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Suggestion of Stay Due To Receivership of Plaintiff Inter Travel & Services, Inc
Suggestion of Stay Due To Receivership of Plaintiff Inter Travel & Services, Inc
(collectively “Learjet Defendants”) and give notice to the Court and the parties hereto of
the following:
(“SEC”) filed a complaint in the United States District Court for the Central District of
Management Group, LLC, (collectively, “PEM Group”) and Danny Pang (“Pang”), Case
No. 2:09-cv-02901-PSG, in which the SEC alleged violations of various federal securities
laws.
2. On April 27, 2009, the district court issued a Temporary Restraining Order
appointing a receiver and imposing various restrictions on the PEM Group and Pang, and
“their affiliates and subsidiaries,” immediately freezing all assets in whatever form such
may exist, and restraining and enjoining “all other persons or entities seeking relief of
3:09-cv-00210-MJP Date Filed 07/17/09 Entry Number 45 Page 2 of 4
any kind, in law or equity” from “commencing, prosecuting, continuing or enforcing any
suit or proceeding” against them. The court further appointed Mosier & Company, Inc.
as temporary receiver of the PEM Group, “and their subsidiaries and affiliates, with full
powers of an equity receiver, including, but not limited to, full power over all funds,
assets, collateral, … choses in action, books, records, papers and other real or personal
property ….” Temporary Restraining Order, etc., attached hereto as Exhibit “A.”
3. On June 15, 2009, the SEC filed an amended complaint against the PEM
Group and Pang alleging, among other things, that Inter Travel & Services, Inc.
(“ITAS”), Plaintiff herein, is “an entity controlled by Pang and PEM Group.” First
the PEM Group and Pang, appointing Robert P. Mosier (“Receiver”) as permanent
receiver of the PEM Group “and their subsidiaries and affiliates, with full power of an
equity receiver, including, but not limited to, full power over all funds, assets, collateral,
… choses in action, books, records, papers and other real or personal property …” and
restraining and enjoining “all other persons or entities seeking relief of any kind, in law
Preliminary Injunction Affecting Defendant Inter Travel & Services, Inc. (“Notice of
Receivership”) in the cases of Travis Barker, et al. v. Clay Lacy Aviation, Inc., et al. and
related cases, Case Nos. BC 402529, BC 403556, and BC 404449, Superior Court of the
State of California for the County of Los Angeles (“California Case”). A copy of the
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3:09-cv-00210-MJP Date Filed 07/17/09 Entry Number 45 Page 3 of 4
affiliate of the PEM Group, ITAS has notified the court in the California Case that it is
subject to the Preliminary Injunction, that the Preliminary Injunction enjoins the
California Case, and that, with respect to discovery, ITAS it is not allowed to produce
any documents in that action without the express consent of the Receiver or the district
7. The Learjet Defendants are unaware of any attempt by ITAS to obtain the
consent of the Receiver or the district court in California to proceed with the instant
action, and respectfully suggest that this action is likewise subject to the Preliminary
s/ Daniel J. Ballou
Daniel J. Ballou
Fed. I.D. 6125
HAMILTON MARTENS BALLOU & SIPE, LLC
P.O. Box 10940
Rock Hill, SC 29730
dballou@hmandb.com
(803) 329-7672
and
L. Richard Musat
Treece, Alfrey, Musat & Bosworth, P.C.
999 18th Street, Suite 1600
Denver, CO 80202
lrmusat@tamblaw.com
(303) 292-2700
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3:09-cv-00210-MJP Date Filed 07/17/09 Entry Number 45 Page 4 of 4
CERTIFICATE OF SERVICE
John T Lay
Ellis Lawhorne and Sims
1501 Main Street
Fifth Floor
Columbia, SC 29201
Christopher J. Daniels
Nelson Mullins Riley and Scarborough
PO Box 11070
Columbia, SC 29211
Michael Pauley
Lide and Pauley
5179 Sunset Boulevard
Lexington, SC 29072
John Hodge
Haynsworth Sinkler Boyd
PO Box 11889
Columbia, SC 29211-1889
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