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.

05/7/2023 UPDATE:  If you are a holder of an allowed claim and had an amount in the Interim Distribution Amount column on Exhibit A to the Receiver’s Notice of Interim Distribution (posted below), your payment is in the mail. We encourage each of you to negotiate the payment as soon as possible as the checks will be voided if not negotiated within 90 days of the date thereon.

04/24/2023 UPDATE:  The Ninth Circuit has denied the Peterson Parties’ motion for a stay pending appeal, a copy of the order can be found below.

• 04/24/2023 – United States Court of Appeals for the Ninth Circuit Order (Denying Peterson Parties’ Emergency Motion for a Stay)

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 delay) 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.

• 04/17/2023 – Appellants’ Motion for a Stay of the Distribution Order Pending Appeal, Emergency Motion under Circuit Rule 27-3, Relief Needed by April 24, 2023
• 04/20/2023 – [Receiver’s] Response in Opposition to Appellants’ Emergency Motion for a Stay of the Distribution Order Pending Appeal
• 04/21/2023 – Appellants’ Reply in Support of Emergency Motion for a Stay of the Distribution Order Pending Appeal

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

• 04/11/2023 – Notice of Interim Distribution

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

• 04/06/2023 – Notice of Allowed Claim Adjustments

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.

• Notice
• Receiver’s Notice of Motion and Motion for Approval of Settlement Agreement with Chicago Title Company and Chicago Title Insurance Company
  • Memorandum of Points and Authorities in Support of Receiver’s Motion for Approval of Settlement Agreement with Chicago Title Company and Chicago Title Insurance Company
  • Declaration of Krista L. Freitag in Support of Receiver’s Motion for Approval of Settlement Agreement with Chicago Title Company and Chicago Title Insurance Company
  • Request for Judicial Notice in Support of Receiver’s Motion for Approval of Settlement Agreement with Chicago Title Company and Chicago Title Insurance Company
  • 11/22/2022 – Order: 1) Approving Global Settlement [Dkt. 795, 796], and 2) Entering Chicago Title Bar Order
• Notice of Motion and Motion for Order: (1) Approving Receiver’s Recommended Treatment of Claims (Allowed, Disallowed, Disputed); (2) Approving Distribution Methodology; and (3) Approving Proposed Distribution Plan
  • Memorandum of Points and Authorities in Support of Motion for Order: (1) Approving Receiver’s Recommended Treatment of Claims (Allowed, Disallowed, Disputed); (2) Approving Distribution Methodology; and (3) Approving Proposed Distribution Plan
  • Declaration of Krista L. Freitag in Support of Motion for Order: (1) Approving Receiver’s Recommended Treatment of Claims (Allowed, Disallowed, Disputed); (2) Approving Distribution Methodology; and (3) Approving Proposed Distribution Plan
  • 02/24/2023 – Order 1) Approving Receiver’s Recommended Treatment of Claims (Allowed, Disallowed, Disputed), [Dkt 807-12, 807-15, 853-3]; 2) Approving Distribution Methodology, [Dkt. 807]; 3) Approving Proposed Distribution Plan, [Dkt. 807]; and 4) Granting Leave to File Excess Pages, [Dkt. 806]

Court Filings

Filings listed in the sections below link to PDF documents.