Securities and Exchange Commission v. Straightpath Venture Partners, LLC

CourtDistrict Court, S.D. New York
DecidedJune 6, 2022
Docket1:22-cv-03897
StatusUnknown

This text of Securities and Exchange Commission v. Straightpath Venture Partners, LLC (Securities and Exchange Commission v. Straightpath Venture Partners, LLC) is published on Counsel Stack Legal Research, covering District Court, S.D. New York primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.

Bluebook
Securities and Exchange Commission v. Straightpath Venture Partners, LLC, (S.D.N.Y. 2022).

Opinion

UNITED STATES DISTRICT COURT USDC SDNY SOUTHERN DISTRICT OF NEW YORK i DOCUMENT Tatts ees sss scree tse X ELECTRONICALLY FILED | SECURITIES AND EXCHANGE COMMISSION, I poc #:

-against- 22-cv-3897 (LAK)

STRAIGHTPATH VENTURE PARTNERS LLC, et al., Defendants. ter eter ere eee eee eee HK

ORDER

LEwWis A. KAPLAN, District Judge. In addition to the candidates proposed by the parties, the Court is considering for appointment as receiver Hon. Melanie Cyganowski, former Chief Judge of the United States Bankruptcy Court for the Eastern District of New York and now a member of the firm Otterbourg P.C. A copy of her resume is attached. For your information, the Court has been advised by Judge Cyganowski that the SEC approached her some time ago concerning service as a receiver in this case and requested that she run conflicts and provide a proposal. An entity called Flexport Capital LLC is a client of Otterbourg, and the name “Flexport” appeared on a list of names provided by the SEC to Judge Cyganowski, Judge Cyganowski does not know whether Flexport Capital LLC is the same “Flexport” that was on the SEC’s list but was advised that it would not be a conflict. If appointed, Judge Cyganowski and Otterbourg attorneys and professionals that assist her with this engagement would bill at their hourly rates. Judge Cyganowski’s current hourly billing rate is $1,470/hour. The standard hourly billing rates (subject to annual adjustments) for the Otterbourg attorneys who might work on this matter range from $695 to $1,235 for Members of the Firm and Of Counsel; $295 to $860 for Associates; and $345 for Paralegals, Otterbourg would also utilize less expensive junior attorneys whenever possible, under the supervision of more experienced attorneys, but at a lower rate. Judge Cyganowski is prepared to maintain her current hourly rate for the duration of the case, although the Otterbourg hourly rates may increase in accordance with its typical annual review in October. As an additional public service accommodation, for her own time spent on this matter, Judge Cyganowski is prepared to apply a 25 percent public interest discount to the aggregate

fees that she bills and Otterbourg will discount the total Otterbourg fees billed by 10 percent. These accommodations are similar to those voluntarily given in her last appointment by the SEC in the Platinum Funds receivership case. In that case, Judge Cyganowski agreed to maintain her hourly billing rate at the rate that was in effect at the time of appointment and, additionally, she agreed to reduce her aggregate fees by 20 percent and Otterbourg’s aggregate fees by 10 percent. There were additional accommodations with respect to specific litigation matters in the Platinum Funds case. Otterbourg would also bill for its expenses that are permitted to be charged to a receivership estate in accordance with the SEC Guidelines. Any objections to the appointment of Judge Cyganowski shall be filed on or before June 10, 2022. SO ORDERED. Dated: June 6, 2022 i, Lewis A. Kaplan United States District Jtfdge

Otterbourg MELANIE L. CYGANOWSKI Member of the Firm Otterbourg P.C. Direct No. 212.905.3677 Fax No, 212.682.6104 Cell No, 917.496.3670 MCyganowski@Giterbourg.com Otterbourg P.C., 230 Park Avenue, New York, NY 10169-0075. Member of the Firm, June 16, 2008 to present. Chair of Bankruptcy & Restructuring practice area, Bankruptcy law and Bankruptcy litigation; counsel to Official Committees of Unsecured Creditors; fiduciary appointments; mediation; arbitration; general commercial, federal court and complex litigation; expert witness; legal ethics. Greenberg Traurig, LLP, The MetLife Building, 200 Park Avenue, New York, NY 10166, Shareholder and Chair of the New York Office Bankruptcy Litigation Practice. March 1, 2007 to June 2, 2008, Bankruptcy law and Bankruptcy litigation; mediation; legal ethics. United States Bankruptcy Judge, Eastern District of New York, United States Bankruptcy Court, The Long Island Federal Courthouse, 290 Federal Plaza, Central islip, NY 11722. Appointed on March 1, 1993 through February 28, 2007. Appointed as Chief Judge of the Bankruptcy Court on November 29, 2005, Presided over thousands of commercial and Individual bankruptcy cases and published numerous opinions; mediations. St. John’s University, School of Law, 8000 Utopia Parkway, Jamaica, NY 11439. Adjunct Professor (part-time), LL.M, Program in Bankruptey. January 2001 to present. Bankruptcy Ethics, Fraud & Malpractice; Chapter 11 Corporate Reorganization; interrelationship of Domestic Relations & Bankruptcy; Bankruptcy Litigation. Milbank, Tweed, Hadley & McCloy, 1 Chase Manhattan Plaza, New York, NY 10005. Senior Attorney, Litigation. May, 1989 to February, 1993. Genera! commercial law; contract, partnership and business law disputes; federal court and complex litigation; Bankruptcy !aw and fender Habillty litigation. Sullivan & Cromwell, 125 Broad, New York, NY 10004, Litigation Associate. 1982 to May, 1989, Federal court and complex litigation; general commercial, insurance and contract law disputes; mergers & acquisition litigation; securities regulatory compliance and securities litigation. United States District Court, Southern District of New York, Foley Square, New York, NY¥ 10007. Law Clerk, Honorable Charles L, Brieant; 1981 to 1982. Hodgson, Russ, Andrews, Wood & Goodyear, Buffalo, NY. Summer Associate, 1980, Broadway-Fillmore Area Councll, inc,, Buffalo, NY. Director, Individual Referral Program funded by CETA Title |; 1978 to 1979, Procured and administered grants exceeding $800,000 annually. City of Buffalo, Departments of Community Development and Human Resources, Buffalo, NY. Program Planning Coordinator, Planner & Consultant, 1974 to 1978. Coordinated East Buffalo's comprehensive development plan and its designation as the first nationally recognized SBA loan program area and the implementation of $1 million EDA commercial beautification program.

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Otterbourg..

EDUCATION Faculty of Law & Jurisprudence, State University of New York at Buffalo. J.D., magna cum foude, May, 1981, Sea Grant Fellow, 1979. Award of Distinction in Law and Public Education, 1981. Buffalo Law Review: Senior Editor, 1980-81; Associate, 1979-80. Co-author, Survey: The Buffalo Polish-American Legal Experience, Buffalo Law Review, Vol. 30, No, 1 (1981), Buffalo Law Journal, Abstract Writer, 1979-80. Cornell University, Department of Anthropology, Ithaca, NY Graduate studies in Ph.D, program in urban development, 1975. Grinnell College, Grinnell, iowa. A.B., with Honors in Anthropology, May 1974. Grinnell Honor Scholar, AWARDS/HONORS Best Lawyers in America: Bankruptcy and Creditor Rights/insalvency and Reorganization Law (2021) Best Lawyers in America; Commercial Litigatian (2021) Americas Women in Business Law Award: Best in Restructuring and insolvency (2020} Lawdragon 500 Leading Global Restructuring & Insolvency Lawyers {2020} Lawdragon 500 Leading U.S. Bankruptcy & Restructuring Lawyers (2020) New York Law Journal: Distinguished Leaders (November 2019) New York Institute of Credit, Women’s Division: The Honorable Cecelia Goetz Award, 2019 Recipient (February 2019) Crain’s New York inaugural “Leading Women Lawyers in New York” list (2618) National Law Journal: Top 75 Outstanding Women Lawyers In US (2015) New York Institute of Credit, Future Leaders Division: The Honorable Burton R.

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