Telephonic Procedural Conference - S-21406A-26-0245 - Sterling Gent Trading LTD, et al. - Aug 26, 2026

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Arizona Corporation Commission 9 min 8 agenda items transcribed 3 days ago official recording ↗

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What is the purpose of this procedural conference and who is presiding?

Mark Prenny 0:00

Let's go on the record at this time. This is the time scheduled for a procedural conference in the matter of Sterling Gent Trading, L T D et al. The docket number is S dash two one four zero six A. Dash twenty six dash zero two four five. I'm administrative law judge Mark Prenny. I will be presiding over the matter today. We will begin by taking appearances officially for the record, starting first with counsel for the securities division.

Elizabeth Schmidt 0:32

Good morning, this is Elizabeth Schmidt, Counsel with the Securities Division.

Mark Prenny 0:36

Morning, Ms. Schmidt. Uh appearing for the Sterling Gent. Um Respondent. Alan Bathkin. Mr Baskin. And appearing for the remaining respondents.

Timothy Lesoto 0:54

Good morning, Your Honor. This is Timothy Lesoto for Best Vestige and uh Jared Yellen and Jonathan Burtier.

Mark Prenny 1:03

Mr.

Who are the counsel and respondents appearing for the Securities Division?

Mark Prenny 1:03

Sutton. Uh I I guess I'm gonna start the By addressing the Schmidt um Where do things currently stand? Are we looking to schedule a hearing at this time?

Elizabeth Schmidt 1:18

Yes. Um so I think that I've had conversations with with both council and um the we're s in discussion and I think that everybody kind of is hopeful that we m would resolve um without having a hearing, however I w I would like to have hearing dates and have all of that on the calendar uh just in case.

Mark Prenny 1:41

Do you have a recommendation, Michmitt, regarding uh when to schedule a hearing and the duration of a hearing.

Elizabeth Schmidt 1:52

Um, I think just as soon as possible, considering the I think the calendars right now and maybe almost fall of twenty twenty seven. Um, so I think that that should be sufficient uh time. Um I think that the division would have probably about five to six witnesses and so our um cases be I would say approximately two to three. Um The maybe uh five days, maybe one week, unless um Council for the respondents have a a different idea.

Mark Prenny 2:29

When you say five days, Ms. Schmidt, are you anticipating the length of time for the divisions case or the entire hearing?

Elizabeth Schmidt 2:37

Oh, um so I would just say maybe the entire hearing I would anticipate the division case would probably be about two to three days.

Mark Prenny 2:44

Okay, thank you, Ms. Schmidt. Um Mr Baskin, uh what what's your thoughts on how we should proceed?

What are the parties’ positions on scheduling a hearing and preferred dates?

Alan Baskin 2:54

I I think it's always better to to save too much time than too little and um If we had to try this thing, obviously like like Ms. Schmidt said, the goal is to settle it. If we had to try this, I'd I'd ask you to set aside two two weeks, just in case. And typically you end up having a half day baked in there and there's an open meeting or something like that, but My ask would be two weeks.

Mark Prenny 3:20

Okay. Um Miss Lassoto, what's your uh position?

Timothy Lesoto 3:27

I have read Mr. Baskin, Your Honor.

Mark Prenny 3:31

Okay. Um bear with me. I'm going to look at a couple of calendars. I think Mish Schmidt is right where uh We're looking at dates in twenty twenty seven. And Perhaps not. Not all that early in twenty twenty seven either.

Mark Prenny 4:27

Okay. I I think as soon as I'm comfortable with scheduling this. would be in July. Um looking at starting on Y nineteen and

How does the court plan to set the hearing calendar for July 2027?

Mark Prenny 4:44

And going two weeks through the thirtieth. And I'm going to note That the Calendar currently has possible contingent open meeting dates on july twenty seventh and july twenty ninth. Um So we can schedule for the full two weeks. But it's possible one or both of those days might not be available to us. Ms. Schmidt, how does that schedule

Elizabeth Schmidt 5:16

work

Mark Prenny 5:16

for the securities division?

Elizabeth Schmidt 5:20

Both dates work for the division, Your Honor, thank you.

Mark Prenny 5:25

Mr. Baskin, how about you? Yes, Your Honor, that'll work. Uh Mr. Lesota, how does that work for you?

Timothy Lesoto 5:35

That uh that's fine. We're on a road note, I uh likely to be joined by co counsel. But they've not made an appearance in this matter yet.

Mark Prenny 5:46

Okay. All right, it sounds like uh this is a functional uh hearing schedule, man. Um We generally set a date. approximately thirty, forty five or sixty days ahead of the hearing for There are exhibits and lists of witnesses.

Why is a sixty‑day notice period being requested by the respondents?

Mark Prenny 6:07

Uh Mr. Baskin, I usually uh defer to the respondents. What's what's your preference for uh scheduling that?

Alan Baskin 6:18

I would ask a minimum of of sixty days for the exchange and and and I apologize. If if you could remind me what the start date was. I know I did it's I know it's July.