Omnibus Order
On May 23, 2019, the Court granted an order (“Omnibus Order”):
approving the Trustee transaction process, as described in detail in the Seventh Report;
directing the Trustee to distribute $372,650 to the Original Victoria Medical Investors and $301,086 to the Hybrid Victoria Medical Investors to equalize payments previously made to Victoria Medical Investors;
approving the execution of a Bayview Direction, related to a project administered by Derek Sorrenti (“Sorrenti”);
compelling the production of documents, records and information related to certain projects transferred by Sorrenti to BDMC and to otherwise comply with the Appointment Order;
compelling production of information by the borrower on the Treehouse Project and the borrower on the Lake and East Project, respectively, sufficient to satisfy their respective reporting obligations to the Trustee and to otherwise comply with the terms of the Appointment Order; and
approving the Trustee’s Fourth Report, Fifth Report, Sixth Report and Seventh Report, as well as the Trustee’s activities, fees and disbursements, including the fees and disbursements of its counsel, for the period from October 1, 2018 to March 31, 2019.
The Court also granted a further order (“Land Registry Direction Order”) allowing the Trustee to remove orders previously registered on title of certain properties, subject to the Trustee filing the appropriate Trustee’s certificates.
A copy of the Omnibus Order and the Land Registry Direction Order as well as the related endorsement is provided below.
