Filed: Apr. 30, 2001
Latest Update: Mar. 02, 2020
Summary: 5(&200(1'(' )25 )8//7(;7 38%/,&$7,21 8QLWHG6WDWHVY 1RV 3XUVXDQW WR 6L[WK &LUFXLW 5XOH 3HWHUPDQHWDO (/(&7521,& &,7$7,21 )(' $SS 3 WK &LU )LOH 1DPH DS *UDQW Y 8QLWHG 6WDWHV )G WK &LU GHFOLQLQJ WR JUDQW UHOLHI RQ D GHIDXOWHG FODLP RI 81,7('67$7(6&28572)$33($/6 VHQWHQFLQJHUURUEHFDXVHWKHUHZDVQRmEUHDNGRZQRIWKHWULDO SURFHVVl6FRWWY8QLWHG6WDWHV)GWK&L
Summary: 5(&200(1'(' )25 )8//7(;7 38%/,&$7,21 8QLWHG6WDWHVY 1RV 3XUVXDQW WR 6L[WK &LUFXLW 5XOH 3HWHUPDQHWDO (/(&7521,& &,7$7,21 )(' $SS 3 WK &LU )LOH 1DPH DS *UDQW Y 8QLWHG 6WDWHV )G WK &LU GHFOLQLQJ WR JUDQW UHOLHI RQ D GHIDXOWHG FODLP RI 81,7('67$7(6&28572)$33($/6 VHQWHQFLQJHUURUEHFDXVHWKHUHZDVQRmEUHDNGRZQRIWKHWULDO SURFHVVl6FRWWY8QLWHG6WDWHV)GWK&LU..
More
5(&200(1'(' )25 )8//7(;7 38%/,&$7,21 8QLWHG6WDWHVY 1RV 3XUVXDQW WR 6L[WK &LUFXLW 5XOH 3HWHUPDQHWDO (/(&7521,& &,7$7,21 )(' $SS 3 WK &LU )LOH 1DPH DS *UDQW Y 8QLWHG 6WDWHV )G WK &LU GHFOLQLQJ WR JUDQW UHOLHI RQ D GHIDXOWHG FODLP RI 81,7('67$7(6&28572)$33($/6 VHQWHQFLQJHUURUEHFDXVHWKHUHZDVQRmEUHDNGRZQRIWKHWULDO SURFHVVl6FRWWY8QLWHG6WDWHV)GWK&LU )257+(6,;7+&,5&8,7 KROGLQJ WKDW WKH GLVWULFW FRXUW VKRXOG QRW KDYH BBBBBBBBBBBBBBBBB FRQVLGHUHG D SHWLWLRQ EDVHG RQ DQ DOOHJHG PLVDSSOLFDWLRQRIWKHVHQWHQFLQJJXLGHOLQHV )RUWKHVHUHDVRQVZHKROGWKDWGHIHQGDQWVKDYHIDLOHGWR ; VKRZWKDWZDVmLQDGHTXDWHRULQHIIHFWLYHlIRUWKHLU 81,7(' 67$7(6 2) $0(5,&$ FODLPVDQGWKHUHIRUHWKHGLVWULFWFRXUWODFNHGMXULVGLFWLRQWR 3ODLQWLII$SSHOODQW JUDQW UHOLHI XQGHU :H GR QRW UHDFK %HOOj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l&KDUOHV)GDWFLWDWLRQV 'HIHQGDQW$SSHOOHH RPLWWHG &URVV$SSHOODQW 1 :HLQYRNHGWKHSUHYDLOLQJVWDQGDUGWKDWLVVDLGWRZDUUDQW WKHEULQJLQJRIVXFKSHWLWLRQVLQRXU&KDUOHVRSLQLRQ $SSHDOIURPWKH8QLWHG6WDWHV'LVWULFW&RXUW ZKHQZHQRWHGWKDWm>Q@RFLUFXLWFRXUWKDVWRGDWHSHUPLWWHG IRUWKH1RUWKHUQ'LVWULFWVRI2KLRDW&OHYHODQGDQG$NURQ DSRVW$('3$SHWLWLRQHUZKRZDVQRWHIIHFWLYHO\PDNLQJD 1Rn3DWULFLD$*DXJKDQsDPHV6*ZLQ FODLPRIµDFWXDOLQQRFHQFHjWRXWLOL]HYLDjV 'DQ$3ROVWHU'LVWULFWsXGJHV µVDYLQJV FODXVHj DV D ZD\ RI FLUFXPYHQWLQJ jV UHVWULFWLRQV RQ WKH ILOLQJ RI VHFRQG RU VXFFHVVLYH KDEHDV $UJXHG1RYHPEHU SHWLWLRQVl,GDW7KHVHmDFWXDOLQQRFHQFHlFDVHVKDYH DULVHQ IURP D FRPPRQ IDFWXDO VFHQDULR VRPH SULVRQHUV 'HFLGHGDQG)LOHG$SULO FRQYLFWHGRImXVLQJlDILUHDUPGXULQJDGUXJFULPHRUYLROHQW FULPHIRXQGWKHPVHOYHVLQQRFHQWZKHQWKH6XSUHPH&RXUW %HIRUH5 @l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m$('3$l $V ZH FRXUWWUHDWHGDVPRWLRQVXQGHU86&DQGGHQLHG H[SODLQHGLQ&KDUOHVm>W@KHUHPHG\DIIRUGHGXQGHULV )RUHVWDWWHPSWHGWRDSSHDOEXWKLVDSSHDOZDVGLVPLVVHGDV 8QLWHG6WDWHVY 1RV 1RV 8QLWHG6WDWHVY 3HWHUPDQHWDO 3HWHUPDQHWDO XQWLPHO\ +H GLG QRW ILOH DQ\ FROODWHUDO DWWDFNV EHIRUH WKH 1'2KLR6HSW7KHFRXUWRUGHUHGDKHDULQJRQ LQVWDQWSHWLWLRQ WKHVH GHIHQGDQWVj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jV VHQWHQFH RQ GLUHFW DSSHDO FRQFOXGLQJ WKDW WKH LVmLQDGHTXDWHRULQHIIHFWLYHlZKLFKWKHJRYHUQPHQW GLVWULFW FRXUW KDG QRW PDGH DGHTXDWH IDFWXDO ILQGLQJV WR FODLPVGHIHQGDQWVKDYHQRWGHPRQVWUDWHG%HOOFURVVDSSHDOV VXSSRUWWKHGUXJDPRXQWDWWULEXWHGWR0LOOHGJH8QLWHG6WDWHV DUJXLQJWKDWLQWKHUHVHQWHQFLQJKHDULQJKHZDVGHQLHG Y0LOOHGJH)GWK&LU2QUHPDQG DQHYLGHQWLDU\KHDULQJWKDWVKRXOGKDYHUHVXOWHGLQDUHGXFWLRQ 0LOOHGJHZDVUHVHQWHQFHGWRPRQWKVRILPSULVRQPHQW RIKLVRIIHQVHOHYHO EDVHGRQNLORJUDPVRIFRFDLQH ,, :KHQ 3HWHUPDQ )RUHVW DQG %HOO OHDUQHG RI WKHLU FRFRQVSLUDWRUjV UHVHQWHQFLQJ WKH\ ILOHG WKH LQVWDQW :HUHYLHZDGLVWULFWFRXUWj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jVHQWHQFHV7R FKDOOHQJH WKH YDOLGLW\ RI KLV FRQYLFWLRQ RU VHQWHQFH XQGHU GHQ\ D ZULW RI KDEHDV FRUSXV LQ VXFK FLUFXPVWDQFHV LI LV mLQDGHTXDWH RU LQHIIHFWLYH WR WHVW WKH FRQFOXGHGWKHFRXUWmZRXOGEHDPLVFDUULDJHRIMXVWLFHLQWKDW OHJDOLW\RIKLVGHWHQWLRQlDFFRUGLQJWRWKHmVDYLQJVFODXVHlRI >GHIHQGDQWV KDYH@ D GXH SURFHVV ULJKW WR EH VHQWHQFHG RQ 86&ZKLFKVWDWHV DFFXUDWH LQIRUPDWLRQl 3HWHUPDQ Y /DPDQQD 1R &9VOLSRSDW1'2KLR6HSW)RUHVW $QDSSOLFDWLRQIRUDZULWRIKDEHDVFRUSXVLQEHKDOIRI Y/DPDQQD1R&9VOLSRSDW1'2KLR6HSW DSULVRQHUZKRLVDXWKRUL]HGWRDSSO\IRUUHOLHIE\PRWLRQ %HOOY/DPDQQD1R&9VOLSRSDW SXUVXDQW WR WKLV VHFWLRQ VKDOO QRW EH HQWHUWDLQHG LI LW DSSHDUVWKDWWKHDSSOLFDQWKDVIDLOHGWRDSSO\IRUUHOLHIE\ PRWLRQWRWKHFRXUWZKLFKVHQWHQFHGKLPRUWKDWVXFK FRXUWKDVGHQLHGKLPUHOLHIXQOHVVLWDOVRDSSHDUVWKDWWKH 7KH GLVWULFW FRXUW GHQLHG 0LOOHGJHjV SHWLWLRQ EXW UHHQWHUHG MXGJPHQW ZKLFK SHUPLWWHG 0LOOHGJH WR WDNH D GLUHFW DSSHDO