SEC vs. Emilio Francisco, PDC Capital Group, LLC, et al
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This website was last updated August 3, 2018.

This web site has been established to foster efficient communications between investors and creditors of PDC CAPITAL GROUP, LLC, et al (the "Companies") and Thomas Seaman, who is serving as its permanent receiver in an SEC enforcement action known as Securities Exchange Commission (the "SEC" or "Plaintiff") vs. Emilio Francisco; PDC Capital Group, LLC, et al (collectively, the "Defendants"); Case No. SACV 16-02257-CJC(DFMx) in the United States District Court, Central District of California, Southern Division. The case is heard before the Honorable Cormac J. Carney. A summary of the case including the COMPLAINT [Dkt. No. 1], TEMPORARY RESTRAINING ORDER [Dkt. No. 17] (the "TRO") and PRELIMINARY INJUNCTION AGAINST ALL DEFENDANTS [Dkt. No. 36] (the "PI") is at the bottom of this page.

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NOTICE OF CLAIMS BAR DATE
SEC vs. EMILIO FRANCISCO; PDC CAPITAL GROUP, LLC; CAFFE PRIMO INTERNATIONAL, INC.; SAL ASSISTED LIVING, LP; SAL CARMICHAEL, LP; SAL CITRUS HEIGHTS, LP; SAL KERN CANYON, LP; SAL PHOENIX, LP; SAL WESTGATE, LP; SUMMERPLACE AT SARASOTA, LP; SUMMERPLACE AT CLEARWATER, LP; SUMMERPLACE AT CORRELL PALMS, LP; TRC TUCSON, LP; CLEAR CURRENTS WEST, LP; CAFFE PRIMO MANAGEMENT, LP; CAFFE PRIMO MANAGEMENT 102, LP; et al.
Case No. 8:16-CV-02257-CJC-DFM

The Court has set July 10, 2018 as the Claims Bar Date for the submission of claims in the Receivership in this action. Any person or entity who believes they have a claim of any type against PDC CAPITAL GROUP, LLC; CAFFE PRIMO INTERNATIONAL, INC.; SAL ASSISTED LIVING, LP; SAL CARMICHAEL, LP; SAL CITRUS HEIGHTS, LP; SAL KERN CANYON, LP; SAL PHOENIX, LP; SAL WESTGATE, LP; SUMMERPLACE AT SARASOTA, LP; SUMMERPLACE AT CLEARWATER, LP; SUMMERPLACE AT CORRELL PALMS, LP; TRC TUCSON, LP; CLEAR CURRENTS WEST, LP; CAFFE PRIMO MANAGEMENT, LP; CAFFE PRIMO MANAGEMENT 102, LP; et al., or their respective subsidiaries and affiliates (collectively, the "Companies"), must send a Claim Form to Thomas A. Seaman, Court-appointed Receiver, to submit a claim. Do not file your claim with the Court. Claim Forms must be sent to the Receiver on or before July 10, 2018 at 5:00 PM P.S.T. or you will lose your right to receive any distribution from the Receivership Estate and your claim will be forever barred. Additional information and Claim Forms can be obtained from www.pdcreceiver.com or from the Receiver at claims@pdcreceiver.com.
Creditor claim forms were mailed on May 11 to all known vendors and former employees. If you believe you are owed money but did not receive a claim form, you can download a claim form using the link above.

Claim Notice Letters were emailed to all investors on May 11, 2018. Please use the Claim Notice Letter emailed to you. If you did not receive a Claim Notice Letter, please request one by emailing the Receiver at claims@pdcreceiver.com.

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Recent updates appear in reverse chronological order:

MOTION TO APPROVE SALE OF SUMMERFIELD PROPERTY
On August 3, 2018, the Receiver filed his NOTICE OF MOTION AND MOTION OF RECEIVER, THOMAS A. SEAMAN, FOR ORDER APPROVING: (1) SALE OF SUMMERFIELD PROPERTY; (2) REAL ESTATE COMMISSION; AND (3) OVERBID PROCEDURES; MEMORANDUM OF POINTS AND AUTHORITIES [Dkt. No. 284], accompanied by the DECLARATION OF THOMAS A. SEAMAN IN SUPPORT OF RECEIVER'S MOTION FOR ORDER APPROVING: (1) SALE OF SUMMERFIELD PROPERTY; AND (2) OVERBID PROCEDURES [Dkt. No. 284-1] and [PROPOSED] ORDER APPROVING: (1) SALE OF SUMMERFIELD PROPERTY; (2) REAL ESTATE COMMISSION; AND (3) OVERBID PROCEDURES [Dkt. No. 284-2]. The hearing for this motion is calendared for September 10, 2018, at 1:30 p.m.

MOTION TO APPROVE SALE OF THE YACHT BEROCA
On July 27, 2018, the Receiver filed his NOTICE OF MOTION AND MOTION OF RECEIVER, THOMAS A. SEAMAN, FOR ORDER APPROVING: (1) SALE OF YACHT; (2) BROKER COMMISSION; AND (3) SEVERANCE PAYMENT TO CAPTAIN AND FIRST MATE; MEMORANDUM OF POINTS AND AUTHORITIES [Dkt. No. 281], accompanied by the DECLARATION OF THOMAS A. SEAMAN IN SUPPORT OF MOTION OF RECEIVER, THOMAS A. SEAMAN, FOR ORDER APPROVING: (1) SALE OF YACHT; (2) BROKER COMMISSION; AND (3) SEVERANCE PAYMENT TO CAPTAIN AND FIRST MATE [Dkt. No. 281-1]. The hearing for this motion is calendared for September 10, 2018, at 1:30 p.m.

FIFTH INTERIM FEE APPLICATION OF THE RECEIVER; FEE APPLICATIONS OF RECEIVER'S ATTORNEYS
On June 20, 2018, the Receiver filed his FIFTH INTERIM FEE APPLICATION OF THOMAS A. SEAMAN, COURT-APPOINTED RECEIVER, FOR PAYMENT OF FEES FOR FEBRUARY 1, 2018, THROUGH APRIL 30, 2018 [Dkt. No. 269]. From February 1, 2018, through April 30, 2018 (the "Fifth Application Period"), the Receiver and his agents spent 925.4 hours executing the duties set forth in the Preliminary Injunction Against All Defendants entered on January 23, 2017 ("PI Order"). The Receiver seeks approval of 100% of fees and approval to pay 90% of fees. The Receiver does not seek reimbursement of any expenses.

The Receiver's attorneys, Allen Matkins Leck Gamble Mallory & Natsis, also filed with the Court their FIFTH INTERIM FEE APPLICATION OF RECEIVER'S COUNSEL, ALLEN MATKINS LECK GAMBLE MALLORY & NATSIS, LLP, FOR PAYMENT OF FEES AND REIMBURSEMENT OF EXPENSES [FEBRUARY 1, 2018 – APRIL 30, 2018] [Dkt. No. 270]. During the Fifth Application Period the attorneys worked 508.5 hours on behalf of the receivership estate and request the Court approve 100% of fees and expenses on an interim basis and an order authorizing the Receiver to pay, on an interim basis, 80% of fees incurred and 100% of expenses incurred.

Along with these applications the Receiver filed his NOTICE OF HEARING ON INTERIM FEE APPLICATIONS OF THE RECEIVER AND HIS PROFESSIONALS FOR PAYMENT OF FEES AND REIMBURSEMENT OF EXPENSES [Dkt. No. 271]. The hearing for these applications is calendared for 1:30 p.m., July 23, 2018.

RECEIVER'S SIXTH INTERIM REPORT AND RECOMMENDATIONS
On June 19, 2018, the Receiver filed his RECEIVER'S SIXTH INTERIM REPORT AND RECOMMENDATIONS [Dkt. No. 268] with the Court.

MOTION FOR APPROVAL OF SETTLEMENT AGREEMENT WITH SUMMERSET ASSISTED LIVING, LLC
On May 30, 2018, the Receiver filed his NOTICE OF MOTION AND MOTION FOR APPROVAL OF SETTLEMENT AGREEMENT WITH SUMMERSET ASSISTED LIVING, LLC; MEMORANDUM OF POINTS AND AUTHORITIES [Dkt. No. 266] supported by his DECLARATION OF THOMAS A. SEAMAN IN SUPPORT OF MOTION FOR APPROVAL OF SETTLEMENT AGREEMENT WITH SUMMERSET ASSISTED LIVING, LLC [Dkt. No. 266-1]. The hearing for this motion is calendared for July 9, 2018, at 1:30 p.m.

CLAIMS PROCEDURES APPROVED
On May 4, 2018, Judge Carney entered his ORDER GRANTING RECEIVER’S MOTION TO APPROVE CLAIMS FORMS, SETTING CLAIMS BAR DATE, AND ESTABLISHING SUMMARY CLAIMS PROCEDURES [Dkt. No. 253] and ORDER GRANTING RECEIVER'S MOTION: (1) APPROVING CLAIM FORMS; (2) SETTING CLAIMS BAR DATE; AND (3) ESTABLISHING SUMMARY CLAIMS PROCEDURES [Dkt. No. 254].

RECEIVER’S MOTION FOR ORDER AUTHORIZING THE SALE OF PHOENIX PROJECT AND APPROVAL OF RESTRUCTURING AGREEMENT AND DEBT
On May 1, 2018, the Receiver filed his NOTICE OF MOTION AND MOTION OF RECEIVER, FOR ORDER AUTHORIZING THE SALE AND TRANSFER OF INTERESTS IN THE PHOENIX PROJECT AND APPROVAL OF: (1) THE SECOND AMENDED AND RESTATED LIMITED PARTNERSHIP AGREEMENT; (2) RESTRUCTURING LETTER AGREEMENT; AND (3) PROMISSORY NOTE [Dkt. No. 248], which was accompanied by his DECLARATION OF THOMAS A. SEAMAN IN SUPPORT OF RECEIVER'S MOTION FOR ORDER AUTHORIZING THE SALE AND TRANSFER OF INTERESTS IN THE PHOENIX PROJECT AND APPROVAL OF: (1) THE SECOND AMENDED AND RESTATED LIMITED PARTNERSHIP AGREEMENT; (2) THE RESTRUCTURING LETTER; AND (3) THE PROMISSORY NOTE [Dkt. No. 248-1] and [PROPOSED] ORDER GRANTING RECEIVER'S MOTION FOR ORDER AUTHORIZING THE SALE AND TRANSFER OF INTERESTS IN THE PHOENIX PROJECT AND APPROVAL OF: (1) THE SECOND AMENDED AND RESTATED LIMITED PARTNERSHIP AGREEMENT OF SAL PHOENIX, LP; (2) RESTRUCTURING AGREEMENT; AND (3) SUBORDINATED PROMISSORY NOTE [Dkt. No. 248-2]. The hearing for this motion is calendared for June 4, 2018, at 3:00 p.m.

FOURTH INTERIM FEE APPLICATION OF THE RECEIVER; FEE APPLICATIONS OF RECEIVER'S ATTORNEYS
On April 20, 2018, the Receiver filed his FOURTH INTERIM FEE APPLICATION OF THOMAS A. SEAMAN, COURT-APPOINTED RECEIVER, FOR PAYMENT OF FEES FOR NOVEMBER 1, 2017 THROUGH JANUARY 31, 2018 [Dkt. No. 235]. From November 1, 2017, through January 31, 2018 (the "Fourth Application Period"), the Receiver and his agents spent 1,564.2 hours executing the duties set forth in the Preliminary Injunction Against All Defendants entered on January 23, 2017 ("PI Order"). The Receiver seeks approval of 100% of fees and approval to pay 90% of fees. The Receiver does not seek reimbursement of any expenses.

The Receiver's attorneys, Allen Matkins Leck Gamble Mallory & Natsis, also filed with the Court their FOURTH INTERIM FEE APPLICATION OF RECEIVER'S COUNSEL, ALLEN MATKINS LECK GAMBLE MALLORY & NATSIS, LLP, FOR PAYMENT OF FEES AND REIMBURSEMENT OF EXPENSES [NOVEMBER 1, 2017 – JANUARY 31, 2018] [Dkt. No. 236]. During the Fourth Application Period the attorneys worked 476.3 hours on behalf of the receivership estate and request the Court approve 100% of fees and expenses on an interim basis and an order authorizing the Receiver to pay, on an interim basis, 80% of fees incurred and 100% of expenses incurred.

Along with these applications the Receiver filed his NOTICE OF HEARING ON INTERIM FEE APPLICATIONS OF THE RECEIVER AND HIS PROFESSIONALS FOR PAYMENT OF FEES AND REIMBURSEMENT OF EXPENSES [Dkt. No. 237]. The hearing for these applications is calendared for 1:30 p.m., May 21, 2018.

RECEIVER’S MOTION TO APPROVE CLAIM FORMS, CLAIMS BAR DATE, AND CLAIMS PROCEDURES
On April 20, 2018, the Receiver filed his RECEIVER THOMAS A. SEAMAN'S MOTION FOR ORDER: (1) APPROVING CLAIM FORMS; (2) SETTING CLAIMS BAR DATE; AND (3) ESTABLISHING SUMMARY CLAIMS PROCEDURES [Dkt. No. 233], supported by his DECLARATION OF THOMAS SEAMAN [Dkt. No. 233-1] and [PROPOSED] ORDER GRANTING RECEIVER'S MOTION: (1) APPROVING CLAIM FORMS; (2) SETTING CLAIMS BAR DATE; AND (3) ESTABLISHING SUMMARY CLAIMS PROCEDURES [Dkt. No. 233-2] with the court. The hearing for this motion has been calendared for May 21, 2018, at 1:30 pm.

RECEIVER'S FIFTH INTERIM REPORT AND RECOMMENDATIONS
On April 18, 2018, the Receiver filed his RECEIVER'S FIFTH INTERIM REPORT AND RECOMMENDATIONS [Dkt. No. 231] with the Court.

ORDER APPROVING SETTLEMENT AGREEMENT WITH MCC US, INC., TRANSFER OF LINCOLN RED ROCK PROPERTY
On April 16, 2018, Judge Carney entered his ORDER APPROVING: (1) SETTLEMENT AGREEMENT WITH MCC US, INC., (2) TRANSFER OF LINCOLN RED ROCK PROPERTY; AND (3) ANCILLARY RELIEF [Dkt. No. 229], accompanied by its EXHIBIT A – MCC SETTLEMENT AGREEMENT [Dkt. No. 229-1].

RECEIVER'S REPLY TO LINCOLN INVESTORS OPPOSITION RE MOTION FOR APPROVAL OF SETTLEMENT WITH MCC US, INC.
On April 13, 2018, the Receiver filed his REPLY TO LINCOLN INVESTORS OPPOSITION TO RECEIVER'S MOTION FOR APPROVAL OF SETTLEMENT AGREEMENT WITH MCC US, INC. [Dkt. No. 226] with the court. The hearing for this motion has been calendared for April 30, 2018, at 1:30 pm.

ORDER RE: CONDITIONALLY GRANTING RECEIVER AUTHORITY TO ABANDON KISSIMMEE PROPERTY
On April 10, 2018, Judge Carney entered his ORDER RE: AMENDED STIPULATION CONDITIONALLY GRANTING: (1) RECEIVER AUTHORITY TO ABANDON KISSIMMEE PROPERTY; AND (2) LENDER RELIEF FROM LITIGATION STAY TO PURSUE FORECLOSURE [Dkt. No. 225] with the court.

RECEIVER’S MOTION TO SELL CITRUS HEIGHTS, WESTGATE SACRAMENTO AND CARMICHAEL PROPERTIES
On April 6, 2018, the Receiver filed his NOTICE OF MOTION AND MOTION OF RECEIVER, THOMAS A. SEAMAN, FOR ORDER APPROVING: (1) SALE OF CITRUS HEIGHTS PROPERTY, SACRAMENTO PROPERTY, AND CARMICHAEL PROPERTY; (2) OVERBID PROCEDURES; AND (3) REAL ESTATE BROKER COMMISSION; MEMORANDUM OF POINTS AND AUTHORITIES IN SUPPORT THEREOF [Dkt. No. 217], supported by his DECLARATION OF THOMAS A. SEAMAN IN SUPPORT OF RECEIVER'S MOTION FOR ORDER APPROVING: (1) SALE OF CITRUS HEIGHTS PROPERTY, SACRAMENTO PROPERTY, AND CARMICHAEL PROPERTY; (2) OVERBID PROCEDURES; AND (3) REAL ESTATE BROKER COMMISSION [Dkt. No. 217-1] and [PROPOSED] ORDER APPROVING: (1) SALE OF CITRUS HEIGHTS PROPERTY, SACRAMENTO PROPERTY, AND CARMICHAEL PROPERTY;(2) OVERBID PROCEDURES [Dkt. No. 217-2] with the court. The hearing for this motion has been calendared for May 21, 2018, at 1:30 pm.

RECEIVER’S MOTION FOR APPROVAL OF SETTLEMENT AGREEMENT WITH MCC US, INC.; TRANSFER OF LINCOLN RED ROCK PROPERTY
On March 27, 2018, the Receiver filed his NOTICE OF MOTION AND MOTION OF RECEIVER, THOMAS A. SEAMAN, FOR APPROVAL OF SETTLEMENT AGREEMENT WITH MCC US, INC.; TRANSFER OF LINCOLN RED ROCK PROPERTY; AND ANCILLARY RELIEF; MEMORANDUM OF POINTS AND AUTHORITIES IN SUPPORT THEREOF [Dkt. No. 213], supported by his DECLARATION OF THOMAS A. SEAMAN IN SUPPORT OF RECEIVER'S MOTION FOR APPROVAL OF SETTLEMENT AGREEMENT WITH MCC US, INC.; TRANSFER OF LINCOLN RED ROCK PROPERTY; AND ANCILLARY RELIEF [Dkt. No. 213-1] . The hearing for this motion has been calendared for April 30, 2018, at 1:30 pm.

ORDER CONTINUING HEARING RE SALE OF CALIFORNIA PROPERTIES TO MARCH 12
On February 23, 2018, Judge entered his ORDER CONTINUING HEARING ON RECEIVER’S MOTION FOR ORDER APPROVING SALE OF CALIFORNIA PROPERTIES [Dkt. No. 198] with the Court. The order continues the hearing to March 12, 2018, at 1:30 p.m.

THIRD INTERIM FEE APPLICATION OF THE RECEIVER; FEE APPLICATIONS OF RECEIVER'S ATTORNEYS
On February 23, 2018, the Receiver filed his THIRD INTERIM FEE APPLICATION OF THOMAS A. SEAMAN, COURT-APPOINTED RECEIVER, FOR PAYMENT OF FEES FOR AUGUST 1, 2017, THROUGH OCTOBER 31, 2017 [Dkt. No. 195]. From August 1, 2017, through October 31, 2017 (the "Third Application Period"), the Receiver and his agents spent 1,449.6 hours executing the duties set forth in the Preliminary Injunction Against All Defendants entered on January 23, 2017 ("PI Order"). The Receiver seeks approval of 100% of fees and approval to pay 90% of fees. The Receiver does not seek reimbursement of any expenses.

The Receiver's attorneys, Allen Matkins Leck Gamble Mallory & Natsis, also filed with the Court their THIRD INTERIM FEE APPLICATION OF ALLEN MATKINS LECK GAMBLE MALLORY & NATSIS, GENERAL COUNSEL TO THE RECEIVER, FOR PAYMENT OF FEES AND REIMBURSEMENT OF EXPENSES [AUGUST 1, 2017 – OCTOBER 31, 2017][Dkt. No. 196]. During the Third Application Period the attorneys worked 444.9 hours on behalf of the receivership estate and request the Court approve 100% of fees and expenses on an interim basis and an order authorizing the Receiver to pay, on an interim basis, 80% of fees incurred and 100% of expenses incurred.

Along with these applications the Receiver filed his NOTICE OF HEARING ON INTERIM FEE APPLICATIONS OF THE RECEIVER AND HIS PROFESSIONALS FOR PAYMENT OF FEES AND REIMBURSEMENT OF EXPENSES [Dkt. No. 197]. The hearing for these applications is calendared for 1:30 p.m., March 26, 2018.

RECEIVER'S FOURTH INTERIM REPORT AND RECOMMENDATIONS
On February 23, 2018, the Receiver filed his RECEIVER'S FOURTH INTERIM REPORT AND RECOMMENDATIONS [Dkt. No. 194] with the Court.

RECEIVER'S REPORT CONCERNING OVERBIDS RE FOUR CALIFORNIA PROPERTIES
On February 23, 2018, the Receiver filed his RECEIVER'S REPORT CONCERNING OVERBIDS RE: MOTION FOR ORDERS APPROVING: SALE OF CITRUS HEIGHTS PROPERTY, SACRAMENTO PROPERTY, LINCOLN RED ROCK PROPERTY, CARMICHAEL PROPERTY, AND REQUEST FOR CONTINUANCE [Dkt. No. 193]. The hearing for this motion has been calendared for February 26, 2018, at 1:30 pm.

RECEIVER'S OPPOSITION TO RICHARDSON FAMILY TRUST'S MOTION
On February 5, 2018, the Receiver filed his RECEIVER'S OPPOSITION TO RICHARDSON FAMILY TRUST'S MOTION FOR LEAVE OF COURT TO FILE A CIVIL ACTION AGAINST THE RECEIVER THOMAS A. SEAMAN IN CALIFORNIA SUPERIOR COURT [Dkt. No. 174]. The hearing for this motion has been calendared for February 26, 2018, at 1:30 pm.

RECEIVER'S MOTION TO PURSUE CLAIMS AGAINST NEIL RICHARDSON AND THE RICHARDSON FAMILY TRUST
On January 25, 2018, the Receiver filed his NOTICE OF MOTION AND MOTION FOR AUTHORITY TO PURSUE CLAIMS AGAINST NEIL RICHARDSON AND THE RICHARDSON FAMILY TRUST; MEMORANDUM OF POINTS AND AUTHORITIES [Dkt. No. 167], accompanied by his DECLARATION OF THOMAS A. SEAMAN IN SUPPORT OF MOTION FOR AUTHORITY TO PURSUE CLAIMS AGAINST NEIL RICHARDSON AND THE RICHARDSON FAMILY TRUST [Dkt. No. 167-1]. The hearing for this motion has been calendared for February 26, 2018, at 1:30 pm.

SECOND INTERIM FEE APPLICATION OF THE RECEIVER; FEE APPLICATIONS OF RECEIVER'S ATTORNEYS AND PROFESSIONALS
On December 18, 2017, the Receiver filed with the Court his SECOND INTERIM FEE APPLICATION OF THOMAS A. SEAMAN, COURT-APPOINTED RECEIVER, FOR PAYMENT OF FEES [MAY 1, 2017 THROUGH JULY 31, 2017] [Dkt. No. 145]. From May 1, 2017, through July 31, 2017 (the "Second Application Period"), the Receiver and his agents spent 932.1 hours executing the duties set forth in the Preliminary Injunction Against All Defendants entered on January 23, 2017 ("PI Order"). The Receiver seeks approval of 100% of fees and approval to pay 90% of fees. The Receiver does not seek reimbursement of any expenses.

The Receiver's attorneys, Allen Matkins Leck Gamble Mallory & Natsis, also filed with the Court their SECOND INTERIM FEE APPLICATION OF ALLEN MATKINS LECK GAMBLE MALLORY & NATSIS, GENERAL COUNSEL TO THE RECEIVER, FOR PAYMENT OF FEES AND REIMBURSEMENT OF EXPENSES [MAY 1, 2017 - JULY 31, 2017] [Dkt. No. 146]. During the Second Application Period the attorneys worked 372.0 hours on behalf of the receivership estate and request the Court approve 100% of fees and expenses on an interim basis and an order authorizing the Receiver to pay, on an interim basis, 80% of fees incurred and 100% of expenses incurred.

The Receiver's consultants, Berkeley Research Group, LLC, also filed with the Court their SECOND INTERIM FEE APPLICATION OF BERKELEY RESEARCH GROUP, LLC [Dkt. No. 147]. During May 1, 2017, through September 30, 2017 (the "Second Application Period"), the consultants worked 21.05 hours on behalf of the receivership estate and request the Court approve 100% of fees and expenses on an interim basis and an order authorizing the Receiver to pay, on an interim basis, 90% of fees and 100% of expenses incurred.

Along with these applications the Receiver filed his NOTICE OF HEARING ON INTERIM FEE APPLICATIONS OF THE RECEIVER AND HIS PROFESSIONALS FOR PAYMENT OF FEES AND REIMBURSEMENT OF EXPENSES [Dkt. No. 148]. The hearing for these applications is calendared for 1:30 p.m., January 29, 2018.

MOTION TO APPROVE THE SALE OF FOUR CALIFORNIA PROPERTIES
On January 16, 2018, the Receiver filed the following documents with the Court in support of his motion to sell the properties, collectively known as the "California Properties", located at 850 Red Rock Rd / 950 Red Rock Rd, Lincoln, CA, APN: 329-010-062, the "Lincoln Red Rock Property"; 7411 Fair Oaks Blvd, Carmichael, CA, APN: 258-0310-035, the "Carmichael Property"; 2305 Jefferson Blvd, West Sacramento, CA, APN: 046-010-050-000, the "Sacramento Property"; and 8220 Sunrise Blvd, Citrus Heights, CA, APN: 216-0090-012, the "Citrus Heights Property"; which are owned by the receivership entities SLALMC, LLC, SAL Carmichael, LLC, SAL Westgate, LLC and SAL Citrus Heights, LLC. The hearing date for this motion is February 26, 2018. The documents filed with the Court are as follows:

    The Receiver has published following notice of the sale in the Sacramento Bee, as required by law.

    NOTICE OF SALE AND REQUEST FOR OVERBIDS
    In the action pending in U.S. District Court for the Central District of California, Case No. SACV 16-02257-CJC (DFMx), Securities and Exchange Commission v. Emilio Francisco, PDC Capital Group, LLC, et al., notice is hereby given that the court-appointed receiver for SLALMC, LLC, SAL Carmichael, LLC, SAL Westgate, LLC and SAL Citrus Heights, LLC will seek confirmation of the sale of land located at 850 Red Rock Rd / 950 Red Rock Rd, Lincoln, CA, APN: 329-010-062; 7411 Fair Oaks Blvd, Carmichael, CA, APN: 258-0310-035; 2305 Jefferson Blvd, West Sacramento, CA, APN: 046-010-050-000; and 8220 Sunrise Blvd, Citrus Heights, CA, APN: 216-0090-012 for $8,400,000, subject to an overbid auction. The minimum bid price at the auction will be $8,800,000, with incremental bids of $50,000. The hearing to confirm the sale and the auction will take place on February 26, 2018, at 1:30 p.m. Pacific time in the courtroom of the Honorable Cormac J. Carney located at 411 W. Fourth St., Santa Ana, CA, 92701, Courtroom 9B, 9th Floor (or at such time and place as the Court directs). To qualify as bidder at the auction, prospective buyers must: 1) execute a non-contingent purchase and sale agreement, a copy of which may be obtained from the Receiver’s broker Howard Hamlin at (562) 537-5840 or by email at Howard@hamlingooding.com; 2) make a non-refundable earnest money deposit of $840,000, which is applicable to the sale price and refundable immediately to unsuccessful overbidders; and 3) provide proof of liquid funds sufficient to conclude the sale as soon as practicable following Court approval, but no later than March 19, 2018. All bidders must be qualified by 4:00 p.m. Pacific time on February 16, 2018, by submitting the foregoing to Thomas Seaman Company at 3 Park Plaza, Suite 550, Irvine, California, 92614.

SECOND INTERIM FEE APPLICATION OF THE RECEIVER; FEE APPLICATIONS OF RECEIVER'S ATTORNEYS AND PROFESSIONALS
On December 18, 2017, the Receiver filed with the Court his SECOND INTERIM FEE APPLICATION OF THOMAS A. SEAMAN, COURT-APPOINTED RECEIVER, FOR PAYMENT OF FEES [MAY 1, 2017 THROUGH JULY 31, 2017] [Dkt. No. 145]. From May 1, 2017, through July 31, 2017 (the "Second Application Period"), the Receiver and his agents spent 932.1 hours executing the duties set forth in the Preliminary Injunction Against All Defendants entered on January 23, 2017 ("PI Order"). The Receiver seeks approval of 100% of fees and approval to pay 90% of fees. The Receiver does not seek reimbursement of any expenses.

The Receiver's attorneys, Allen Matkins Leck Gamble Mallory & Natsis, also filed with the Court their SECOND INTERIM FEE APPLICATION OF ALLEN MATKINS LECK GAMBLE MALLORY & NATSIS, GENERAL COUNSEL TO THE RECEIVER, FOR PAYMENT OF FEES AND REIMBURSEMENT OF EXPENSES [MAY 1, 2017 - JULY 31, 2017] [Dkt. No. 146]. During the Second Application Period the attorneys worked 372.0 hours on behalf of the receivership estate and request the Court approve 100% of fees and expenses on an interim basis and an order authorizing the Receiver to pay, on an interim basis, 80% of fees incurred and 100% of expenses incurred.

The Receiver's consultants, Berkeley Research Group, LLC, also filed with the Court their SECOND INTERIM FEE APPLICATION OF BERKELEY RESEARCH GROUP, LLC [Dkt. No. 147]. During May 1, 2017, through September 30, 2017 (the "Second Application Period"), the consultants worked 21.05 hours on behalf of the receivership estate and request the Court approve 100% of fees and expenses on an interim basis and an order authorizing the Receiver to pay, on an interim basis, 90% of fees and 100% of expenses incurred.

Along with these applications the Receiver filed his NOTICE OF HEARING ON INTERIM FEE APPLICATIONS OF THE RECEIVER AND HIS PROFESSIONALS FOR PAYMENT OF FEES AND REIMBURSEMENT OF EXPENSES [Dkt. No. 148]. The hearing for these applications is calendared for 1:30 p.m., January 29, 2018.

RECEIVER'S THIRD INTERIM REPORT AND RECOMMENDATIONS
On December 14, 2017, the Receiver filed his RECEIVER'S THIRD INTERIM REPORT AND RECOMMENDATIONS [Dkt. No. 143] with the Court.

ORDER APPROVING SALE OF SARASOTA PROPERTY
On December 5, 2017, Judge Carney entered his ORDER APPROVING: (1) SALE OF SARASOTA PROPERTY; AND (2) OVERBID PROCEDURES [DKT. NO. 142]. The Sarasota property will be sold to The Glenridge on Palmer Ranch, Inc. and will close within sixty-five days of the entry of this order.

RECEIVER'S MOTION TO REQUIRE ERIC CHESS BRONK, ESQ. TO TURNOVER DOCUMENTS
On October 27, 2017, the Receiver filed his NOTICE OF MOTION AND MOTION FOR ORDER REQUIRING TURNOVER OF DOCUMENTS BY ERIC CHESS BRONK, ESQ. OR, IN THE ALTERNATIVE, FOR ORDER TO SHOW CAUSE RE: CIVIL CONTEMPT FOR FAILURE TO COMPLY WITH PRELIMINARY INJUNCTION (Re: Dkt. No. 36) [DKT. NO. 118], accompanied by his attorney's DECLARATION OF EDWARD G. FATES IN SUPPORT OF MOTION FOR ORDER REQUIRING TURNOVER OF DOCUMENTS BY ERIC CHESS BRONK, ESQ. OR, IN THE ALTERNATIVE, FOR ORDER TO SHOW CAUSE RE: CIVIL CONTEMPT FOR FAILURE TO COMPLY WITH PRELIMINARY INJUNCTION (Re: Dkt. No. 36) [DKT. NO. 118-1]. New!: On January 17, 2018, the hearing for this motion has been calendared for January 23, 2018, at 10:00 a.m.

MOTION TO APPROVE SALE OF SARASOTA PROPERTY
(Re-calendared to Dec. 4, 2017!)
On October 11, 2017, the Receiver filed the following documents with the Court in support of his motion to sell the property located at 5710 Draw Lane, Sarasota, FL which is owned by the receivership entities Summerplace at Sarasota, LP and Summerplace at Sarasota, LLC. The hearing date for this motion has been re-calendared for December 4, 2017. The documents filed with the Court are as follows:

    NOTICE OF SALE OF REAL ESTATE AND REQUEST FOR OVERBIDS
    Property located at 5710 Draw Lane, Sarasota, Sarasota County, Florida (owned by Summerplace at Sarasota, LP and Summerplace at Sarasota, LLC)

    In the action pending in U.S. District Court for the Central District of California, Case No. SACV 16-02257-CJC (DFMx), Securities and Exchange Commission v. Emilio Francisco, PDC Capital Group, LLC, et al., notice is hereby given that the court-appointed receiver for Summerplace at Sarasota, LP and Summerplace at Sarasota, LLC will seek confirmation of the sale of land located at 5710 Draw Lane, Sarasota, Sarasota County, Florida for $1,425,000, subject to an overbid auction. The minimum bid price at the auction will be $1,525,000, with incremental bids of $15,000. The hearing to confirm the sale and the auction will take place on December 4, 2017, at 1:30 p.m. Pacific Time in the courtroom of the Honorable Cormac J. Carney located at 411 W. Fourth St., Santa Ana, CA, 92701, Courtroom 9B, 9th Floor (or at such time and place as the Court directs.) To qualify as a bidder at the auction, prospective buyers must: 1) execute a non-contingent purchase and sale agreement, a copy of which may be obtained from the Receiver's broker Marcus & Millichap, attention Krone Weidler at (813) 387-4767 or Krone.Weidler@marcusmillichap.com, or Louis Tsunis at (813) 387-4777 or Louis.Tsunis@marcusmillichap.com; 2) make a non-refundable earnest money deposit of $150,000, which is applicable to the sale price and refundable immediately to unsuccessful overbidders; and 3) provide proof of liquid funds sufficient to conclude the sale as soon as practicable following Court approval on or about December 4, 2017. All bidders must be qualified by 4:00 p.m. Pacific Time on November 22, 2017, by submitting the foregoing to Thomas Seaman Company at 3 Park Plaza, Suite 550, Irvine, California, 92614.

FIRST INTERIM FEE APPLICATION OF THE RECEIVER; FEE APPLICATIONS OF RECEIVER'S ATTORNEYS AND PROFESSIONALS
On August 25, 2017, the Receiver filed with the Court his FIRST INTERIM FEE APPLICATION OF THOMAS A. SEAMAN, COURT-APPOINTED RECEIVER, FOR PAYMENT OF FEES [Dkt. No. 103]. From January 5, 2017, through April 30, 2017 (the "First Application Period"), the Receiver and his agents spent 1,520.5 hours executing the duties set forth in the Temporary Restraining Order entered on January 5, 2017 ("TRO"). The Receiver seeks approval of 100% of fees and approval to pay 90% of fees. The Receiver does not seek reimbursement of any expenses.

The Receiver's attorneys, Allen Matkins Leck Gamble Mallory & Natsis, also filed with the Court their FIRST INTERIM FEE APPLICATION OF ALLEN MATKINS LECK GAMBLE MALLORY & NATSIS, GENERAL COUNSEL TO THE RECEIVER, FOR PAYMENT OF FEES AND REIMBURSEMENT OF EXPENSES [Dkt. No. 104]. During the First Application Period the attorneys worked 678.2 hours on behalf of the receivership estate and request the Court approve 100% of fees and expenses on an interim basis and an order authorizing the Receiver to pay, on an interim basis, 80% of fees incurred and 100% of expenses incurred.

The Receiver's consultants, Berkeley Research Group, LLC, also filed with the Court their FIRST INTERIM FEE APPLICATION OF BERKELEY RESEARCH GROUP, LLC [Dkt. No. 105]. During January 1, 2017, through April 30, 2017 (the "First Application Period"), the consultants worked 117.2 hours on behalf of the receivership estate and request the Court approve 100% of fees and expenses on an interim basis and an order authorizing the Receiver to pay, on an interim basis, 90% of fees and 100% of expenses incurred.

Along with these applications the Receiver filed his NOTICE OF HEARING ON INTERIM FEE APPLICATIONS OF THE RECEIVER AND HIS PROFESSIONALS FOR PAYMENT OF FEES AND REIMBURSEMENT OF EXPENSES [Dkt. No. 106]. The hearing for these applications is calendared for 1:30 p.m., October 2, 2017.

ORDER AUTHORIZING THE RECEIVER TO MARKET RECEIVERSHIP ASSETS
On August 23, 2017, Judge Carney entered his ORDER GRANTING RECEIVER'S MOTION FOR ORDER AUTHORIZING THE RECEIVER TO MARKET RECEIVERSHIP ASSETS FOR SALE, ESTABLISH SALE PROCEDURES AND ENGAGE BROKERS [Dkt. No. 269].

RECEIVER'S REPLY TO OPPOSITION TO RECEIVER'S MOTION FOR ORDER AUTHORIZING THE RECEIVER TO MARKET RECEIVERSHIP ASSETS
On July 28, 2017, the Receiver filed his RECEIVER'S REPLY TO DEFENDANTS EMILIO FRANCISCO, MCC US, INC. AND LINCOLN INVESTORS' OPPOSITION TO RECEIVER'S MOTION FOR ORDER AUTHORIZING THE RECEIVER TO MARKET RECEIVERSHIP ASSETS FOR SALE, ESTABLISH SALE PROCEDURES AND ENGAGE BROKERS [Dkt. No. 93]. The motion is calendared for August 14, 2017, at 1:30 pm.

RECEIVER'S OPPOSITION TO MCC U.S. INC.'S MOTION FOR ORDERS AND RELIEF FROM STAY
On July 24, 2017, the Receiver filed his RECEIVER'S OPPOSITION TO MCC U.S. INC.'S MOTION FOR ORDERS AND RELIEF FROM STAY [Dkt. No. 88] and DECLARATION OF THOMAS A. SEAMAN IN SUPPORT OF RECEIVER'S OPPOSITION TO MCC U.S. INC.'S MOTION FOR ORDERS AND RELIEF FROM STAY [Dkt. No. 89]. The motion is calendared for August 14, 2017, at 1:30 pm.

MOTION TO MARKET RECEIVERSHIP ASSETS
On July 7, 2017, the Receiver filed his NOTICE OF MOTION AND MOTION OF RECEIVER, FOR ORDER AUTHORIZING THE RECEIVER TO MARKET RECEIVERSHIP ASSETS FOR SALE, ESTABLISH SALE PROCEDURES AND ENGAGE BROKERS [Dkt. No. 81]. The motion is calendared for August 14, 2017, at 1:30 pm.

RECEIVER'S SECOND INTERIM REPORT AND RECOMMENDATIONS
On June 7, 2017, the Receiver filed his RECEIVER'S SECOND INTERIM REPORT AND RECOMMENDATIONS AS OF MAY 31, 2017 [Dkt. No. 68] with the Court.

RECEIVER'S INVESTOR LETTER
On April 14, 2017, the Receiver published his RECEIVER'S INVESTOR LETTER. Topics covered are the status of the Caffe Primo and assisted living projects. The Receiver will continue to provide updates on the Receiver's PDC website as information becomes available or transactions are proposed that impact the projects. The Receiver will also prepare reports to the District Court with recommendations as to how to proceed with each of the projects. (This letter has now been translated into Chinese and posted on the Chinese home page of this site.)

PRELIMINARY INJUNCTION AGAINST ALL DEFENDANTS
On January 23, 2017, Judge Carney entered his PRELIMINARY INJUNCTION AGAINST ALL DEFENDANTS [Dkt. No. 36] (the "PI"). The PI continued the freeze of assets, enjoined the Defendants from the sale of securities, prohibited any destruction of assets by the Defendants. The PI also appointed Thomas Seaman as Permanent Receiver and ordered him to continue to marshal assets and make an accounting to the Court and the SEC of the assets and financial condition of the Defendants.

TEMPORARY RECEIVER'S FIRST REPORT AND RECOMMENDATIONS
On January 20, 2017, the Receiver filed his TEMPORARY RECEIVER'S FIRST REPORT AND RECOMMENDATIONS [Dkt. No. 32] with the Court.

COMPLAINT AND INITIAL SUMMARY OF CASE
This web site has been established to foster efficient communications between investors and creditors of PDC CAPITAL GROUP, LLC, et al (the "Companies") and Thomas Seaman, who is serving as its permanent receiver. Mr. Seaman was appointed on January 5, 2017, in an SEC enforcement action known as Securities Exchange Commission (the "SEC" or "Plaintiff") vs. Emilio Francisco; PDC Capital Group, LLC; Caffe Primo International, Inc.; SAL Assisted Living, LP; SAL Carmichael, LP; SAL Citrus Heights, LP; SAL Kern Canyon, LP; SAL Phoenix, LP; SAL Westgate, LP; Summerplace At Sarasota, LP; Summerplace At Clearwater, LP; Summerplace At Correll Palms, LP; TRC Tucson, LP; Clear Currents West, LP; Caffe Primo Management, LP; Caffe Primo Management 102, LP; Caffe Primo Management 103, LP; Caffe Primo Management 104, LP; Caffe Primo Management 105, LP; Caffe Primo Management 106, LP; Caffe Primo Management 107, LP; and Caffe Primo Management 108, LP, et al (collectively, the "Defendants"), Case No. SACV 16-02257-CJC(DFMx) in the United States District Court, Central District of California, Southern Division. The case is heard before the Honorable Cormac J. Carney.

The SEC has alleged in their COMPLAINT [Dkt. No. 1] that the Defendants have engaged in transactions, acts, practices and courses of business that constitute violations of Section 17(a) of the Securities Act, 15 U.S.C. § 77q(a); Section 10(b) of the Exchange Act, 15 U.S.C. § 78j(b); and Rule 10b-5 thereunder, 17 C.F.R. § 240.10b-5. On January 5, 2017, Judge Cormac Carney ordered that the assets of Defendants and their subsidiaries and affiliates be frozen and issued a TEMPORARY RESTRAINING ORDER [Dkt. No. 17] (the "TRO"). The TRO restrains and enjoins the Defendants from violations of the securities laws and orders them to provide an accounting of their assets. The TRO also appointed Thomas A. Seaman as Receiver.

SEC vs. Emilio Francisco, PDC Capital Group, LLC, et al