Biliouris v. Sundance Resources, Inc.

ORDER

DAVID C. GODBEY, District Judge.

This Order addresses Defendant Sun-dance Resources, Inc.’s (“Sundance”) motions to dismiss [39 & 90], Defendants Michael Patman and David P. Patman’s motion to dismiss [43], and Plaintiffs’ motion for the appointment of a receiver [82]. For the reasons given below, the Court grants in part and denies in part Defendants’ motions. The Court will by separate order set Plaintiffs’ motion for an evidentiary hearing.

I. Factual Background

Plaintiffs are investors who participated in one or more “Rig Bank Funds” set up by Sundance to finance the purchase of oil and…