any of the defendants, their officers, agents, servants, employees and attorneys or any other person, by reason of any act performed or omitted to be performed by the receiver in connection with the discharge of his duties and responsibilities.
XIX.
IT IS FURTHER ORDERED that representatives of the SEC and any other government agency are authorized to have continuing access to inspect or copy any or all of the corporate books and records and other documents of Defendant Nationwide Automated Systems, Inc., and the other entities in receivership, and continuing access to inspect their funds, property, assets and collateral, wherever located.
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IT IS FURTHER ORDERED that this Court shall retain jurisdiction over this
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Presented by: Gary Y. Leung Attorney for Plaintiff Securities and Exchange Commission