SEC v. John V. Bivona, Saddle River Advisors, LLC, et al.
Civil Action No. 16-cv-01386-EMC (N.D. Cal.)
On March 22, 2016, the SEC filed a complaint against John V. Bivona; Saddle River Advisors, LLC; SRA Management Associates; and Frank G. Mazzola as Defendants; and SRA I LLC; SRA II LLC; SRA III LLC; Felix Investments, LLC; Michele J. Mazzola; Anne Bivona; Clear Sailing Group IV LLC; and Clear Sailing Group V LLC as Relief Defendants. Shortly thereafter, Sherwood Partners Inc. was appointed the Independent Monitor. On October 11, 2016, Sherwood Partners Inc. was appointed the Receiver for SRA Management Associates, LLC; SRA I LLC; SRA II LLC; SRA III LLC; Clear Sailing Group IV LLC; and Clear Sailing Group V LLC and affiliated entities NYPA Fund I LLC, NYPA II Fund LLC and NYPA Management Associates LLC and Felix Multi-Opportunity Funds (“FMOF”) I and II, LLC and FMOF Management Associates, LLC. On June 27, 2019, the Solis Associates Fund LLC was added as a receivership entity (collectively the “Receivership Entities”).
Pursuant to the Revised Order Appointing Receiver entered by the District Court on February 28, 2019, Kathy Bazoian Phelps was appointed as successor receiver over the Receivership Entities.
On February 19, 2020, the Court approved a briefing and hearing schedule on Receiver’s Motion for Final Approval of Distribution Plan, Related Claims Objections and Procedures Re Selection of Investment Advisory Committee. The hearing on the Distribution Plan and related matters is scheduled to be heard on April 7, 2020, any opposition or objections to the proposed Distribution Plan must be filed in writing with the Court by March 16, 2020. The proposed Distribution Plan, the briefing and hearing schedule, and additional documents and information can be found on the Successor Receiver’s website: http://www.diamondmccarthy.com/saddleriverreceiver