Case 2:19-cv-05299-VAP-JPR Document 203 Filed 08/02/22 Page 1 of 2 Page ID #:3974

UNITED STATES DISTRICT COURT

CENTRAL DISTRICT OF CALIFORNIA
CIVIL MINUTES – GENERAL

Case
2:19-cv-05299-VAP-(JPRx) Date August 2, 2022
No.
Title Ocean Thermal Energy Corp. v. C. Robert Coe, III et al.

Present: The Honorable VIRGINIA A. PHILLIPS, UNITED STATES DISTRICT JUDGE

WENDY HERNANDEZ Not Reported

Deputy Clerk Court Reporter

Attorney(s) Present for Plaintiff(s): Attorney(s) Present for Defendant(s):

None Present None Present

Proceedings: MINUTE ORDER GRANTING MOTION FOR ORDER AUTHORIZING

RECEIVER TO ENTER INTO AGREEMENT [DOC. NO. 194] (IN
CHAMBERS)

Successor Receiver Blake C. Alsbrook (“Receiver”) filed a “Motion for

Order Authorizing Receiver to Enter into Agreement Re Marketing and Sale of
Receivership Estate Property” (“Motion”) on July 8, 2022. (Doc. No. 194.)
Sterling Financial & Realty Group, Inc. (“Sterling”), secured creditor of
Defendants Trade Base Sales, Inc., Migration Partners, LLC and Brett Regal
(collectively, the “Regal Parties”) filed non-opposition on July 25, 2022. (Doc. No.
202.) The Court finds this matter is appropriate for resolution without oral
argument pursuant to Local Rule 7-15 and VACATES the hearing set on August
15, 2022. The Court GRANTS the Motion for the following reasons:

Receiver seeks to sell the gemstones knows as the Ophir Collection to

SwagCheck, Inc. (“SwagCheck”), a Non-Fungible Token (“NFT”) marketing
group. (Motion at 5; Ex. 2, Declaration of Blake C. Albrook.) Receiver has been
unsuccessful in marketing and selling the Ophir Collection to a potential buyer for
years. (Id. at 4-5.) The Court thus finds that the sale of the Ophir Collection to

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SwagCheck is in the best interest of the estate. See SEC v. Am. Cap. Invs., Inc.,
98 F.3d 1133, 1144 (9th Cir. 1996), abrogated on other grounds by Steel Co. v.
Citizens for a Better Env’t, 523 U.S. 83, 93-94 (1998) (“district court has broad
powers and wide discretion to determine the appropriate relief in an equity
receivership”) (internal quotations and citation omitted).

Accordingly, the Court GRANTS the Motion, and the Receiver is

authorized to enter into, and to take any and all necessary steps to effectuate,
the Proposed Purchase and Sale Agreement described in Exhibit 2 of the
Declaration of Blake C. Alsbrook. (Doc. No. 194-3.)

IT IS SO ORDERED.

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