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SEC v. Champion-Cain, ANI Development, LLC, et al

Case Summary

On September 3, 2019, Krista Freitag was appointed as receiver of ANI DEVELOPMENT, LLC, AMERICAN NATIONAL INVESTMENTS, INC., and their subsidiaries and affiliates pursuant to an Order entered by the United States District Court for the Southern District of California in an action filed by the Securities and Exchange Commission.

11/01/2023 UPDATE:  The First Interim Distribution process has been completed and all payments associated therewith negotiated. We encourage you to follow the quarterly updates, the Sixteenth Interim Report being the last update posted (the Seventeenth Interim Report will be forthcoming in the next few weeks). While the timing is unknown, once the few remaining litigation matters and pending appeals are resolved, the Receiver anticipates filing a motion for authority to make a final distribution of receivership estate funds to investors and creditors with allowed claims.

04/24/2023 UPDATE:  The Ninth Circuit denied the Peterson Parties’ motion to prevent  (or “stay”) distributions from the receivership from being made to investors while the Peterson Parties pursue their appeal, a copy of the order can be found below.

04/21/2023 UPDATE:  On March 13, 2023, Kim Peterson, Kim Funding, LLC and ABC Funding Strategies, LLC (“Peterson Parties”) filed a motion in the District Court seeking to stay (or prevent) distributions to investors and creditors from the receivership estate while the Peterson Parties pursue their appeal of the District Court’s denial of their claims in the receivership.  The Receiver opposed the motion. On April 10, 2023, the District Court denied the motion, but granted a short-term stay until April 24, 2023, so the Peterson Parties could seek a stay from the Ninth Circuit Court of Appeals. On April 17, 2023, the Peterson Parties filed an emergency motion seeking a stay from the Ninth Circuit Court of Appeals. The Peterson Parties’ emergency motion, the Receiver’s opposition thereto, and Peterson Parties’ reply are available below.

04/11/2023 UPDATE:  The following Notice of Interim Distribution has been filed in accordance with the Court-approved Distribution Plan:

04/06/2023 UPDATE:  The following Notice of Allowed Claim Adjustments has been filed in accordance with Court-approved Distribution Plan:

02/24/2023 UPDATE: The Court held the hearing on August 31, 2022, at 11:30 AM on the two motions associated with the Notice posted below regarding the proposed settlement with Chicago Title, investor and creditor claims against the receivership estate, and a proposed plan for distributing receivership estate funds.

Complete copies of the motions and supporting documents are posted immediately below. On 02/24/2023, the Court issued an Order approving the Receiver’s recommended treatment of claims and proposed plan for distributing receivership estate funds – see below for a copy of said order dated 02/24/2023. On 11/22/2022, the Court also issued an Order approving the proposed settlement with Chicago Title – see below for a copy of said order dated 11/22/2022. The Receiver encourages all Allowed Claimants to thoroughly review the Notice of Interim Distribution posted above.

Frequently Asked Questions

Why aren’t all the court documents on the receivership website?

The receivership website is intended to provide relevant information for investors about the receivership, but it is not a duplicate of the District Court’s electronic docket system. If investors want to review pleadings and orders as they are filed with the District Court, they can obtain a PACER login and password from the District Court.

Court Filings

Filings listed in the sections below link to PDF documents.

2019 Court Filings

2020 Court Filings

2021 Court Filings

2022 Court Filings

2023 Court Filings