S.E.C. v. CREDIT BANCORP, LTD.

No. 99 Civ. 11395(RWS).

290 F.Supp.2d 418 (2003)

SECURITIES AND EXCHANGE COMMISSION, Plaintiff, Stephenson Equity Company, Plaintiff-Intervenor, v. CREDIT BANCORP, LTD., Credit Bancorp, Inc., Richard Jonathan Blech, Thomas Michael Rittweger and Douglas C. Brandon, Defendants.

United States District Court, S.D. New York.

November 7, 2003.


Attorney(s) appearing for the Case

Morrison & Foerster by Carl M. Loewenson, Jr., Oliver Metzger, Jin Hee Lee, New York City, for Court-appointed Receiver.

Hall, Estill, Hardwick, Gable, Golden & Nelson by Donald L. Kahl, T. Lane Wilson, Tulsa, OK, for Seco.

Krovatin & Associates by Joshua C. Gillette, Newark, NJ, for John and Karen P. Greer, Henry H. Greer, and InterBanc Mortgage Services, Inc.

Sheldon A. Weiss, Mountainside, NJ, for Stappas Intervenors.

David Constantino, Southbridge, MA, for Advisor's Capital Investments, Inc.


OPINION

SWEET, District Judge.

Carl H. Loewenson Jr. Esq., as Court-appointed Receiver (the "Receiver") for Credit Bancorp, Ltd. and affiliated entities (individually and collectively, "CBL") has moved for an order allowing the Receiver to implement the plan of partial distribution, which was approved by this Court on January 19, 2001 (the "Plan").

For the reasons set forth below, the motion is approved, according to the terms of the revised...

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