Telephonic Status Conference - S-21372A-25-0234 - UL Assets, LLC et al. - May 05, 2026

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Arizona Corporation Commission 8 min 7 agenda items transcribed 3 days ago official recording ↗

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What is the purpose and docket information for this status conference?

Mark Prenney 0:00

Okay, let's go on the record at this time. This is the time set for a status conference in the matter of Albert Leroy Brown and U L Assets L L C The docket number is S two one three seven two A. Dash twenty five dash zero two three four. I'm administrative law judge Mark Prenney. I will be presiding over this matter today. We will begin by taking appearances for the record, starting with counsel for the securities division.

Cynthia Thomas 0:33

Thank you, Your Honor, and good morning. This is Cynthia Thomas on behalf of the security division.

Mark Prenney 0:38

Morning, Miss Thomas. Uh and appearing for um Mr. Brown and U L Assets. This is Albert Brown. Morning, Mr Brown. We last had on. We last met on March eighteenth, twenty twenty six for a telephonic procedural conference. At that time the securities division and mister Brown requested uh The scheduling of a status conference. to allow Mr Brown additional time to obtain counsel While the division continued to await production of documents in response to a subpoena.

Why does Albert Brown say he cannot obtain a $50,000 retainer for counsel?

Mark Prenney 1:17

Today's status conference was scheduled to give the parties time regarding those matters. Uh. I guess let me turn first to uh Mr Brown. I see uh you are Not represented by council today. What's uh what's been going on?

Albert Brown 1:35

Well as you can imagine, um, the uh cease and desist order has kind of put a disruption in the flow of business. Um Um and so That's caused the delay in me being able to come up with A fifty thousand dollar retainer. And so that's that's really what it's all been about. But I think that I've overcome that, um, and so I'll be ready by the end of this week. To um provide that. retainer to um our attorney to to represent and get started on this. I apologize for the time that it's taken, but it's kind of an unusual situation that I'm, you know, finding myself in. So Um, I have not been able to overcome that challenge until right now, but I uh will have that cured by the end of this week. So if we could extend this out for another thirty days, I would appreciate it.

Albert Brown 2:36

And I'm sure I won't be asking for another extension. And I'm sure that um you will be able to get All the documentation and everything that you need at that time.

Mark Prenney 2:50

Uh so if I understand correctly, Mr. Brown, you'd like us to schedule another status conference for uh sometime in June then?

What extension does Mr. Brown request and why is it needed?

Mark Prenney 2:59

Yes, please. Okay. Um, Ms. Thomas, what's the securities division's uh opinion on uh how we should proceed?

Cynthia Thomas 3:10

Um, your honors, thank you. Um, if Mr. Brown is Um, essentially uh correct in the fact that he may have counsel or he should have counsel by the end of the month. Um, then it does seem to make more sense to come back in about thirty thirty days or so. Um, that way the production of document schedule as long and as well as a hearing schedule can be worked out with uh appearing counsel. Um I I am cognizant that trying to set something now. Um where another party might also have scheduling conflicts might be a little complicated. Um our biggest issue right now is that we are still awaiting production and have been for several months now. Um I also recognize that the facilitation of uh document production may flow s more smoothly with council.

Cynthia Thomas 4:08

Um so at this point the division is fine with uh setting out another status conference in about thirty days.

Mark Prenney 4:18

Okay. Bear with me for uh A moment, um I'm checking. calendars.

Mark Prenney 5:07

Okay. I'm uh looking at June nineteenth. At uh Ten AM. As a possibility to schedule another status conference. Uh check with the the parties. Uh Miss Thomas would that uh scheduling work Uh for the Scourge Division.

Cynthia Thomas 5:33

Yes, Your Honor, June ninth at ten will work for the division.

Mark Prenney 5:37

Uh, Mr. Brown, how about you? Would that schedule work for you?

How is the new June 9th status conference date scheduled and confirmed?

Albert Brown 5:42

Yes,

Mark Prenney 5:42

thank you. Okay, so I'll go ahead and and schedule a uh Another telephonic status conference. For June nine. Um I think at that point uh Mr. Brown, if if you uh Uh huh. still do not have counsel, I I think I'm gonna be inclined to go ahead. Schedule hearing dates. So As long as uh You you're aware that uh I think that's gonna be how I'll proceed.

Albert Brown 6:17

Uh huh. Okay. That's that that's uh that's fine.

Mark Prenney 6:22

Okay. Um, I don't believe I have anything else to put on the record.