A sale will eliminate substantial ongoing expenses. This class action lawsuit was filed on 01/25/2022 in Orange County Superior Court. re Receiver's Motion to Approve Sale of Galileo Project Land (Mar. In 1977, the company settled, and was ordered to pay what was, at the time, the largest consumer refund in the history of the FTC. The owners of the 30,000-acre Silver Saddle Ranch & Club, about a dozen miles north of the downtown here in a remote corner of this remote city, are touting the open spaces of the high desert as a . The trial date in this case remains the same, September 16, 2022. The case status is Pending - Other Pending. Both purchases needed to be approved by the Court before they could proceed. Silver Saddle sale approved | News | desertnews.com Heres How To Start Your Search, Emmery Muoz, 14, Was Killed In LA 17 Years Ago. Importantly, the Receiver intends to request the Court authorize that the Galileo lands be conveyed with a clear title and free of the Galileo investors fractional interests. 60 Years Of Deception And Land Sales In California City: 7 - LAist Help us provide credible local journalism and timely NPR reporting to our entire community. The Defendants named in the Complaint are: Silver Saddle Commercial Development, LP; Silver Saddle Ranch & Club, Inc.; The Galileo Commercial Property Owners Association, Inc.; Thomas M. Maney; and. However, the sales pavilion, parking, and other related improvements are located on a 24-acre parcel is owned by the City of California City and leased to Silver Saddle Resort and Club which expires April 17, 2027. The Receiver has received several inquiries concerning W-2s from former employees. Melinda Cerda Et Al Vs Silver Saddle Ranch & Club Inc Et Al Lets assume Investor A invests $200, Investor B invests $500, and Investor C invests $300 for a total of $1,000 invested. The Court granted the Receivers request on June 11, 2021. A photo of Nat Mendelsohn, the founder of California City, on the cover of the 1961 annual report to property owners. Each investor will, however, receive a part of the proceeds from the sale proportionate to the money he or she paid for the property, as described in the recently distributed Claim Determination letters. In July, the receiver eventually accepted an offer from Kevin Feterik, who had partnered with local businessman Leland Krelle, for $1.77 million. At all relevant times, efendant d the Galileo Association was a California non-profit corporation with a business address of 7635 North San Fernando Road, Suite A, Burbank, California On September 24, 2019, the San Diego Superior Court issued a Temporary Restraining Order (TRO) with asset freeze and appointment of a Receiver over the Receivership Defendants (Silver Saddle Commercial Development, LP; Silver Saddle Ranch & Club, Inc.; The Galileo Commercial Property Owners Association, Inc., as well as any other entity that has conducted any business related to Defendants offering and selling of the Galileo Project investment contracts).
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