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Non-Tech : Auric Goldfinger's Short List -- Ignore unavailable to you. Want to Upgrade?

To: StockDung who wrote (14897)	4/20/2005 10:09:36 PM
From: SEC-ond-chance	Read Replies (1) \| Respond to of 19428

UPDATE ON STERLING ACS and their Discovery "Rope-a-Dope" On March 8, 2005, Magistrate Donio held a phone conference concerning the objection filed by the Sterling Group to the Receiver’s Motion for Authority to Make an Interim Distribution. The Magistrate ordered the Receiver and the Commission to send a letter to the Sterling Group’s counsel setting forth their outstanding information requests to the Sterling Group by March 14 and the Sterling Group to send a reply to the Receiver and the Commission by March 21. The Magistrate set a further status on this process on April 8 and set a hearing on Sterling’s objections for April 20 and 21. On March 11, 2005, the Receiver filed a Statement which outlined the categories of objections to his proposed interim distribution and discusses those that have disputed issues of fact. Some of the objections that concern disputed issues of fact may be resolved by stipulation between the Receiver and the investor or party who filed the objection. Others may require an evidentiary hearing. Such hearings will be set by Magistrate Donio after the Receiver reports back to the Court. On March 31, 2005, the Receiver filed an objection to those claims which appear on the Disputed Claims list. The Commission also filed an objection to the Sterling Group’s claims based on their failure to comply with the Commission’s discovery requests. On April 8, 2005, Magistrate Donio held a phone conference to determine the outstanding discovery issues that the Receiver and the Commission have with the Sterling Group preparatory to an evidentiary hearing on their claims. At that conference the Magistrate ordered that any motions regarding discovery from the Sterling Entities shall be raised by way of formal motion no later than April 22, 2005. Any objections and responses thereto shall be served no later than April 29, 2005. A hearing in connection with the objections and discovery issues related to the Sterling Entities will be held on May 13, 2005 beginning at 10 a.m. in Courtroom 3B in the Mitchell Cohen Courthouse, Camden, New Jersey.