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Michael B. Elman & Associates
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Order | Filed: May 24, 2024 | Entered: May 24, 2024 United States Securities and Exchange Commission v. Equitybuild, Inc. et al
850(Securities/Commodities) | Illinois Northern
Order Approving Distribution Of Proceeds From The Sale Of Properties
ORDER APPROVING DISTRIBUTION OF PROCEEDS FROM THE SALE OF PROPERTIES 67 (1131-41 E 79TH PLACE) AND 72 (7024-32 S PAXTON AVENUE). Signed by the Honorable Manish S. Shah on 5/24/2024. Notices Mailed. (psm, ) (Entered: 05/24/2024)
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Filed: May 24, 2024 | Entered: May 24, 2024 United States Securities and Exchange Commission v. Equitybuild, Inc. et al
850(Securities/Commodities) | Illinois Northern
Minute
MINUTE entry before the Honorable Manish S. Shah: The motion to approve distribution of proceeds from the sale of Property 67 and Property 72 1653 is granted. No objections to the proposal have been submitted. The court agrees with the Receiver's priority recommendations and agrees that the proposed distributions are a reasonable and fair compromise of FHFA's standing objections, which are imposing costs on the entirety of the estate by prolonging litigation but are not without some litigation risk for both sides. The compromise is in the best interests of the receivership. The Court's previous orders solely with respect to FHFA's, Fannie Mae's, and Freddie Mac's objections related to the Subject Properties, and only as to those portions of Dkt. 1258, 1325, 1366, 1452, 1490, 1510, 1511, 1539, 1573, and 1618 that specifically relate to fees allocated to the Subject Properties, are hereby vacated and voided. The orders remain in effect and are expressly not vacated with respect to all properties other than the Subject Properties. Enter Order. Notices Mailed. (psm, ) (Entered: 05/24/2024)
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Filed: May 15, 2024 | Entered: May 15, 2024 United States Securities and Exchange Commission v. Equitybuild, Inc. et al
850(Securities/Commodities) | Illinois Northern
Minute
MINUTE entry before the Honorable Manish S. Shah: The motion for extension of time 1661 is granted, and no appearance on the motion is necessary. Additional discovery for Groups 6 and 7 may be served by 5/29/24, with responses due by 6/26/24. The court, having reviewed the Receiver's 23rd Status Report, confirms the continuation of the Receivership under the order appointing the Receiver. Objections to the Receiver's 23rd Interim Application for Fees and Expenses 1660 are due by 5/29/24. Notices Mailed. (psm, ) (Entered: 05/15/2024)
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