Abela v. Martin

5(&200(1'(' )25 )8//7(;7 38%/,&$7,21
 $EHODY0DUWLQ 1R 3XUVXDQW WR 6L[WK &LUFXLW 5XOH 

(/(&7521,& &,7$7,21  )(' $SS 3 WK &LU

WLPHLQZKLFKDSHWLWLRQHUFRXOGKDYHSHWLWLRQHGWKH8QLWHG )LOH 1DPH DS

6WDWHV 6XSUHPH &RXUW IRU FHUWLRUDULl FI *XWLHUUH] Y
6FKRPLJ)GWK&LUFHUWGHQLHG
86GHFLGLQJQRWWRWROOIRUWKHQLQHW\GD\SHULRG 81,7('67$7(6&28572)$33($/6
LQZKLFKDOLWLJDQWSRWHQWLDOO\FRXOGKDYHILOHGDSHWLWLRQIRU )257+(6,;7+&,5&8,7
FHUWLRUDUL ZLWK WKH 8QLWHG 6WDWHV 6XSUHPH &RXUW XVLQJ WKH BBBBBBBBBBBBBBBBB
mSURSHUO\ILOHGDSSOLFDWLRQ>WKDW@LVSHQGLQJlODQJXDJHRI
†GDQGVSHFLILFDOO\UHVHUYLQJIRUODWHUWKHTXHVWLRQ
RIZKHWKHUDSHWLWLRQIRUFHUWLRUDULWKDWKDVEHHQILOHGZLWKWKH
8QLWHG 6WDWHV 6XSUHPH &RXUW IDOOV ZLWKLQ WKH VWDWXWRU\ .(9,1 0$5. $%(/$ ;
ODQJXDJHRI†G 3HWLWLRQHU$SSHOODQW 

:KLOHDOORZLQJWROOLQJIRU6XSUHPH&RXUWUHYLHZLQWKLV  1R
FLUFXPVWDQFH ZRXOG EHWWHU  HIIHFWXDWH WKH LQFHQWLYH IRU Y 
OLWLJDQWV WR H[KDXVW DOO DYDLODEOH VWDWH UHPHGLHV EHIRUH !

SURFHHGLQJLQWKHORZHUIHGHUDOFRXUWVZHDUHIRUHFORVHGIURP :,//,$0 0$57,1'LUHFWRU 
UHDFKLQJWKLVUHVXOWXQGHUWKHDXWKRULW\RI'XQFDQDQG,VKDP 0LFKLJDQ'HSDUWPHQWRI 
$V VXFK ZH KROG WKDW WROOLQJ RI WKH RQH\HDU VWDWXWH RI &RUUHFWLRQV 
OLPLWDWLRQVSHULRGLQ†GIRUm6WDWHSRVWFRQYLFWLRQ
RURWKHUFROODWHUDOUHYLHZlLQ†GGRHVQRWH[WHQGWR 5HVSRQGHQW$SSHOOHH 

WKH SHULRG LQ ZKLFK WKH 8QLWHG 6WDWHV 6XSUHPH &RXUW 1
FRQVLGHUVDSHWLWLRQIRUFHUWLRUDULIROORZLQJWKHVWDWHFROODWHUDO
UHYLHZSURFHVV7KXV$EHODjVVWDWXWHRIOLPLWDWLRQVSHULRG $SSHDOIURPWKH8QLWHG6WDWHV'LVWULFW&RXUW
EHJDQUXQQLQJLPPHGLDWHO\IROORZLQJWKHILQDOGHQLDORIKLV IRUWKH(DVWHUQ'LVWULFWRI0LFKLJDQDW'HWURLW
VWDWHSRVWFRQYLFWLRQUHYLHZE\WKH0LFKLJDQ6XSUHPH&RXUW 1Rn5REHUW+&OHODQG'LVWULFWsXGJH
RQ0D\6HH†G$EHODjV†KDEHDV
SHWLWLRQLVXQWLPHO\EHFDXVHGD\VRIXQWROOHGWLPHSDVVHG $UJXHGsXO\
EHWZHHQWKHGDWHKLVFRQYLFWLRQEHFDPHILQDODQGWKHILOLQJRI
KLV†SHWLWLRQ7KLVLVEH\RQGWKHRQH\HDUVWDWXWHRI 'HFLGHGDQG)LOHG2FWREHU
OLPLWDWLRQVSHULRGUHTXLUHGE\$('3$DQG†
%HIRUH6,/(5&2/(DQG&/$<&LUFXLWsXGJHV
&21&/86,21
BBBBBBBBBBBBBBBBB
)RUWKHIRUHJRLQJUHDVRQVZH$)),50WKHMXGJPHQWRI
WKHGLVWULFWFRXUWLQGHQ\LQJ$EHODjV†KDEHDVSHWLWLRQ &2816(/
EHFDXVHVXFKSHWLWLRQZDVILOHGRXWVLGHWKHDSSOLFDEOHVWDWXWH
RIOLPLWDWLRQV %HFDXVH$EHODjV†SHWLWLRQIRUKDEHDV $5*8('sDPHV6WHUOLQJ/DZUHQFH'HWURLW0LFKLJDQIRU
FRUSXVLVRXWVLGHWKHRQH\HDUVWDWXWHRIOLPLWDWLRQVSHULRGLQ $SSHOODQW  5DLQD , .RUEDNLV 2)),&( 2) 7+(
86&†GZHQHHGQRWFRQVLGHUWKHSURFHGXUDO $77251(<*(1(5$/+$%($6&25386',9,6,21
GHIDXOWLVVXHRUWKHUHPDLQGHURI$EHODjVFODLPVRQWKHPHULWV /DQVLQJ 0LFKLJDQ IRU $SSHOOHH  21 %5,()  sDPHV
6WHUOLQJ/DZUHQFH'HWURLW0LFKLJDQIRU$SSHOODQW:LOOLDP


 $EHODY0DUWLQ 1R 1R $EHODY0DUWLQ 

&&DPSEHOO2)),&(2) 7+($77251(<*(1(5$/ †GWRSHUPLWWROOLQJKHUH1RRWKHUDYHQXHVDUHOHIW
+$%($6 &25386 ',9,6,21 /DQVLQJ 0LFKLJDQ IRU IRUWROOLQJLQWKHVWDWXWH
$SSHOOHH
0RVWRIWKHFLUFXLWVWKDWKDYHDGGUHVVHGWKLVLVVXHDOVRKDYH
BBBBBBBBBBBBBBBBB KHOGWKDWVWDWHSRVWFRQYLFWLRQFROODWHUDOUHYLHZLVFRPSOHWH
RQFHWKHVWDWHjVKLJKHVWFRXUWKDVUXOHG6HH&RDWHVY%\UG
23,1,21 )GWK&LUFHUWGHQLHG86
BBBBBBBBBBBBBBBBB m>$@QDSSOLFDWLRQµIRU6WDWHSRVWFRQYLFWLRQRU
RWKHU FROODWHUDO UHYLHZ    LV SHQGLQJj >XQGHU@  86&
5*8<&2/(s5&LUFXLWsXGJH7KLVDFWLRQDULVHVIURP †GRQO\VRORQJDVWKHFDVHLVLQWKHVWDWHFRXUWVl
DVWDWHPDQVODXJKWHUFRQYLFWLRQDQGDVXEVHTXHQWSHWLWLRQIRU 5KLQHY%RRQH)GWK&LUFHUW
WKHLVVXDQFHRIDZULWRIKDEHDVFRUSXVSXUVXDQWWR86& GHQLHG86m7KHWLPHDIWHUWKH2NODKRPD
†7KHGLVWULFWFRXUWGHQLHGWKHKDEHDVSHWLWLRQRQLWV &RXUWRI&ULPLQDO$SSHDOVILQDOO\GHQLHGKLVSRVWFRQYLFWLRQ
PHULWV DQG 3HWLWLRQHU$SSHOODQW .HYLQ 0DUN $EHOD KDV DSSOLFDWLRQXQWLOWKH8QLWHG6WDWHV6XSUHPH&RXUWGHQLHGKLV
DSSHDOHG$EHODDUJXHVWKDWKLVKDEHDVSHWLWLRQZDVWLPHO\ SHWLWLRQIRUFHUWLRUDULZDVQRWµWLPHGXULQJZKLFKDSURSHUO\
ILOHGDQGQRWSURFHGXUDOO\GHIDXOWHG)RUWKDWUHDVRQKHXUJHV ILOHG DSSOLFDWLRQ IRU 6WDWH SRVWFRQYLFWLRQ    UHYLHZ   
XVWRUHYHUVHWKHMXGJPHQWRIWKHGLVWULFWFRXUWDQGJUDQWKLV >ZDV@SHQGLQJjl2WWYsRKQVRQ)GWK&LU
SHWLWLRQRQWKHJURXQGVWKDWKLV)LIWK$PHQGPHQWULJKWVZHUH  FHUW GHQLHG  86   m>6HFWLRQ@
YLRODWHGE\KLVSRVWDUUHVWLQWHUURJDWLRQDQGWKHDGPLVVLRQRI GGRHVQRWWROOWKHOLPLWDWLRQVSHULRGIURPWKHWLPH
VWDWHPHQWV IURP WKDW LQWHUURJDWLRQ DW WULDO EHFDXVH RI RIGHQLDORIVWDWHKDEHDVUHOLHIE\WKHVWDWHKLJKFRXUWXQWLOWKH
SURVHFXWRULDO FRQGXFW DW WULDO DQG EHFDXVH RI LQHIIHFWLYH
DVVLVWDQFHRIWULDODQGDSSHOODWHFRXQVHO
$OWKRXJKVHYHUDOLVVXHVZHUHUDLVHGLQWKLVDSSHDOZHQHHG 
$W RUDO DUJXPHQW 3HWLWLRQHU FLWHG WZR FDVHV IURP WKH 7KLUG &LUFXLW
DGGUHVV RQO\ WZR    ZKHWKHU $EHODjV KDEHDV SHWLWLRQ LV WKDW KH FODLPHG DOORZHG IRU WROOLQJ ZKHQ D SHWLWLRQ IRU FHUWLRUDUL LV ILOHG
PRRW DQG WKXV QRW ZLWKLQ RXU $UWLFOH ,,, MXULVGLFWLRQ DQG ZLWK WKH 8QLWHG 6WDWHV 6XSUHPH &RXUW IROORZLQJ VWDWH SRVWFRQYLFWLRQ
ZKHWKHU$EHODjVKDEHDVSHWLWLRQLVEDUUHGE\WKHVWDWXWHRI FROODWHUDO UHYLHZ 7KH ILUVW 1DUD Y )UDQN  )G  G &LU 

OLPLWDWLRQV VHW IRUWK LQ  86& † G  %HFDXVH LQYROYHV D VLWXDWLRQ ZKHUH WKH GHIHQGDQW GLG QRW ILOH D SHWLWLRQ IRU
FHUWLRUDUL ZLWK WKH 8QLWHG 6WDWHV 6XSUHPH &RXUW IROORZLQJ WKH WHUPLQDWLRQ
$EHODjV †  KDEHDV SHWLWLRQ LV EDUUHG E\ WKH VWDWXWH RI RI KLV VWDWH SRVWFRQYLFWLRQ FROODWHUDO UHYLHZ SURFHVV ,Q IDFW WKH FRXUW
OLPLWDWLRQV VHW IRUWK LQ  86& † G ZH GR QRW VSHFLILFDOO\ H[FOXGHG IURP WROOLQJ XQGHU † G WKH QLQHW\GD\
DGGUHVV WKH SURFHGXUDO GHIDXOW LVVXH RU WKH UHPDLQGHU RI SHULRG IROORZLQJ WKH GHQLDO RI VWDWH SRVWFRQYLFWLRQ FROODWHUDO UHYLHZ DQG
$EHODjVFODLPVRQWKHPHULWV$FFRUGLQJO\ZH$)),50WKH PDGH QR FRPPHQW RQ WKH VWDWXV RI WROOLQJ ZKHQ D SHWLWLRQ LV ILOHG 
MXGJPHQW RI WKH GLVWULFW FRXUW LQ GHQ\LQJ $EHODjV †  )G DW  ,Q WKH VHFRQG FDVH 0RUULV Y +RUQ  )G  G &LU

KDEHDVSHWLWLRQEHFDXVHVXFKSHWLWLRQZDVILOHGRXWVLGHWKH  WKH 7KLUG &LUFXLW IRXQG WKDW † G WROOHG WKH RQH\HDU
VWDWXWH RI OLPLWDWLRQV SHULRG XQGHU † G$ IURP WKH GDWH XSRQ
DSSOLFDEOHVWDWXWHRIOLPLWDWLRQV ZKLFK WKH SHWLWLRQHU ILUVW ILOHG KLV SHWLWLRQ IRU VWDWH SRVWFRQYLFWLRQ UHOLHI
XQWLO WKH GDWH RQ ZKLFK WKH 8QLWHG 6WDWHV 6XSUHPH &RXUW GHQLHG FHUWLRUDUL
UHYLHZ RI WKDW SHWLWLRQ  )G DW  :H QRWH WKDW 0RUULV ZDV
GHFLGHG ZLWKRXW WKH EHQHILW RI WKH 6XSUHPH &RXUWjV GHFLVLRQ LQ 'XQFDQ
:KLOH 1DUD DQG 0RUULV DUH LQVWUXFWLYH ZH DUH VWLOO ERXQG E\ ,VKDP
ZKLFK H[FOXGHV 8QLWHG 6WDWHV 6XSUHPH &RXUW UHYLHZ RI VWDWH SRVW
FRQYLFWLRQ FROODWHUDO UHYLHZ IURP WROODEOH WLPH XQGHU † G
,VKDP  )G DW 
 $EHODY0DUWLQ 1R 1R $EHODY0DUWLQ 

'XQFDQ FRQFOXGHG WKDW LQ WKH RSHUDWLYH WROOLQJ SKUDVH RI %$&.*5281'
† G m6WDWH SRVWFRQYLFWLRQ RU RWKHU FROODWHUDO
UHYLHZlm6WDWHlPRGLILHVERWKmSRVWFRQYLFWLRQlDQGmRWKHU $)DFWXDO%DFNJURXQG
FROODWHUDOUHYLHZl86DWVHHDOVR,VKDPY5DQGOH
 )G   WK &LU  FHUW GHQLHG  86 $EHODjV XQGHUO\LQJ FRQYLFWLRQ VWHPV IURP WKH VWDEELQJ
:LWKWKHDGGLWLRQRIWKHm6WDWHlPRGLILHUWKH GHDWKRI6WDQOH\8QGHUZRRGDWDSDUW\LQWKHHDUO\PRUQLQJ
† G ODQJXDJH RI mRWKHU FROODWHUDO UHYLHZl IRUPV KRXUVRI0D\$EHODDUULYHGDWDSDUW\DWWKHKRPH
mRWKHUVWDWHFROODWHUDOUHYLHZl6HH'XQFDQ86DW RI $OOHQ +RZDUG LQ 5RFKHVWHU +LOOV 0LFKLJDQ VRPHWLPH
7KXV † G SHUPLWV WROOLQJ RQO\ IRU m6WDWH SRVW GXULQJWKHHYHQLQJRI0D\$WDSSUR[LPDWHO\DPRQ
FRQYLFWLRQlRUmRWKHUVWDWHFROODWHUDOUHYLHZl,GDW 0D\$EHODDQGDIULHQGQRWLFHGDPDQsDFRE6XOOLYDQ
FRQFOXGLQJIHGHUDOKDEHDVUHYLHZGRHVQRWWROO†G SXVKLQJ D FDU RXW RI WKH GULYHZD\ RI WKH KRPH  $EHOD
VWDWXWHRIOLPLWDWLRQVEHFDXVHLWLVQRWm6WDWHSRVWFRQYLFWLRQ FRQIURQWHG 6XOOLYDQ DQG DQ DUJXPHQW HQVXHG ZKLFK WKHQ
RURWKHUFROODWHUDOUHYLHZlXQGHU†G HUXSWHGLQWRDILVWILJKW$IWHUWKHILJKWEURNHXS6XOOLYDQUDQ
LQWRWKHKRXVHWRWHOOKLVROGHUEURWKHUsHUU\WKDWVRPHRQH
*LYHQWKDW†GFDQRQO\EHWROOHGIRUm6WDWHSRVW KDGEHDWHQKLPXS
FRQYLFWLRQlRUmRWKHUVWDWHFROODWHUDOUHYLHZlZHPXVWQRZ
FRQVLGHUZKHWKHUDSHWLWLRQIRUFHUWLRUDULWRWKH8QLWHG6WDWHV $VHFRQGILJKWEHJDQZKHQsHUU\6XOOLYDQDQG+RZDUGUDQ
6XSUHPH&RXUWIROORZLQJWKHGHQLDORIVWDWHSRVWFRQYLFWLRQ RXWVLGHWRFRQIURQW$EHOD$EHODjVQRVHZDVEURNHQLQWKH
FROODWHUDOUHOLHIFDQEHFRQVLGHUHGDVVXFK7KHKROGLQJLQ ILJKWZKLFKHQGHGZLWK+RZDUGKROGLQJ$EHODGRZQRQWKH
,VKDP)GDWDQVZHUVWKLVTXHVWLRQLQWKHQHJDWLYH JURXQG+RZDUGSURPLVHG$EHODWKDWKHZRXOGUHOHDVHKLP
7KHUHWKLV&RXUWIRXQGWKDW LIKHOHIWWKHSDUW\LPPHGLDWHO\$EHODWKHQOHIWWKHSDUW\ZLWK
KLVIULHQG5RQDOG:ULJKW
$ SHWLWLRQ IRU FHUWLRUDUL WR WKH 8QLWHG 6WDWHV 6XSUHPH
&RXUW LV QRW mVWDWH SRVW FRQYLFWLRQ UHOLHIl  1HLWKHU LV 8SRQUHDFKLQJWKHFDU:ULJKWUHDOL]HGKHKDGIRUJRWWHQKLV
VXFK D SHWLWLRQ mRWKHU VWDWH FROODWHUDO UHOLHIl  $V WKH MDFNHW DQG UHWXUQHG WR UHWULHYH LW  $EHOD ZDV ZDLWLQJ IRU
7HQWK&LUFXLWREVHUYHGLQ5KLQH>)GDW@D :ULJKWDWWKHHGJHRIWKHGULYHZD\ZKHQKHZDVDWWDFNHGE\
SHWLWLRQ IRU D ZULW RI FHUWLRUDUL WR WKH 8QLWHG 6WDWHV VHYHUDO JXHVWV IURP WKH SDUW\  $EHOD ZDV NQRFNHG WR WKH
6XSUHPH &RXUW LV mVLPSO\ QRW DQ DSSOLFDWLRQ IRU VWDWH JURXQGDQGVXUURXQGHGE\VHYHUDODVVDLODQWVZKRNLFNHGDQG
UHYLHZRIDQ\NLQGl SXQFKHGKLPDERXWWKHIDFHDQGERG\$PRQJWKLVJURXSRI
DWWDFNHUVZDV6WDQOH\8QGHUZRRGZKRGXULQJWKHFRXUVHRI
,VKDP)GDW WKHEUDZOVWUDGGOHG$EHODjVFKHVW$EHODWKHUHXSRQGUHZD
NQLIHIURPDVKHDWKRQKLVEHOWDQGVWDEEHG8QGHUZRRGLQWKH
%HFDXVH'XQFDQPDQGDWHVWKDW†GSHUPLWVWROOLQJ FKHVW DQG OHIW DUP WKUHH WLPHV  8QGHUZRRG GLHG VKRUWO\
RQO\IRUWKHWLPHDVVRFLDWHGZLWKm6WDWHSRVWFRQYLFWLRQlRU DIWHUZDUGV
mRWKHU VWDWH FROODWHUDO UHYLHZl DQG EHFDXVH RXU KROGLQJ LQ
,VKDPSUHFOXGHVXVIURPFRQVLGHULQJDSHWLWLRQIRUFHUWLRUDUL $EHOD IOHG WR D IULHQGjV KRXVH ZKHUH KH FDOOHG  DQG
WR WKH 8QLWHG 6WDWHV 6XSUHPH &RXUW DV  m6WDWH SRVW DGPLWWHGWRWKHRSHUDWRUWKDWKHKDGVWDEEHGVRPHRQH$IWHU
FRQYLFWLRQlRUmRWKHUVWDWHFROODWHUDOUHYLHZlZHFDQQRWUHDG PHHWLQJWKHSROLFHDW+RZDUGjVKRXVH$EHODZDVWDNHQWRD
KRVSLWDO HPHUJHQF\ URRP IRU WUHDWPHQW  :KLOH DW WKH
HPHUJHQF\ URRP EXW EHIRUH EHLQJ WUHDWHG IRU KLV LQMXULHV
2DNODQG&RXQW\3ROLFH6HUJHDQW0LFKDHO0F&DEHTXHVWLRQHG
 $EHODY0DUWLQ 1R 1R $EHODY0DUWLQ 

$EHOD DERXW WKH HYHQWV OHDGLQJ XS WR WKH VWDEELQJ  $EHOD 7ROOLQJIRUWKHFHUWLRUDULSHULRGIRU8QLWHG6WDWHV
UHVSRQGHGE\VWDWLQJm>0@D\EH,VKRXOGWDONWRDQDWWRUQH\E\ 6XSUHPH&RXUWUHYLHZRI$EHODjVVWDWHSRVWFRQYLFWLRQ
WKHQDPHRI:LOOLDP(YDQVlDQGKDQGHG6HUJHDQW0F&DEH FROODWHUDOUHYLHZSHWLWLRQ
(YDQVjV EXVLQHVV FDUG  6HUJHDQW 0F&DEH SURPLVHG $EHOD
WKDW KH ZRXOG FRQWDFW (YDQV DQG OHIW WKH URRP  8SRQ 7KH UHPDLQLQJ LVVXH EHIRUH XV LV ZKHWKHU † G
UHWXUQLQJ0F&DEHPDGHQRPHQWLRQRIWKHIDFWWKDWKHKDG SURYLGHV IRU WROOLQJ RI WKH RQH\HDU VWDWXWH RI OLPLWDWLRQV
EHHQXQDEOHWRFRQWDFW(YDQVDQGSURFHHGHGWRUHDG$EHOD SHULRG LQ † G IRU WKH SHULRG RI WLPH LQ ZKLFK D
KLV0LUDQGDULJKWV$EHODVLJQHGDZDLYHUIRUPLQGLFDWLQJ SHWLWLRQHU VHHNV FHUWLRUDUL UHYLHZ E\ WKH 8QLWHG 6WDWHV
WKDWKHKDGEHHQLQIRUPHGRIKLV0LUDQGDULJKWVDQGEHJDQ 6XSUHPH &RXUW IROORZLQJ WKH GHQLDO RI SRVWFRQYLFWLRQ
JLYLQJDVWDWHPHQWWR6HUJHDQW0F&DEHEHJLQQLQJZLWKWKH FROODWHUDOUHOLHIE\WKH6WDWH7KLVLVRISDUWLFXODULPSRUWDQFH
SKUDVH m,jOO WHOO \RX HYHU\WKLQJl  ,W GRHV QRW DSSHDU WKDW KHUHDVWKHWLPHOLQHVVRI$EHODjVSHWLWLRQWXUQVRQWKLVYHU\
6HUJHDQW 0F&DEH WRRN DQ\ VWHSV WRZDUG FRQWDFWLQJ (YDQV LVVXH  ,I † G FDQQRW EH UHDG WR WROO WKH VWDWXWH RI
EHIRUHWDNLQJ$EHODjVVWDWHPHQW OLPLWDWLRQVSHULRGZKLOHDSHWLWLRQHUVHHNVUHYLHZIURPWKH
8QLWHG6WDWHV6XSUHPH&RXUWWKHQ†GFDQQRWEH
$EHODJDYHDVHFRQGVWDWHPHQWWRWKHSROLFHDIWHUKLVUHOHDVH WROOHGIRUWKHGD\VLQZKLFK$EHODILOHGDQGUHFHLYHGD
IURP WKH KRVSLWDO  ,Q ERWK VWDWHPHQWV $EHOD DGPLWWHG WR SHWLWLRQIRUFHUWLRUDULWKXVUHQGHULQJKLVSHWLWLRQXQWLPHO\E\
VWDEELQJ8QGHUZRRGEXWFODLPHGWKDWKHKDGGRQHVRLQVHOI  GD\V  /LNHZLVH LI † G FDQ EH UHDG WR SHUPLW
GHIHQVH WROOLQJIRUWKLVSHULRGRIWLPH$EHODDFFXPXODWHVGD\V
IURPZKHQWKH8QLWHG6WDWHV6XSUHPH&RXUWGHQLHGFHUWLRUDUL
%3URFHGXUDO+LVWRU\ WRZKHQWKHSHWLWLRQIRUKDEHDVFRUSXVZDVILOHG7KLVUHVXOWV
LQDWRWDORIGD\VRIXQWROOHGWLPHIURPWKHGDWH$EHODjV
$EHODZDVFKDUJHGZLWKVHFRQGGHJUHHPXUGHUDQGFDUU\LQJ FRQYLFWLRQEHFDPHILQDOWRWKHGDWHKHILOHGKLVSHWLWLRQIRU
D FRQFHDOHG ZHDSRQ LQ WKH VWDEELQJ GHDWK RI 8QGHUZRRG KDEHDV FRUSXV WKXV VDWLVI\LQJ WKH RQH\HDU † G
%HIRUH WULDO LQ WKH 2DNODQG &RXQW\ &LUFXLW &RXUW $EHODjV VWDWXWHRIOLPLWDWLRQV
FRXQVHOVRXJKWGLVPLVVDORIWKHZHDSRQVFKDUJHEHFDXVHWKH
NQLIHZDVQRWFRQFHDOHGLWZDVFDUULHGLQDVKHDWKDWWDFKHG 6HFWLRQGDOORZVIRUWROOLQJRIWKHWLPHDVVRFLDWHG
WRWKHRXWVLGHRI$EHODjVEHOW7KHWULDOMXGJHJUDQWHGWKDW ZLWKWKHILOLQJRIDQmDSSOLFDWLRQIRU6WDWHSRVWFRQYLFWLRQRU
PRWLRQRQ6HSWHPEHU2Q1RYHPEHUWKH RWKHU FROODWHUDO UHYLHZl  $EHOD DUJXHV WKDW D SHWLWLRQ IRU
SURVHFXWLRQILOHGDPRWLRQRXWVLGHWKHDSSOLFDEOHGD\ FHUWLRUDULZLWKWKH8QLWHG6WDWHV6XSUHPH&RXUWIROORZLQJWKH
WLPHOLPLWVHHNLQJUHFRQVLGHUDWLRQRIWKHGLVPLVVDO0LFK GHQLDO RI VWDWH SRVWFRQYLFWLRQ FROODWHUDO UHOLHI FRQVWLWXWHV
&W 5 )  $EHODjV FRXQVHO GLG QRW REMHFW WR WKLV mRWKHUFROODWHUDOUHYLHZlDQGWKXVSHUPLVVLEO\WROOVWKHRQH
PRWLRQ2QsXQHWKHMXGJHJUDQWHGWKHPRWLRQIRU \HDU†GVWDWXWHRIOLPLWDWLRQV6HHHJ'XQFDQY
UHFRQVLGHUDWLRQDQGUHLQVWDWHGWKHZHDSRQVFKDUJH :DONHU86SDUVLQJEXWQRWGHFLGLQJ
WKH OLPLWV RI DQG RYHUODS EHWZHHQ m6WDWH SRVWFRQYLFWLRQ
7KH WULDO FRPPHQFHG LQ sXQH   'XULQJ FORVLQJ UHYLHZlDQGmRWKHUFROODWHUDOUHYLHZl7KLV&RXUWPXVWILUVW
DUJXPHQWVWKHSURVHFXWRUUHIHUUHGWRDFRQYHUVDWLRQEHWZHHQ GHWHUPLQH WKHQ ZKHWKHU WKH ZRUG m6WDWHl PRGLILHV ERWK
$EHODDQGFRGHIHQGDQW5RQDOG:ULJKWDFRQYHUVDWLRQWKDW mSRVWFRQYLFWLRQlDQGmRWKHUFROODWHUDOUHYLHZl7KHUHFHQW
GRHVQRWDSSHDUDQ\ZKHUHLQWKHWULDOUHFRUG7KHSURVHFXWRU 8QLWHG6WDWHV6XSUHPH&RXUWGHFLVLRQLQ'XQFDQ86DW
VWDWHG  LQGLFDWHV WKDW LW GRHV  $IWHU DQ H[WHQVLYH DQDO\VLV RI
FRQJUHVVLRQDOLQWHQWDQGSULQFLSOHVRIVWDWXWRU\FRQVWUXFWLRQ
 $EHODY0DUWLQ 1R 1R $EHODY0DUWLQ 

RI $EHODjV FODLPV VKRXOG TXDOLI\ DV XQWROOHG WLPH  $EHOD 'R\RXWKLQNZKHQWKH\JRWEDFNWRWKDWFDUWKH\ZHUH
DUJXHVWKDWOHVVWKDQGD\VRIXQWROOHGWLPHKDGSDVVHG PDGDVKHOO"%RWKRIWKHPJRWVKRWGRZQSUHWW\GDPQ
EHFDXVHWKHODQJXDJHRI†GSURYLGHVIRUDGGLWLRQDO GUXQNWKH\DUHSUHWW\SLVVHGRII7KH\jYHORVWWKHILJKW
WROOLQJ XQWLO 2FWREHU   ZKHQ WKH 8QLWHG 6WDWHV 7KH\jYH EHHQ WKURZQ RXW  7KH\jYH EHHQ KXPLOLDWHG
6XSUHPH &RXUW GHQLHG KLV SHWLWLRQ IRU FHUWLRUDUL IURP WKH 7KH\jYHEHHQHPEDUUDVVHG
0LFKLJDQ 6XSUHPH &RXUWjV GHQLDO RI OHDYH  8QGHU WKH
ODQJXDJHRI†GZHUHMHFWERWKRIWKHVHFRQWHQWLRQV 1RWRQO\WKDW5RQ:ULJKWVD\Vm0\GDPQFRDWjVEDFN
WKHUH/HWjVJRJHWLWl>$EHODWKHQUHSOLHG@m5RQQLH
7ROOLQJGXULQJWKHWLPHEHWZHHQDORZHUVWDWHFRXUWjV EHWWHUWDNHWKLV>$EHODjVNQLIH@ZKHQZHJREDFN$LQjW
GHFLVLRQDQGWKHILOLQJRIDQRWLFHRIDSSHDOWRDKLJKHU QRERG\JRLQJWRNLFNRXUDVVDQ\PRUH/HWjVJREDFNl
VWDWHFRXUWRQFROODWHUDOUHYLHZRIDSHWLWLRQHUjVFODLPV
$EHODZDVFRQYLFWHGE\DMXU\RIYROXQWDU\PDQVODXJKWHU
7KHVWDWXWRU\ODQJXDJHRI86&†LVDPELJXRXV DQGFDUU\LQJDFRQFHDOHGZHDSRQRQsXO\+HZDV
DVWRZKHWKHUWKHRQH\HDUOLPLWDWLRQVSHULRGVKRXOGEHWROOHG VHQWHQFHG WR D WHUP RI VHYHQ WR ILIWHHQ \HDUV IRU YROXQWDU\
GXULQJWKHWLPHEHWZHHQDORZHUVWDWHFRXUWjVGHFLVLRQDQGWKH PDQVODXJKWHUDQGDFRQFXUUHQWIRUW\PRQWKVWRILYH\HDUVRI
ILOLQJRIDQRWLFHRIDSSHDOWRDKLJKHUVWDWHFRXUWRQFROODWHUDO LQFDUFHUDWLRQIRUFDUU\LQJDFRQFHDOHGZHDSRQ
UHYLHZRIDSHWLWLRQHUjVFODLPV7KHUHOHYDQWVHFWLRQVWDWHV
$EHODDSSHDOHGKLVFRQYLFWLRQE\UDLVLQJWKUHHLVVXHVLQWKH
7KHWLPHGXULQJZKLFKDSURSHUO\ILOHGDSSOLFDWLRQIRU 0LFKLJDQ&RXUWRI$SSHDOVRQ)HEUXDU\7KHWKUHH
6WDWH SRVWFRQYLFWLRQ RU RWKHU FROODWHUDO UHYLHZ ZLWK LVVXHVZHUHDWKDWKLVVHQWHQFHZDVGLVSURSRUWLRQDWHWRWKH
UHVSHFW WR WKH SHUWLQHQW MXGJPHQW RU FODLP LV SHQGLQJ FULPHEWKDWWKHWULDOFRXUWHUUHGE\UHLQVWDWLQJWKHZHDSRQV
VKDOO QRW EH FRXQWHG WRZDUG DQ\ SHULRG RI OLPLWDWLRQ FKDUJH DQG F WKDW WKH WULDO FRXUW HUUHG E\ DOORZLQJ WKH
XQGHUWKLVVXEVHFWLRQ SURVHFXWLRQWRSUHVHQWUHEXWWDOWHVWLPRQ\QRWUDLVHGLQLWVFDVH
LQFKLHI7KH0LFKLJDQ&RXUWRI$SSHDOVDIILUPHG$EHODjV
86&†G7KHWROOLQJLQWKHLQWHUYDOVEHWZHHQ FRQYLFWLRQ DQG VHQWHQFH LQ DQ XQSXEOLVKHG GLVSRVLWLRQ
HDFK OHYHO RI VWDWH FRXUW FROODWHUDO UHYLHZ WXUQV RQ WKH 3HRSOHY$EHOD1R0LFK&W$SSsXO\
GHILQLWLRQRIWKHZRUGmSHQGLQJlLQ†G7KH8QLWHG 7KH 0LFKLJDQ 6XSUHPH &RXUW GHQLHG $EHODjV GHOD\HG
6WDWHV6XSUHPH&RXUWUHFHQWO\FODULILHGWKLVLVVXHQRWLQJWKDW DSSOLFDWLRQ IRU OHDYH WR DSSHDO WKHVH LVVXHV RQ 0DUFK 
DSHWLWLRQHUjVFODLPLVmSHQGLQJlIRUWKHHQWLUHWHUPRIVWDWH 3HRSOHY$EHOD1R0LFK0DU
FRXUWUHYLHZLQFOXGLQJWKRVHLQWHUYDOVEHWZHHQRQHVWDWH
FRXUWjV MXGJPHQW DQG WKH ILOLQJ RI DQ DSSHDO ZLWK D KLJKHU
VWDWHFRXUW&DUH\Y6DIIROG6&W
$V WKH GLVWULFW FRXUW SRLQWHG RXW $EHOD WLPHO\ ILOHG KLV
DSSOLFDWLRQIRUFROODWHUDOUHYLHZDWHDFKVWDJHRIWKHDSSHOODWH
SURFHVVDQGWKXVPHHWVWKHmSURSHUO\ILOHGlDQGmSHQGLQJl
ODQJXDJHRI†G
 $EHODY0DUWLQ 1R 1R $EHODY0DUWLQ 

2Q$XJXVW$EHODILOHGDPRWLRQIRUUHOLHIIURP 6WDWHV 6XSUHPH &RXUW FRQVLGHUV D SHWLWLRQ IRU FHUWLRUDUL
MXGJPHQWLQWKH2DNODQG&RXQW\&LUFXLW&RXUWUDLVLQJ VL[ IROORZLQJWKHGHQLDORIFROODWHUDOUHYLHZDWWKHVWDWHOHYHO
FODLPVD$EHODjVVWDWHPHQWDWWKHKRVSLWDOZDVLQYROXQWDU\
EHFDXVH 6HUJHDQW 0F&DEH LJQRUHG $EHODjV UHTXHVW IRU DQ $EHODjVGLUHFWDSSHDOHQGHGRQ0DUFKZKHQWKH
DWWRUQH\E$EHODjVVWDWHPHQWDWWKHKRVSLWDOZDVLQYROXQWDU\ 0LFKLJDQ 6XSUHPH &RXUW GHQLHG $EHODjV PRWLRQ IRU UHOLHI
EHFDXVHKHZDVLQMXUHGDQGXQGHUWKHLQIOXHQFHRIDOFRKRODQG IURPMXGJPHQW%HFDXVH$EHODjVFODLPEHFDPHILQDOEHIRUH
SDLQ PHGLFDWLRQ F WKH WULDO FRXUW LPSURSHUO\ JUDQWHG WKH WKHSDVVDJHRI$('3$WKH†GRQH\HDUVWDWXWHRI
SURVHFXWLRQjVXQWLPHO\PRWLRQWRUHFRQVLGHUWKHGLVPLVVDORI OLPLWDWLRQVSHULRGIRUWKHILOLQJRID†KDEHDVSHWLWLRQ
WKH FRQFHDOHG ZHDSRQ FKDUJH G WKH SURVHFXWRU XQIDLUO\ EHJDQWRUXQRQ$SULO2Q$XJXVWDIWHU
SUHMXGLFHG $EHOD E\ SUHVHQWLQJ ZLWQHVV WHVWLPRQ\ LQ KLV WKHRQH\HDUVWDWXWHRIOLPLWDWLRQVSHULRGKDGUXQIRUGD\V
FORVLQJ DUJXPHQW WKDW ZDV XQVXSSRUWHG E\ WKH UHFRUG $EHOD ILOHG KLV PRWLRQ IRU UHOLHI IURP MXGJPHQW DQG WKH
H$EHODjVWULDOFRXQVHOSURYLGHGLQHIIHFWLYHDVVLVWDQFHDQG †GWROOLQJSURYLVLRQVWD\HGWKHOLPLWDWLRQVSHULRG
I$EHODjVDSSHOODWHFRXQVHOSURYLGHGLQHIIHFWLYHDVVLVWDQFH 7KHRQH\HDUVWDWXWHRIOLPLWDWLRQVSHULRGEHJDQUXQQLQJDJDLQ
7KH PRWLRQ ZDV GHQLHG mIRU ODFN RI PHULW RQ WKH JURXQGV RQ0D\ZKHQWKH0LFKLJDQ6XSUHPH&RXUWGHQLHG
SUHVHQWHGl  3HRSOH Y $EHOD 1R  2DNODQG OHDYHRQ$EHODjVPRWLRQIRUUHOLHIIURPMXGJPHQWDIWHUKLV
&RXQW\&LU&W2FW$EHODUDLVHGWKHVDPHVL[ DSSHDO WKURXJK WKH VWDWH FROODWHUDO UHYLHZ V\VWHP  6HH
LVVXHVRQDSSHDOWRWKH0LFKLJDQ&RXUWRI$SSHDOVZKLFK †G7KHRQH\HDUVWDWXWHRIOLPLWDWLRQVUDQIRUDQ
DOVRGHQLHGOHDYHWRDSSHDODQGDPRWLRQWRUHPDQG3HRSOH DGGLWLRQDOGD\VXQWLO$EHODILOHGWKLVKDEHDVSHWLWLRQRQ
Y$EHOD1R0LFK&W$SSsXO\2Q $SULO    7DNLQJ WKH HQWLUH HODSVHG WLPH  GD\V
$XJXVW   $EHOD DJDLQ UDLVHG WKHVH VL[ LVVXHV LQ KLV IURPWKHSHULRG$SULOWR$XJXVWSOXV
GHOD\HG DSSOLFDWLRQ IRU OHDYH WR DSSHDO WR WKH 0LFKLJDQ GD\V IURP WKH SHULRG 0D\   WR $SULO  
6XSUHPH&RXUWZKLFKOLNHZLVHGHQLHGKLVSHWLWLRQ3HRSOH DPRXQWVWRGD\VRIXQWROOHGWLPHDIWHU$EHODjVFRQYLFWLRQ
Y$EHOD1R0LFK0D\2Q$XJXVW EHFDPHILQDOZHOORXWVLGHWKHRQH\HDUVWDWXWHRIOLPLWDWLRQV
 $EHOD ILOHG D SHWLWLRQ IRU FHUWLRUDUL ZLWK WKH 8QLWHG SURYLGHGE\$('3$)RUWKDWUHDVRQZHGLVPLVV$EHODjV
6WDWHV 6XSUHPH &RXUW ZKLFK ZDV GHQLHG RQ 2FWREHU  †KDEHDVSHWLWLRQDVXQWLPHO\
$EHODY0LFKLJDQ86
&(OHPHQWVRIWKLVWROOLQJFDOFXODWLRQ
$EHODZDVUHOHDVHGWRSDUROHVWDWXVRQ0DUFKDQG
GLVFKDUJHGIURPSDUROHRQ0DUFKWHUPLQDWLQJKLV 8QFRQWHVWHGE\WKHSDUWLHVLVWKHGD\VRIXQWROOHGWLPH
VHYHQWRILIWHHQ\HDUVHQWHQFHIRUPDQVODXJKWHU$EHODjVWKUHH EHWZHHQ $SULO   ZKHQ $('3$ ZDV HQDFWHG DQG
$XJXVWZKHQ$EHODILOHGKLVPRWLRQIRUUHOLHIIURP
MXGJPHQW  6HH $XVWLQ  )G DW   86&

$EHOD FODLPV LQ KLV EULHI WKDW KH ILOHG KLV 0RWLRQ IRU 5HOLHI IURP
†G+RZHYHUWKHSDUWLHVGRFRQWHVWWKHFDOFXODWLRQ
sXGJPHQW ZLWK WKH VWDWH FRXUW RQ $SULO   UDWKHU WKDQ $XJXVW 
RIWKHILQDOGD\VRIXQWROOHGWLPHIROORZLQJWKH0LFKLJDQ
 $00 $SSHOODQWjV %ULHI DW  Q 7KH GLVWULFW FRXUW UHOLHG RQ WKH 6XSUHPH&RXUWjV0D\GHQLDORI$EHODjVPRWLRQIRU
$XJXVW   GDWH LQ LWV FDOFXODWLRQV RI ZKHWKHU $EHOD FRPSOLHV ZLWK UHOLHI IURP MXGJPHQW DIWHU KLV DSSHDOV WKURXJK WKH VWDWH
WKH RQH\HDU VWDWXWH RI OLPLWDWLRQV XQGHU † G 8VLQJ WKH $SULO  FROODWHUDOUHYLHZV\VWHP7KH5HVSRQGHQWDUJXHVWKDWPRUH
 GDWH ZRXOG SURYLGH $EHOD DQ DGGLWLRQDO ILYH PRQWKV RI WROOLQJ RI WKH
VWDWXWH RI OLPLWDWLRQV  FUXFLDO LQ WKLV FDVH +RZHYHU WKHUH LV QR VXSSRUW
WKDQGD\VRIXQWROOHGWLPHKDGSDVVHGEHFDXVHWKHWLPH
IRU $EHODjV FODLP RI WKLV $SULO   GDWH RI ILOLQJ 7KH VWDWH FRXUW
EHWZHHQWKHORZHUVWDWHFRXUWjVGHFLVLRQDQGWKHILOLQJRID
GRFNHW VKHHW OLVWV WKH ILOLQJ GDWH IRU WKLV PRWLRQ DV $XJXVW   7KH QRWLFHRIDSSHDOWRWKHKLJKHUVWDWHFRXUWRQFROODWHUDOUHYLHZ
GDWH VWDPS RQ WKH PRWLRQ LWVHOI LV $XJXVW  
 $EHODY0DUWLQ 1R 1R $EHODY0DUWLQ 

$EHODjVKDEHDVSHWLWLRQILOHGZKLOHRQSDUROHDWWDFNVKLV WRILYH\HDUVHQWHQFHIRUFDUU\LQJDFRQFHDOHGZHDSRQHQGHG
XQGHUO\LQJFULPLQDOFRQYLFWLRQ%HFDXVH$EHODZDVRQSDUROH RQ2FWREHU
ZKHQKLVKDEHDVSHWLWLRQZDVILOHGKHPHHWVWKHmLQFXVWRG\l
UHTXLUHPHQWVRI††FDQGD6HH0DOHQJ 2Q$SULOEHIRUHKLVSDUROHWHUPKDGHQGHG$EHOD
86 DW   %HFDXVH KH LV FKDOOHQJLQJ KLV XQGHUO\LQJ VRXJKWDZULWRIKDEHDVFRUSXVSXUVXDQWWR†UDLVLQJWKH
FULPLQDO FRQYLFWLRQ WKH FROODWHUDO FRQVHTXHQFHV RI WKDW VDPHFODLPVDVLQKLVPRWLRQIRUUHOLHIIURPMXGJPHQWH[FHSW
FRQYLFWLRQSURYLGH$EHODWKHSHUVRQDOVWDNHLQWKHRXWFRPHRI IRUKLVFODLPUHJDUGLQJWKHWULDOFRXUWjVGHFLVLRQWRUHFRQVLGHU
WKHODZVXLWKHQHHGVWRVDWLVI\$UWLFOH,,,jVFDVHRUFRQWURYHUV\ LWVGLVPLVVDORIWKHFRQFHDOHGZHDSRQFKDUJH7KHGLVWULFW
UHTXLUHPHQW6SHQFHU86DW:LWKVXEMHFWPDWWHU FRXUWLVVXHGDPHPRUDQGXPRSLQLRQDQGGHQLHGWKHSHWLWLRQ
MXULVGLFWLRQ DQG DQ DFWXDO FDVH RU FRQWURYHUV\ EHIRUH XV IRU KDEHDV UHOLHI RQ 2FWREHU    2Q 'HFHPEHU 
$EHODjV FDVH LV QRW PRRW DQG WKHUHIRUH LV ZLWKLQ RXU WKHGLVWULFWFRXUWGHQLHG$EHODjVPRWLRQIRUDFHUWLILFDWH
MXULVGLFWLRQ6SHHU)GDW RIDSSHDODELOLW\
%:KHWKHU$EHODjVKDEHDVSHWLWLRQLVEDUUHGE\WKH $EHODDSSHDOHGKLVGHQLDORIWKHPRWLRQWRWKLV&RXUW:H
VWDWXWHRIOLPLWDWLRQVVHWIRUWKLQ86&†G JUDQWHGKLVFHUWLILFDWHRIDSSHDODELOLW\RQWKHLVVXHVEHIRUHXV
RQ$SULO
$EHOD DUJXHV WKDW WKH VWDWXWH RI OLPLWDWLRQV LQ  86&
†GGRHVQRWEDUKLVKDEHDVSHWLWLRQ7KHGLVWULFW ',6&866,21
FRXUWIRXQGWKDWWKHVWDWXWHRIOLPLWDWLRQVGLGQRWEDU$EHODjV
KDEHDV SHWLWLRQ LQ SDUW EHFDXVH WKH VWDWXWH RI OLPLWDWLRQV  67$1'$5' 2) 5(9,(:
SHULRGZDVWROOHGXQGHUWKHODQJXDJHRI†GZKLOH
$EHOD DSSOLHG IRU FHUWLRUDUL WR WKH 8QLWHG 6WDWHV 6XSUHPH ,QDQDSSHDORIDGLVWULFWFRXUWjVGHFLVLRQGHQ\LQJKDEHDV
&RXUWIROORZLQJWKHGHQLDORIVWDWHSRVWFRQYLFWLRQFROODWHUDO UHOLHIXQGHU86&†WKLV&RXUWjVUHYLHZLVJRYHUQHG
UHYLHZE\WKH0LFKLJDQ6XSUHPH&RXUW6HFWLRQG E\WKH$QWLWHUURULVPDQG(IIHFWLYH'HDWK3HQDOW\$FWRI
SURYLGHVIRUDRQH\HDUVWDWXWHRIOLPLWDWLRQIRUKDEHDVFODLPV m$('3$l 3XE / 1R   6WDW  
DIWHU WKH GDWH RQ ZKLFK WKH MXGJPHQW EHFDPH ILQDO E\ WKH 8QGHU$('3$KDEHDVUHOLHIPD\QRWEHJUDQWHGZLWKUHVSHFW
FRQFOXVLRQRIGLUHFWUHYLHZ$RQH\HDUJUDFHSHULRGDIWHUWKH WRDQ\FODLPDGMXGLFDWHGRQWKHPHULWVLQVWDWHFRXUWXQOHVVWKH
$SULO   HQDFWPHQW RI $('3$ LV SHUPLWWHG LI WKH DGMXGLFDWLRQ
MXGJPHQWEHFDPHILQDOEHIRUHWKHSDVVDJHRI$('3$6HH
$XVWLQY0LWFKHOO)GWK&LU6HFWLRQ  UHVXOWHG LQ D GHFLVLRQ WKDW ZDV FRQWUDU\ WR RU
GSURYLGHVWKDWWKHWLPHGXULQJZKLFKDmSURSHUO\ LQYROYHG DQ XQUHDVRQDEOH DSSOLFDWLRQ RI FOHDUO\
ILOHGDSSOLFDWLRQIRU6WDWHSRVWFRQYLFWLRQRURWKHUFROODWHUDO HVWDEOLVKHG)HGHUDOODZDVGHWHUPLQHGE\WKH6XSUHPH
UHYLHZ ZLWK UHVSHFW WR WKH SHUWLQHQW MXGJPHQW RU FODLP LV &RXUWRIWKH8QLWHG6WDWHVRU
SHQGLQJl ZLOO QRW FRXQW DJDLQVW WKLV RQH\HDU OLPLW  UHVXOWHG LQ D GHFLVLRQ WKDW ZDV EDVHG RQ DQ
$FFRUGLQJO\WKHLVVXHEHIRUHXVLVZKHWKHUWKH†G XQUHDVRQDEOH GHWHUPLQDWLRQ RI WKH IDFWV LQ OLJKW RI WKH
VWDWXWHRIOLPLWDWLRQVSHULRGLVWREHWROOHGGXULQJDWKHWLPH HYLGHQFHSUHVHQWHGLQWKH6WDWHFRXUWSURFHHGLQJ
EHWZHHQ D ORZHU VWDWH FRXUWjV GHFLVLRQ DQG WKH ILOLQJ RI D
QRWLFHRIDSSHDOWRDKLJKHUVWDWHFRXUWRQFROODWHUDOUHYLHZRI 86&†G
DSHWLWLRQHUjVFODLPVDQGEWKHSHULRGLQZKLFKWKH8QLWHG
 $EHODY0DUWLQ 1R 1R $EHODY0DUWLQ 

,Q:LOOLDPVY7D\ORU86WKH6XSUHPH 86&††FDQGDUHTXLUHWKDWD†
&RXUWGHWHUPLQHGWKDWDVWDWHFRXUWjVGHFLVLRQLVFRQWUDU\WR KDEHDV SHWLWLRQ EH ILOHG ZKHQ D SHUVRQ LV mLQ FXVWRG\ LQ
FOHDUO\HVWDEOLVKHGIHGHUDOODZZKHUHLWIDLOVWRFRQVLGHUDUXOH YLRODWLRQRIWKH&RQVWLWXWLRQRUODZVRUWUHDWLHVRIWKH8QLWHG
RIODZWKDWLVHPEHGGHGLQWKH&RXUWjVMXULVSUXGHQFHDWWKH 6WDWHVl$QLQFDUFHUDWHGFRQYLFWjVFKDOOHQJHWRWKHYDOLGLW\RI
WLPHWKHVWDWHFRQYLFWLRQEHFDPHILQDO 6HH LGDW,Q KLV FRQYLFWLRQ VDWLVILHV WKH mLQ FXVWRG\l UHTXLUHPHQW RI
GHILQLQJmFOHDUO\HVWDEOLVKHGODZlWKH&RXUWKHOGWKDWmUXOHV 86&††FDQGD6SHQFHUY.HPQD
RIODZDUHVXIILFLHQWO\FOHDUIRUKDEHDVSXUSRVHVHYHQZKHQ 86$SULVRQHUZKRLVSODFHGRQSDUROHOLNHZLVH
WKH\DUHH[SUHVVHGLQWHUPVRIDJHQHUDOL]HGVWDQGDUGUDWKHU VDWLVILHV WKLV UHTXLUHPHQW EHFDXVH KLV UHOHDVH LV QRW
WKDQDVDEULJKWOLQHUXOHl,GDW&RPSDUDWLYHO\DUXOH XQFRQGLWLRQDOWKHSDUROHHLVUHTXLUHGWRUHSRUWUHJXODUO\WR
HVWDEOLVKHGIROORZLQJDSHWLWLRQHUjVFRQYLFWLRQmWKDWµEUHDNV KLV SDUROH RIILFHU UHPDLQ DW D JLYHQ MRE UHVLGHQFH DQG
QHZJURXQGRULPSRVHVDQHZREOLJDWLRQRQWKH6WDWHVRUWKH FRPPXQLW\ DQG UHIUDLQ IURP FHUWDLQ DFWLYLWLHV  sRQHV Y
)HGHUDO *RYHUQPHQWjl LV QRW FRQVLGHUHG WR EH FOHDUO\ &XQQLQJKDP86VHHDOVR0DOHQJY
HVWDEOLVKHG IRU WKH SXUSRVHV RI WKLV VHFWLRQ  ,G DW  &RRN86SHUFXULDP
TXRWLQJ7HDJXHY/DQH867KH
:LOOLDPV&RXUWIXUWKHUKHOGWKDWDVWDWHFRXUWXQUHDVRQDEO\ $OWKRXJKVXEMHFWPDWWHUMXULVGLFWLRQLVDSSURSULDWHLQWKLV
DSSOLHVFOHDUO\HVWDEOLVKHG6XSUHPH&RXUWSUHFHGHQWZKHQLW FDVHWKLV&RXUWPXVWFRQVLGHUZKHWKHU$EHODjVUHOHDVHIURP
FRUUHFWO\LGHQWLILHVWKHJRYHUQLQJOHJDOSULQFLSOHLQWKHFDVH FXVWRG\ DQG WKH VXEVHTXHQW FRQFOXVLRQ RI KLV SDUROH WHUP
\HW XQUHDVRQDEO\ DSSOLHV WKDW SULQFLSOH WR WKH IDFWV RI WKH UHQGHUKLVDSSHDOPRRWXQGHU$UWLFOH,,,†RIWKH8QLWHG
GHIHQGDQWjVFDVH6HHLGDW$VWDWHFRXUWLVFRQVLGHUHG 6WDWHV &RQVWLWXWLRQ  :KHUH QR DFWXDO FDVH RU FRQWURYHUV\
WRKDYHXQUHDVRQDEO\DSSOLHG6XSUHPH&RXUWSUHFHGHQWZKHQ H[LVWVEHWZHHQWKHSDUWLHVRUZKHQmµHYHQWVRFFXUGXULQJWKH
LW mXQUHDVRQDEO\ H[WHQGV D OHJDO SULQFLSOH IURP >6XSUHPH SHQGHQF\RIDOLWLJDWLRQZKLFKUHQGHUWKHFRXUWXQDEOHWRJUDQW
&RXUW@SUHFHGHQWWRDQHZFRQWH[WZKHUHLWVKRXOGQRWDSSO\ WKHUHTXHVWHGUHOLHIjlWKHQWKHFDVHLVPRRWDQGRXWVLGHRXU
RU XQUHDVRQDEO\ UHIXVHV WR H[WHQG WKDW SULQFLSOH WR D QHZ MXULVGLFWLRQ6SHHUY&LW\RI2UHJRQ)GWK
FRQWH[WZKHUHLWVKRXOGDSSO\l,GDW &LUTXRWLQJ&DUUDVY:LOOLDPV)G
WK&LU%HFDXVHPRRWQHVVLVDMXULVGLFWLRQDOLVVXH
7KLV&RXUWPXVWSUHVXPHWKDWDOOGHWHUPLQDWLRQVRIIDFWXDO ZHPD\UDLVHLWVXDVSRQWHRQDSSHDOHYHQWKRXJKWKHLVVXH
LVVXHVPDGHE\WKHVWDWHFRXUWDUHFRUUHFWXQOHVVWKHSHWLWLRQHU ZDVQHLWKHUUDLVHGQRUEULHIHGEHORZ%HUJHUY&X\DKRJD
FDQUHEXWWKDWSUHVXPSWLRQE\FOHDUDQGFRQYLQFLQJHYLGHQFH &RXQW\%DU$VVjQ)GWK&LU
6HH86&†H
$VORQJDVDSHWLWLRQHUILOHVDKDEHDVSHWLWLRQDWWDFNLQJKLV
:HH[DPLQH$EHODjVFODLPVXQGHUWKHVHSDUDPHWHUV XQGHUO\LQJ FULPLQDO FRQYLFWLRQ ZKLOH LQFDUFHUDWHG RU LQ
FXVWRG\HYHQZKHUHKHLVODWHUUHOHDVHGEHIRUHWKHSHWLWLRQLV
 $1$/<6,6 FRQVLGHUHGKHZLOOVDWLVI\WKHFDVHRUFRQWURYHUV\UHTXLUHPHQW
RI $UWLFOH ,,, EHFDXVH RI WKH FRQWLQXLQJ FROODWHUDO
$:KHWKHU$EHODjVKDEHDVSHWLWLRQLVZLWKLQRXU FRQVHTXHQFHVWRDZURQJIXOFULPLQDOFRQYLFWLRQ6SHQFHU
$UWLFOH,,,MXULVGLFWLRQ 86DWFLWLQJ6LEURQY1HZ