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CAUSE NO. 342-260306-12
CONTINENTAL EAST FUND IV, LLC, § IN THE DISTRICT COURT OF
§
Plaintiff, §
§
v. § TARRANT COUNTY, TEXAS
§
DONALD RAY CROCKETT, a!k/a §
RAY CROCKETT, §
§
Defendant. § 342ND JUDICIAL DISTRICT
ORDER PENDING RESOLUTION OF TEMPORARY INJUNCTION
On June 5, 2015, Donald Ray Crockett aka Ray Crockett (hereinafter "Crockett") and
Crockett 39 Family Partners, Ltd., a Texas limited partnership, (hereinafter "C39") filed their
Application for Temporary Restraining Order and Injunctive Relief and Motion for Sanctions
(hereinafter "Application"). On June 5, 2015, the Court set a hearing on Crockett and C39's
Application and, specifically, their request for a temporary injunction to be held on June 15,
2015 at 9:00a.m. (hereinafter "TI Hearing").
Before the Court, the parties addressed and discussed the Order for Delivery of Property
After Further Briefing and Hearing Following Examination [C.C.P. §708.205] (hereinafter
"Order") entered in Case No. RIC 527384, pending in the Superior Court of the State of
California for the County of Riverside.
The Order provides in pertinent part that "all assets in the Merrill Lynch Pierce Fenner &
Smith [Merrill Lynch] accounts ending in #7359 and #2446 shall be forthwith liquidated and all
net proceeds therefrom shall be immediately turned over to CEF IV's [Continental East Fund IV,
LLC] counsel by wire transfer as per instructions supplied by CEF IV and that Merrill Lynch
shall provide an accounting to both Floratos, Loll & Devine, PC (Continental's counsel) and
Gordon & Rees, LLP (Donald Ray Crockett's counsel)." The Order has been appealed by a
Oi'J-&l.~tt ALL SERVED VlA:.
O~ffs~nutrON OF TEMPORARY INJUNCTION -~·' 1
,.ER~¥ PAGEl
~An'l4..t.Ltuc. f~,.,A...U
oJ
-LL. I
FAX 1"\u..... ; _ c/-~~
Transaction# 451 .1--
:::·_: ., ~M""""'I , 11.. dO IS TO
' . .:RVE. COPIES ON ALL OTHERS
Petition for Writ of Mandate to the Court of Appeals for the State of California, Fourth Appellate
District, Division 2 (hereinafter "Mandate Petition"). As a part of the Mandate Petition, a stay of
the Order is requested and, specifically, any requirement that Merrill Lynch liquidate and
turnover funds.
Crockett and C39 announced that they were ready to proceed with the TI Hearing. Over
Crockett and C39's objection, the Court is of the opinion that the TI Hearing will not be held
until the resolution of the Mandate Petition. The Court is also of the opinion that the funds on
deposit with Merrill Lynch should be protected pending this Court's further consideration. Over
Crockett and C39's objection, the Court is of the further opinion, subject to ruling on the stay
requested in California, that the proceeds should be paid into a separately created interest bearing
lawyer's trust fund at Floratos, Loll & Devine, PC and shall not be dispersed without further
order of this Court. Thus, neither Continental East Fund IV, LLC (hereinafter "Continental") nor
any other individual or entity shall have access to or receive distribution of such funds absent
further court order.
THEREFORE, it is ORDERED, ADJUDGED and DECREED that in the event the Order
is enforced and Merrill Lynch turns over accounts #7359 and #2446 to Continental, Floratos,
Loll & Devine, PC will deposit those funds in a separately created interest bearing lawyer's trust
account. Floratos, Loll & Devine, PC shall not disperse or provide access to Continental or any
other entity or individual to any of these funds without further orders of this Court.
IT IS FURTHER ORDERED, ADJUDGED and DECREED, that William Floratos of
Floratos, Loll & Devine PC will notify this Court and all counsel of the receipt of the funds, the
amount received, provide the account number for the account created, provide the name of the
financial institution holding such funds, and provide the monthly account statements to the Court
and all counsel.
ORDER PENDING RESOLUTION OF TEMPORARY L"!JUNCTION PAGE2
...
Signed this f4~ay of June, 2015.
Judge Wade Birdwell
ORDER PENDING RESOLUfiON OF TEMPORARY INJUNCTION PAGE3
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CAUSE NO. 342-260306-12 CONTINENTAL EAST FUND IV, LLC, § IN THE DISTRICT COURT OF § Plaintiff, § § v. § TARRANT COUNTY, TEXAS § DONALD RAY CROCKETT, a!k/a § RAY CROCKETT, § § Defendant. § 342ND JUDICIAL DISTRICT ORDER PENDING RESOLUTION OF TEMPORARY INJUNCTION On June 5, 2015, Donald Ray Crockett aka Ray Crockett (hereinafter "Crockett") and Crockett 39 Family Partners, Ltd., a Texas limited partnership, (hereinafter "C39") filed their Application for Temporary Restraining Order and Injunctive Relief and Motion for Sanctions (hereinafter "Application"). On June 5, 2015, the Court set a hearing on Crockett and C39's Application and, specifically, their request for a temporary injunction to be held on June 15, 2015 at 9:00a.m. (hereinafter "TI Hearing"). Before the Court, the parties addressed and discussed the Order for Delivery of Property After Further Briefing and Hearing Following Examination [C.C.P. §708.205] (hereinafter "Order") entered in Case No. RIC 527384, pending in the Superior Court of the State of California for the County of Riverside. The Order provides in pertinent part that "all assets in the Merrill Lynch Pierce Fenner & Smith [Merrill Lynch] accounts ending in #7359 and #2446 shall be forthwith liquidated and all net proceeds therefrom shall be immediately turned over to CEF IV's [Continental East Fund IV, LLC] counsel by wire transfer as per instructions supplied by CEF IV and that Merrill Lynch shall provide an accounting to both Floratos, Loll & Devine, PC (Continental's counsel) and Gordon & Rees, LLP (Donald Ray Crockett's counsel)." The Order has been appealed by a Oi'J-&l.~tt ALL SERVED VlA:. O~ffs~nutrON OF TEMPORARY INJUNCTION -~·' 1 ,.ER~¥ PAGEl ~An'l4..t.Ltuc. f~,.,A...U oJ -LL. I FAX 1"\u..... ; _ c/-~~ Transaction# 451 .1-- :::·_: ., ~M""""'I , 11.. dO IS TO ' . .:RVE. COPIES ON ALL OTHERS Petition for Writ of Mandate to the Court of Appeals for the State of California, Fourth Appellate District, Division 2 (hereinafter "Mandate Petition"). As a part of the Mandate Petition, a stay of the Order is requested and, specifically, any requirement that Merrill Lynch liquidate and turnover funds. Crockett and C39 announced that they were ready to proceed with the TI Hearing. Over Crockett and C39's objection, the Court is of the opinion that the TI Hearing will not be held until the resolution of the Mandate Petition. The Court is also of the opinion that the funds on deposit with Merrill Lynch should be protected pending this Court's further consideration. Over Crockett and C39's objection, the Court is of the further opinion, subject to ruling on the stay requested in California, that the proceeds should be paid into a separately created interest bearing lawyer's trust fund at Floratos, Loll & Devine, PC and shall not be dispersed without further order of this Court. Thus, neither Continental East Fund IV, LLC (hereinafter "Continental") nor any other individual or entity shall have access to or receive distribution of such funds absent further court order. THEREFORE, it is ORDERED, ADJUDGED and DECREED that in the event the Order is enforced and Merrill Lynch turns over accounts #7359 and #2446 to Continental, Floratos, Loll & Devine, PC will deposit those funds in a separately created interest bearing lawyer's trust account. Floratos, Loll & Devine, PC shall not disperse or provide access to Continental or any other entity or individual to any of these funds without further orders of this Court. IT IS FURTHER ORDERED, ADJUDGED and DECREED, that William Floratos of Floratos, Loll & Devine PC will notify this Court and all counsel of the receipt of the funds, the amount received, provide the account number for the account created, provide the name of the financial institution holding such funds, and provide the monthly account statements to the Court and all counsel. ORDER PENDING RESOLUTION OF TEMPORARY L"!JUNCTION PAGE2 ... Signed this f4~ay of June, 2015. Judge Wade Birdwell ORDER PENDING RESOLUfiON OF TEMPORARY INJUNCTION PAGE3