00a0306p.06

99-5822; 99-5919; 99-5871Court of Appeals for the Sixth Circuit08.09.2000

Gesamter Gesetzestext

7HOHVSHFWUXP,QFY3XEOLF
6HUY&RPP¶QRI.<HWDO
1RV
HPLVVLRQVWRWKHH[WHQWWKDWVXFKIDFLOLWLHVFRPSO\ZLWKWKH
&RPPLVVLRQ¶V UHJXODWLRQV FRQFHUQLQJ VXFK HPLVVLRQV´
86&† F % LY
)XUWKHUWKH&RPPLVVLRQHUVFDQQRWVXFFHHGRQWKHLUFODLP
WKDWWRXSKROGWKLVVWDQGDUGZRXOGUHTXLUHWKHPWRDSSURYH
HYHU\ DSSOLFDWLRQ ZKLFK KDG QR RSSRVLWLRQ $OO WKDW LV
UHTXLUHGXQGHUWKHVWDWXWHLVWKDWVXEVWDQWLDOHYLGHQFHVXSSRUW
DQ\GHQLDORIFRQVWUXFWLRQRIZLUHOHVVIDFLOLWLHV36&PDGHQR
VWDWHPHQW DQ\ZKHUH LQ WKHLU RUGHU WKDW 7HOHVSHFWUXP KDG
IDLOHGWRSURSHUO\FHUWLI\LWVDSSOLFDWLRQDQGFDQQRWUHVWRQ
VXFKDQDUJXPHQWQRZ$EVHQWDQ\IXUWKHUHYLGHQFHDQGLQ
OLJKW RI 7HOHVSHFWUXP¶V HYLGHQFH WKDW RWKHU VLWHV ZHUH OHVV
VXLWDEOHDQGWKDWWKH&KDPEHUV¶FRQFHUQVZHUHQRWEDVHGRQ
IDFWZHDIILUPWKHGLVWULFWFRXUW¶VGHWHUPLQDWLRQWKDW36&¶V
2UGHUZDVQRWEDVHGRQVXEVWDQWLDOHYLGHQFH
:H WKHUHIRUH FRQFOXGH WKDW WKH GLVWULFW FRXUW KDG SURSHU
MXULVGLFWLRQRYHUWKLVFRPSODLQWWKDWWKHFRXUWGLGQRWHUUE\
GHWHUPLQLQJ WKDW 36&¶V GHFLVLRQ ZDV XQVXSSRUWHG E\
VXEVWDQWLDOHYLGHQFHDQGDIILUPWKHRUGHURIWKHGLVWULFWFRXUW
JUDQWLQJMXGJPHQWIRU7HOHVSHFWUXP

5(&200(1'(' )25 )8//7(;7 38%/,&$7,21
3XUVXDQW WR 6L[WK &LUFXLW 5XOH
(/(&7521,& &,7$7,21 )(' $SS 3 WK &LU
)LOH 1DPH DS
81,7('67$7(6&28572)$33($/6
)257+(6,;7+&,5&8,7
BBBBBBBBBBBBBBBBB
7(/(63(&7580 ,1&
3ODLQWLII$SSHOOHH
Y
38%/,& 6(59,&(
&200,66,21 2) .(178&.<
%5(1'$ - +(/721LQKHU
RIILFLDOFDSDFLW\DV&KDLUPDQ
DQG&RPPLVLRQHURIWKH
3XEOLF6HUYLFHRI.HQWXFN\
(':$5' - +2/0(6LQKLV
RIILFLDOFDSDFLW\DV9LFH
&KDLUPDQDQG&RPPLVVLRQHU
RIWKH3XEOLF6HUYLFH
&RPPLVVLRQRI.HQWXFN\
*$5< : *,//,6LQKLV
RIILFLDOFDSDFLW\DV
&RPPLVVLRQHURIWKH3XEOLF
6HUYLFH&RPPLVVLRQRI
.HQWXFN\
'21$/' 5 &+$0%(56
&211,( &+$0%(56

'HIHQGDQWV$SSHOODQWV
;!

1
1RV

-- 1 of 8 --

7HOHVSHFWUXP,QFY3XEOLF
6HUY&RPP¶QRI.<HWDO
1RV
7KH +RQRUDEOH :LOOLDP 6WDIIRUG 6HQLRU 8QLWHG 6WDWHV 'LVWULFW -XGJH
IRU WKH 1RUWKHUQ 'LVWULFW RI )ORULGD VLWWLQJ E\ GHVLJQDWLRQ
$SSHDOIURPWKH8QLWHG6WDWHV'LVWULFW&RXUW
IRUWKH(DVWHUQ'LVWULFWRI.HQWXFN\DW)UDQNIRUW
1RV²-RVHSK0+RRG'LVWULFW-XGJH
$UJXHG-XQH
'HFLGHGDQG)LOHG6HSWHPEHU
%HIRUH6,/(5DQG&/$<&LUFXLW-XGJHV67$))25'
'LVWULFW-XGJH
BBBBBBBBBBBBBBBBB
&2816(/
$5*8(' $P\ ( 'RXJKHUW\ 38%/,& 6(59,&(
&200,66,21 2)),&( 2) *(1(5$/ &2816(/
)UDQNIRUW .HQWXFN\ IRU $SSHOODQWV 0DUN 5 2YHUVWUHHW
67,7(6 +$5%,621)UDQNIRUW.HQWXFN\IRU$SSHOOHH
21 %5,() $P\ ( 'RXJKHUW\ 'HERUDK 7 (YHUVROH
38%/,&6(59,&(&200,66,212)),&(2)*(1(5$/
&2816(/)UDQNIRUW.HQWXFN\IRU$SSHOODQWV0DUN5
2YHUVWUHHW67,7(6 +$5%,621)UDQNIRUW.HQWXFN\IRU
$SSHOOHH
BBBBBBBBBBBBBBBBB
23,1,21
BBBBBBBBBBBBBBBBB
&/$<&LUFXLW-XGJH'HIHQGDQWV&RPPLVVLRQHU%UHQGD
- +HOWRQ &RPPLVVLRQHU (GZDUG - +ROPHV DQG
&RPPLVVLRQHU *DU\ : *LOOLV RI WKH 3XEOLF 6HUYLFH
&RPPLVVLRQ RI .HQWXFN\ DSSHDO WKH RUGHUV RI WKH 8QLWHG
6WDWHV 'LVWULFW &RXUW IRU WKH (DVWHUQ 'LVWULFW RI .HQWXFN\
JUDQWLQJVXPPDU\MXGJPHQWIRU3ODLQWLII7HOHVSHFWUXP,QF
1RV 7HOHVSHFWUXP,QFY3XEOLF
6HUY&RPP¶QRI.<HWDO

8QLYHUVDO&DPHUDY1/5%86 7KLV
&RXUWUHYLHZVWKHHQWLUHUHFRUGLQFOXGLQJHYLGHQFHRSSRVHG
WRWKHUHVXOWRIWKHGHFLVLRQ6HH$PHULFDQ7H[WLOH0IJ,QVW
,QF Y 'RQRYDQ 86 :H ORRN WR
ZKHWKHU WKH DJHQF\ H[SODLQHG DQ\ FUHGLELOLW\ MXGJPHQWV LW
PDGHDQGZKHWKHULWJDYHUHDVRQVIRUFUHGLWLQJRQHSLHFHRI
HYLGHQFHRYHUDQRWKHU6HH3HDERG\&RDO&RY+LOO
)G WK&LU 7KLV&RXUWPXVWH[DPLQHWKH
HYLGHQFH DV D ZKROH WDNLQJ LQWR DFFRXQW ZKDWHYHU LQ WKH
UHFRUGIDLUO\GHWUDFWVIURPLWVZHLJKW6HH:\DWWY6HFUHWDU\
RI +HDOWK DQG +XPDQ 6HUYV )G WK &LU

:H ILQG WKDW WKH &RPPLVVLRQHUV¶ GHFLVLRQ WR GHQ\
7HOHVSHFWUXP¶VDSSOLFDWLRQUHVWHGRQWKHWHVWLPRQ\DQGOHWWHU
RI0UDQG0UV&KDPEHUV%HFDXVHWKH0D\RUGLGQRWWHVWLI\
DWWKHKHDULQJWKHRQO\UHFRUGHYLGHQFHLQRSSRVLWLRQWRWKH
*OREHVLWHZDVWKH&KDPEHUV¶FRQFHUQVWKDWWKH\ZRXOGEH
H[SRVHGWRKDUPIXOHPLVVLRQVDQGWKDWWKHLUSURSHUW\YDOXH
ZRXOG GLPLQLVK :KLOH WKH &KDPEHUV PD\ KDYH EHHQ
FUHGLEOHV\PSDWKHWLFZLWQHVVHVZHILQGWKDWWKHLUWHVWLPRQ\
ZDV QR PRUH WKDQ XQVXSSRUWHG RSLQLRQ WKDW WKHUH ZHUH
DOWHUQDWHVLWHVDYDLODEOH6HH7RZQRI$PKHUVW)GDW
³,Q D QXPEHU RI FDVHV FRXUWV KDYH RYHUWXUQHG GHQLDOV RI
SHUPLWV ILQGLQJ IRU H[DPSOH WKDW VDIHW\ FRQFHUQV DQG
DHVWKHWLFREMHFWLRQVUHVWHGRQKROORZJHQHUDOLWLHVDQGHPSW\
UHFRUGV´ 6SULQWFRP,QFY9LOODJHRI0XQGHOHLQ:/
DW 1',OO$XJXVW VWDWLQJWKDWWKH
³PHUH DOOHJDWLRQ WKDW RWKHU VLWHV ZHUH DYDLODEOH LV QRW
VXEVWDQWLDO HYLGHQFH´ ,RZD :LUHOHVV 6HUYLFHV Y &LW\ RI
0ROLQH)6XSSG &',OO ³$QXPEHU
RIGLVWULFWFRXUWVKDYHKHOGWKDWWKHJHQHUDOL]HGFRQFHUQVRI
FLWL]HQV DUH LQVXIILFLHQW WR ULVH WR WKH OHYHO RI VXEVWDQWLDO
HYLGHQFH´ ,Q DQ\ HYHQW ZH UHFRJQL]H WKDW FRQFHUQV RI
KHDOWK ULVNV GXH WR WKH HPLVVLRQV PD\ QRW FRQVWLWXWH
VXEVWDQWLDOHYLGHQFHLQVXSSRUWRIGHQLDOE\VWDWXWRU\UXOHDV
QRVWDWHRUORFDOJRYHUQPHQWRULQVWUXPHQWDOLW\WKHUHRIPD\
UHJXODWHWKHFRQVWUXFWLRQRISHUVRQDOZLUHOHVVIDFLOLWLHV³RQ
WKH EDVLV RI WKH HQYLURQPHQWDO HIIHFWV RI UDGLR IUHTXHQF\

-- 2 of 8 --

7HOHVSHFWUXP,QFY3XEOLF
6HUY&RPP¶QRI.<HWDO
1RV
RUGHUVOHVVWKDQILQDO´%HOOY1HZ-HUVH\86
:KHUH DV KHUH WKH RUGHU KDV WKH ³GLUHFW DQG
LPPHGLDWH´ HIIHFW RI GHQ\LQJ 7HOHVSHFWUXP SHUPLVVLRQ WR
FRQVWUXFWDWRZHUFOHDUO\DQLPSDFWRQ7HOHVSHFWUXP¶V³GD\
WRGD\ EXVLQHVV´ WKLV &RXUW VKRXOG QRW LQIHU D QRQILQDO
PHDQLQJWRWKHRWKHUZLVHSODLQODQJXDJHRIWKHRUGHU6HH
)UDQNOLQ Y 0DVVDFKXVHWWV 86
$EVHQWDQ\HYLGHQFHLQWKHRUGHUWKDWLWZDVLQWHQGHGWREH
WHPSRUDU\RULQWHUPHGLDWHZHFRQFOXGHWKDWWKH36&RUGHURI
-XQHZDVLQGHHGDILQDORUGHUXQGHU6HFWLRQ
8QGHU 86& † F % D GHFLVLRQ WR GHQ\ D
UHTXHVWWRFRQVWUXFW³SHUVRQDOZLUHOHVVVHUYLFHIDFLOLWLHVVKDOO
EHLQZULWLQJDQGVXSSRUWHGE\VXEVWDQWLDOHYLGHQFHFRQWDLQHG
LQDZULWWHQUHFRUG´86&† F % LLL 7KH7KLUG
&LUFXLWKDVREVHUYHGWKDW³VHFWLRQ F μLVDGHOLEHUDWH
FRPSURPLVH EHWZHHQ WZR FRPSHWLQJ DLPV ± WR IDFLOLWDWH
QDWLRQDOO\ WKH JURZWK RI ZLUHOHVV WHOHSKRQH VHUYLFH DQG WR
PDLQWDLQ VXEVWDQWLDO ORFDO FRQWURO RYHU VLWLQJ RI WRZHUV¶´
2PQLSRLQW&RUS,QFY=RQLQJ+HDULQJ%G)G
G&LU TXRWLQJ7RZQRI$PKHUVWY2PQLSRLQW
&RPP(QWHUV,QF)G VW&LU
2WKHUFRXUWVKDYHFRQFOXGHGWKDWWKH³VXEVWDQWLDOHYLGHQFH´
VWDQGDUGRIVHFWLRQLVWKHWUDGLWLRQDOVWDQGDUGHPSOR\HG
E\WKHFRXUWVIRUUHYLHZRIDJHQF\DFWLRQ6HH&HOOXODU7HO
&RY7RZQRI2\VWHU%D\)G G&LU
2PQLSRLQW&RUS)GDW$7 7:LUHOHVV
3&6Y:LQVWRQ6DOHP=RQLQJ%G)G WK
&LU $HJHUWHUY&LW\RI'HODILHOG)G
WK&LU 7KHOHJLVODWLYHKLVWRU\UHIOHFWVWKLVDVZHOO
VD\LQJWKDW³>W@KHSKUDVHμVXEVWDQWLDOHYLGHQFHFRQWDLQHGLQ
WKHZULWWHQUHFRUG¶LVWKHWUDGLWLRQDOVWDQGDUGXVHGIRUMXGLFLDO
UHYLHZ RI DJHQF\ DFWLRQV´ +5 &RQI 5HS 1R

6XEVWDQWLDO HYLGHQFH LV ³VXFK UHOHYDQW HYLGHQFH DV D
UHDVRQDEOH PLQG PLJKW DFFHSW DV DGHTXDWH WR VXSSRUW WKH
FRQFOXVLRQ´ &HOOXODU 7HO &R )G DW TXRWLQJ
1RV 7HOHVSHFWUXP,QFY3XEOLF
6HUY&RPP¶QRI.<HWDO

LQLWVDFWLRQIRULQMXQFWLYHUHOLHIWRSHUPLWFRQVWUXFWLRQRID
FHOOXODUFRPPXQLFDWLRQVWRZHU)RUWKHIROORZLQJUHDVRQV
ZH$)),50
,
2Q6HSWHPEHU7HOHVSHFWUXPDSSOLHGWRWKH3XEOLF
6HUYLFH&RPPLVVLRQRI.HQWXFN\ ³36&´ IRUD&HUWLILFDWHRI
3XEOLF&RQYHQLHQFHDQG1HFHVVLW\WRFRQVWUXFWDIRRWWDOO
ZLUHOHVV WHOHFRPPXQLFDWLRQV WRZHU LQ &DUWHU &RXQW\
.HQWXFN\7KHSURSRVHGVLWHIRUWKHWRZHU ³WKH*OREHVLWH´
LVLQDUXUDODUHDQRWVXEMHFWWRORFDO]RQLQJRURWKHUODQGXVH
UHTXLUHPHQWV 7KH VLWH LV KHDYLO\ ZRRGHG WKRXJK WKH
SUHGRPLQDQWODQGXVHDORQJERWKVLGHVRIWKHDGMDFHQWURDGLV
DJULFXOWXUDO7KHRQO\H[LVWLQJGHYHORSPHQWRQWKHVRXWKVLGH
RI WKH URDG FRQVLVWV RI IRXU VLQJOH IDPLO\ UHVLGHQFHV DOO
ORFDWHGPRUHWKDQRQHWKRXVDQGIHHWIURPWKHVLWH:LWKLQ
RQHWKRXVDQGIHHWRIWKHVLWHDUHWKHUHPDLQVRIDEXUQHGRXW
VLQJOH IDPLO\ UHVLGHQFH D \DUG FRQWDLQLQJ WHQ WR WZHOYH
DXWRPRELOHV LQ YDU\LQJ VWDWHV RI GLVUHSDLU D KRPH EXLOW
DURXQG D PDQXIDFWXUHG KRXVH DQG VXUURXQGHG E\ WLUHV DQG
GHEULV DQG WKH VLQJOH IDPLO\ UDQFK KRPH RI 0U DQG 0UV
'RQDOG&KDPEHUV7KH&KDPEHUV¶KRPHLVEHORZWKHJUDGH
RIWKHURDGDQGDSSUR[LPDWHO\IHHWIURPWKHSURSRVHGVLWH
IRUWKHWRZHU
7HOHVSHFWUXP LGHQWLILHG WKH *OREH VLWH IURP ILHOG
PHDVXUHPHQWV DQG D FRPSXWHU PRGHOLQJ SURJUDP 8VLQJ
PHDVXUHPHQWVRIVLJQDOVWUHQJWKDVHDUFKILUPGHWHUPLQHG
VHYHQSRVVLEOHORFDWLRQVZLWKLQWKHDUHDZKLFKFRXOGSURYLGH
DGHTXDWHFHOOXODUFRYHUDJHWRWKHFRPPXQLW\7HOHVSHFWUXP
VWDWHVWKDWLWLGHQWLILHGVHYHQSRVVLEOHVLWHVEXWODWHUGLVFDUGHG
IRXURIWKHPEHFDXVHWKH\ZHUHXQDYDLODEOH7HOHVSHFWUXP
GHWHUPLQHG EDVHG RQ IXUWKHU PRGHOLQJ LQYHVWLJDWLRQ DQG
JHRJUDSKLFLQIRUPDWLRQWKDWWZRRIWKHUHPDLQLQJWKUHHVLWHV
ZRXOG QRW EH DSSURSULDWH ,Q FRQWUDVW 7HOHVSHFWUXP¶V
LQYHVWLJDWLRQLQWRWKH*OREHVLWHFRQFOXGHGWKDWDWRZHUDWWKLV
ORFDWLRQZRXOGSURYLGHWKHEHVWVLJQDOTXDOLW\DQGFRYHUDJH
IRU WKH DUHD ZKLFK ZDV RWKHUZLVH ZLWKRXW ZLUHOHVV

-- 3 of 8 --

7HOHVSHFWUXP,QFY3XEOLF
6HUY&RPP¶QRI.<HWDO
1RV
FRPPXQLFDWLRQV7HOHVSHFWUXPDUUDQJHGWROHDVHWKH*OREH
VLWHIURPWKHODQGRZQHUV'RQDOGDQG0DU\%RQG
$V SDUW RI WKH 36& DSSOLFDWLRQ SURFHVV 7HOHVSHFWUXP
UHFHLYHGSHUPLWVIURPWKH)HGHUDO$YLDWLRQ$GPLQLVWUDWLRQ
DQGWKH.HQWXFN\$LUSRUW=RQLQJ&RPPLVVLRQWREXLOGDWWKH
*OREH 6LWH $GGLWLRQDOO\ 7HOHVSHFWUXP LQFOXGHG ZLWK LWV
DSSOLFDWLRQ D JHRWHFKQLFDO UHSRUW D 3KDVH DUFKHRORJLFDO
VXUYH\DODQGVXUYH\DVLWHSODQDQGSODQVDQGHQJLQHHULQJ
FDOFXODWLRQVIRUWKHWRZHUDQGLWVIRXQGDWLRQV
2Q 2FWREHU 0U DQG 0UV 'RQDOG &KDPEHUV
LQIRUPHG36&WKDWWKH\REMHFWHGWRWKHFRQVWUXFWLRQRIWKH
*OREH6LWHEDVLQJWKHLUFRPSODLQWRQ³KHDOWKGDQJHUVIURP
EHLQJH[SRVHGWRPLFURZDYHVHPLWWHGIURPWKHWRZHU´DQG
³GHFUHDVHLQRXUSURSHUW\YDOXH´ -$ 36&JUDQWHG
WKH&KDPEHUVIXOOLQWHUYHQWLRQLQWRWKHDSSOLFDWLRQSURFHVV
2Q0DUFKWKH0D\RURI2OLYH+LOOZURWHWRRSSRVH
WKHDSSOLFDWLRQEDVHGRQWKHFLW\¶VUHFHQWDFTXLVLWLRQRIODQG
LQ WKH DUHD IRU SUHVHUYDWLRQ SXUSRVHV +LV OHWWHU GLG QRW
LGHQWLI\ZLWKSDUWLFXODULW\WKHORFDWLRQRIWKHFLW\¶VSDUFHOQRU
GLGWKH0D\RUFKRRVHWRLQWHUYHQHRUWRVSHDNLQRSSRVLWLRQ
WRWKHDSSOLFDWLRQDWWKHKHDULQJWKHOHWWHUZDVQRWLQWURGXFHG
LQWRHYLGHQFHDWWKHKHDULQJ
2Q $SULO 36& FRQGXFWHG D SXEOLF KHDULQJ RQ
7HOHVSHFWUXP¶V DSSOLFDWLRQ 7HOHVSHFWUXP SUHVHQWHG
WHVWLPRQ\ E\ D UHDO HVWDWH VSHFLDOLVW DQG DQ HQJLQHHU ZKR
VSRNHDERXWWKHQHHGIRUDFHOOXODUVLWHLQWKHDUHDWKHSURFHVV
E\ZKLFKWKH*OREHVLWHZDVORFDWHGDQGVWDWHGWKDWEDVHGRQ
WKHLULQYHVWLJDWLRQVDQGH[SHULHQFHLQVLWLQJPRUHWKDQ
RWKHU WRZHUV HDFK WKHUH ZHUH QR RWKHU VLWHV DYDLODEOH WR
SURYLGHWKHUHTXLUHGFRYHUDJH7HOHVSHFWUXPDOVRLQWURGXFHG
D0DS'DWD,QIRUPDWLRQ6KHHWSUHSDUHGE\WKH.HQWXFN\6WDWH
1DWXUH3UHVHUYHV&RPPLVVLRQZKLFKGHPRQVWUDWHGWKDWWKH
WRZQRI2OLYH+LOO¶VSDUFHOZDVORFDWHGRQWKHRSSRVLWHVLGH
RI2OLYH+LOOIURPWKH*OREHVLWHVHYHUDOPLOHVDZD\'RQDOG
&KDPEHUVZDVWKHVROHZLWQHVVWRWHVWLI\LQRSSRVLWLRQWRWKH
1RV 7HOHVSHFWUXP,QFY3XEOLF
6HUY&RPP¶QRI.<HWDO

WK &LU ILQGLQJ WKDW PRQHWDU\ GDPDJHV DUH WKH
DUFKHW\SH RI UHWURDFWLYH UHOLHI EXW WKDW ³FRPSOLDQFH LQ WKH
IXWXUH´LVSURVSHFWLYHDQGGHQ\LQJWKHWUXHSDUW\LQLQWHUHVW
DUJXPHQW
%HFDXVHZHFRQFOXGHWKDWWKHGLVWULFWFRXUWSURSHUO\IRXQG
WKDWWKH([SDUWH<RXQJGRFWULQHVKRXOGDSSO\DQGWKDWWKH
IHGHUDO FRXUWV KDYH SURSHU MXULVGLFWLRQ RYHU WKLV FODLP ZH
DIILUPRQWKLVLVVXH
,,,
:H WXUQ WR &RPPLVVLRQHUV¶ FODLP WKDW WKH GLVWULFW FRXUW
LQFRUUHFWO\GHWHUPLQHGWKDW36&¶VGHFLVLRQZDVQRWVXSSRUWHG
E\VXEVWDQWLDOHYLGHQFH
:HQRWHILUVWWKDWWKH&RPPLVVLRQHUV¶DUJXPHQWWKDW36&¶V
RUGHURI-XQHGLGQRWFRQVWLWXWHD³)LQDO$FWLRQ´DV
UHTXLUHGE\86&† F % Y LVQRWVXSSRUWHGE\
WKH ODQJXDJH RI WKH RUGHU 7KH RUGHU VWDWHV WKDW ³>W@KH
&RPPLVVLRQ ILQGV WKDW WKH SXEOLF FRQYHQLHQFH DQG
QHFHVVLW\LVQRWVHUYHGE\JUDQWLQJWKLVFHUWLILFDWH´ -$
:H ILQG QRWKLQJ LQ WKLV ODQJXDJH VLJQDOLQJ WKDW WKH
RUGHULVDQLQWHULPRQHUDWKHULWVHHPVWRFOHDUO\VWDWHWKDWWKH
RUGHULVDGHQLDORIDFHUWLILFDWHWREXLOGWKHWRZHU:KLOHWKH
RUGHU VWDWHV IXUWKHU WKDW ³>L@W LV RUGHUHG WKDW 7HOHVSHFWUXP
VKRXOG FRQWLQXH WKLV FDVH DQG VHHN RWKHU ORFDWLRQV IRU WKH
*OREH VLWH´ ZH ILQG UHOLDQFH RQ WKH XVH RI WKH ZRUG
³FRQWLQXH´WREHXQSHUVXDVLYHLQOLJKWRIWKHDERYHTXRWHG
ODQJXDJHDQGWKHUHTXLUHPHQWWKDW7HOHVSHFWUXP³VHHNRWKHU
ORFDWLRQV´ ,G 7KH RUGHU FRQWDLQV QR ODQJXDJH ZKLFK
LQGLFDWHVWKDW36&ZLOOKHDUIXUWKHUHYLGHQFHDVWRWKH*OREH
VLWH RU WKDW WKH RUGHU ZLOO EH UHRSHQHG LI RWKHU VLWHV DUH
XQDFFHSWDEOH8QGHUH[LVWLQJODZDQ³DJHQF\DFWLRQPD\EH
ILQDOHYHQZKHQWKHFKDOOHQJHGGHFLVLRQLVQRWWKHODVWVWHSWKH
DJHQF\ ZLOO WDNH LQ WKH FDVH´ - 6WHLQ * 0LWFKHOO %
0H]LQHV$GPLQLVWUDWLYH/DZ†DW ³7KH
SRVVLELOLW\RIIXUWKHUSURFHHGLQJVLQWKHDJHQF\WRGHWHUPLQH
WKHPHWKRGRIUHSD\PHQWGRHVQRWLQRXUYLHZUHQGHUWKH

-- 4 of 8 --

7HOHVSHFWUXP,QFY3XEOLF
6HUY&RPP¶QRI.<HWDO
1RV
IHGHUDOMXULVGLFWLRQ 7UDYHOHUV,QGHP&RY0DGRQQD
)G WK&LU FRQFOXGLQJWKDWWKHIHGHUDO
GLVWULFWFRXUWVDUH³IXOO\FDSDEOH´RIGHFLGLQJ³URXWLQHLVVXHV
RIVWDWHODZ´
:H QRWH IRU WKH VDNH RI FRPSOHWH DQDO\VLV WKDW WKH
&RPPLVVLRQHUV¶FODLPVWKDWDSSOLFDWLRQRI([SDUWH<RXQJ
KHUH ZRXOG LPSURSHUO\ YLRODWH WKH GLVFUHWLRQ RI WKH VWDWH
RIILFHUVPXVWIDLO$VWKH6XSUHPH&RXUWVWDWHGLQWKDWFDVH
³>D@QLQMXQFWLRQWRSUHYHQW>WKHVWDWHRIILFLDO@IURPGRLQJWKDW
ZKLFKKHKDVQROHJDOULJKWWRGRLVQRWDQLQWHUIHUHQFHZLWK
WKHGLVFUHWLRQRIDQRIILFHU´([SDUWH<RXQJ86DW
VHH (OHSKDQW %XWWH ,UULJDWLRQ 'LVW Y 'HSDUWPHQW RI
,QWHULRU)G WK&LU ³([SDUWH<RXQJ
GRHVQRWH[WHQGWKLVJHQHUDOUXOHWRSUHFOXGHMXGLFLDOUHYLHZ
RIGLVFUHWLRQDU\DFWVWKDWYLRODWHIHGHUDOODZ´
6LPLODUO\WKH&RPPLVVLRQHUV¶DUJXPHQWWKDWDSSOLFDWLRQRI
([SDUWH<RXQJWRWKLVVLWXDWLRQZRXOGUHVXOWLQDPHPEHURI
D FRPPLVVLRQ GLVVHQWLQJ IURP D GHFLVLRQ DQG WKHQ EHLQJ
QDPHGDVDGHIHQGDQWLQDQDFWLRQXQGHU([SDUWH<RXQJLV
XQSHUVXDVLYH LQ OLJKW RI WKLV &RXUW¶V GHWHUPLQDWLRQ LQ
0LFKLJDQ%HOOWKDWDQ([SDUWH<RXQJDFWLRQZDVSURSHUHYHQ
WKRXJKRQHRIWKHGHIHQGDQWFRPPLVVLRQHUVKDGSUHYLRXVO\
GLVVHQWHG )G DW 1RU LV LW WKH FDVH WKDW
&RPPLVVLRQHUVFDQFODLPH[FHSWLRQIURP([SDUWH<RXQJE\
DUJXLQJWKH\DFWHGZLWKLQWKHLUGLVFUHWLRQDVJUDQWHGE\WKH
VWDWHDVWKH6XSUHPH&RXUWKDVVDLGWKDW³WKHVWDWHKDVQR
SRZHUWRLPSDUWWR>VWDWHRIILFLDOV@DQ\LPPXQLW\IURP
UHVSRQVLELOLW\WRWKHVXSUHPHDXWKRULW\RIWKH8QLWHG6WDWHV´
([ SDUWH <RXQJ 86 DW ,Q WKH VDPH OLJKW
&RPPLVVLRQHUV¶ DUJXPHQWV WKDW WKH\ DUH LPSURSHU SDUWLHV
EHFDXVH WKH\ FDQ DFW RQO\ DV D FRUSRUDWH ERG\ WKDW
7HOHVSHFWUXPLVQRWVHHNLQJSURVSHFWLYHUHOLHIDQGWKDWWKH
&RPPRQZHDOWKRI.HQWXFN\LVWKHUHDOSDUW\LQLQWHUHVWKDYH
EHHQFRQVLVWHQWO\UHMHFWHGE\WKHFRXUWV6HHHJ0LFKLJDQ
%HOO)GDW PDLQWDLQLQJXQGHU([SDUWH<RXQJDQ
DFWLRQDJDLQVWWKHLQGLYLGXDOPHPEHUVRIWKH0LFKLJDQ3XEOLF
6HUYLFH&RPPLVVLRQ 1HOVRQY0LOOHU)G
1RV 7HOHVSHFWUXP,QFY3XEOLF
6HUY&RPP¶QRI.<HWDO

DSSOLFDWLRQ VWDWLQJ KLV SHUVRQDO EHOLHI WKDW WKH
HOHFWURPDJQHWLF HPLVVLRQV IURP WKH WRZHUV PLJKW KDYH
DGYHUVHKHDOWKHIIHFWVDQGWKDWWKHYDOXHRIKLVKRPHZRXOG
GLPLQLVKLIWKHWRZHUZDVEXLOWRQWKH*OREHVLWH&KDPEHUV
DOVRWHVWLILHGWKDWKHEHOLHYHGWKHWRZHUFRXOGEHORFDWHGDW
IRXUVLWHVRWKHUWKDQWKH*OREHVLWHVKRZLQJSKRWRJUDSKVKH
KDG WDNHQ IURP KLV FDU DV HYLGHQFH &KDPEHUV GLG QRW
LQWURGXFHDQ\RWKHUVXSSRUWIRUWKLVVWDWHPHQW
,Q UHVSRQVH 7HOHVSHFWUXP LQWURGXFHG WHVWLPRQ\ IURP D
OLFHQVHG DSSUDLVHU ZKR VWDWHG WKDW DIWHU LQYHVWLJDWLQJ WKH
*OREHVLWHDQGVXUURXQGLQJHQYLURQVDQGLQFRQFHUWZLWKD
VWXG\RQWKHHIIHFWWRZHUVKDGRQVXUURXQGLQJSURSHUW\DWILYH
FRPSDUDEOHORFDWLRQVKHKDGFRQFOXGHGWKDWWKHSUHVHQFHRI
WKHWRZHUZRXOGQRWDIIHFWWKHPDUNHWYDOXHRIWKH&KDPEHUV¶
KRPH7HOHVSHFWUXPDOVRLQWURGXFHGWKHDIILGDYLWRIDQRWKHU
HQJLQHHUZKRVWDWHGWKDWH[SRVXUHWRWKHHPLVVLRQVIURPWKH
WRZHUZRXOGQRWEHKDUPIXO
7KH &RPPLVVLRQHUV HQWHUHG WKHLU RUGHU GHQ\LQJ
7HOHVSHFWUXP¶V DSSOLFDWLRQ RQ -XQH 7KH RUGHU
VWDWHG
$WWKHKHDULQJ0U&KDPEHUVUDLVHGREMHFWLRQVWRWKH
WRZHUEHLQJORFDWHGDGMDFHQWWRKLVSURSHUW\DQGKRPH
0U&KDPEHUVIXUWKHUSURGXFHGPXOWLSOHSRVVLEOHWRZHU
VLWHVRQWKH/HVVRU¶VSURSHUW\7KH&RPPLVVLRQLVDZDUH
WKDWFHOOVLWHFRQVWUXFWLRQLVH[HPSWIURPORFDO]RQLQJ
RUGLQDQFHV7KHUHIRUHLQFRQVLGHULQJWKHSXEOLFLQWHUHVW
ZLWK UHJDUG WR FHUWLILFDWHV RI 3XEOLF &RQYHQLHQFH DQG
1HFHVVLW\ LW FDQQRW GHFOLQH WR EH FRJQL]DQW RI DQG
VHQVLWLYH WR WKH FRQFHUQV RI UHVLGHQWV DQG ODQGRZQHUV
ZKRVHSURSHUW\LVDIIHFWHG
7KH&RPPLVVLRQKDYLQJFRQVLGHUHGWKHHYLGHQFHRI
UHFRUGDQGEDODQFLQJWKHLQWHUHVWVRIWKHDSSOLFDQWDJDLQVW
WKH LQWHUHVW RI WKH LQWHUYHQRU ILQGV WKDW WKH SXEOLF
FRQYHQLHQFHDQGQHFHVVLW\LVQRWVHUYHGE\JUDQWLQJWKLV
FHUWLILFDWH

-- 5 of 8 --

7HOHVSHFWUXP,QFY3XEOLF
6HUY&RPP¶QRI.<HWDO
1RV
,7 ,6 7+(5()25( 25'(5(' WKDW 7HOHVSHFWUXP
VKRXOGFRQWLQXHWKLVFDVHDQGVHHNRWKHUORFDWLRQVIRUWKH
*OREHVLWH
-$
7HOHVSHFWUXPILOHGDQDFWLRQLQWKH8QLWHG6WDWHV'LVWULFW
&RXUW IRU WKH (DVWHUQ 'LVWULFW RI .HQWXFN\ UHTXHVWLQJ
PDQGDPXV RU LQ WKH DOWHUQDWLYH GHFODUDWRU\ RU LQMXQFWLYH
UHOLHIDJDLQVWWKH3XEOLF6HUYLFH&RPPLVVLRQRI.HQWXFN\
DQG 'RQDOG DQG &RQQLH &KDPEHUV LQWHUYHQRUV LQ WKH
XQGHUO\LQJ 36& SURFHHGLQJ 36& PRYHG IRU GLVPLVVDO
DUJXLQJ WKDW WKH FRXUW ODFNHG VXEMHFW PDWWHU MXULVGLFWLRQ
EHFDXVH WKH -XQH RUGHU RI 36& ZDV QRW ILQDO
SXUVXDQWWR86&† F % DQGFODLPLQJ(OHYHQWK
$PHQGPHQWLPPXQLW\DVDQDUPRIWKHVWDWH7HOHVSHFWUXP
PRYHGWRDPHQGLWVFRPSODLQWWRQDPHWKHWKUHHPHPEHUVRI
36&%UHQGD-+HOWRQ(GZDUG-+ROPHVDQG*DU\:*LOOLV
³&RPPLVVLRQHUV´ DV DGGLWLRQDO GHIHQGDQWV 7KH GLVWULFW
FRXUWJUDQWHG7HOHVSHFWUXP¶VPRWLRQDQGDOVRJUDQWHG36&¶V
PRWLRQ WR GLVPLVV LQ SDUW ILQGLQJ WKDW WKH (OHYHQWK
$PHQGPHQWEDUUHGDFWLRQDJDLQVW36&EXWSHUPLWWHGDFWLRQ
DJDLQVWWKH&RPPLVVLRQHUV
7KH GLVWULFW FRXUW JUDQWHG VXPPDU\ MXGJPHQW WR
7HOHVSHFWUXPUHYHUVLQJ36&¶VRULJLQDORUGHUDQGRUGHULQJ
36& WR LVVXH 7HOHVSHFWUXP D &HUWLILFDWH RI 3XEOLF
&RQYHQLHQFHDQG1HFHVVLW\6HH7HOHVSHFWUXP,QFY3XEOLF
6HUYLFH &RP¶Q RI .HQWXFN\ )6XSSG ('.\
&RPPLVVLRQHUVILOHGDPRWLRQWRDOWHURUDPHQGWKH
MXGJPHQWZKLFKZDVGHQLHGDQGWKH\DSSHDOHGWRWKLV&RXUW
,,
7KLV &RXUW UHYLHZV WKH JUDQW RI VXPPDU\ MXGJPHQW GH
QRYR6HH6SLHVY9RLQRYLFK)G WK&LU
6XPPDU\MXGJPHQWLVSURSHUZKHQ³DSDUW\IDLOV
WRPDNHDVKRZLQJVXIILFLHQWWRHVWDEOLVKWKHH[LVWHQFHRIDQ
HOHPHQWHVVHQWLDOWRWKDWSDUW\¶VFDVHDQGRQZKLFKWKDWSDUW\
ZLOO EHDU WKH EXUGHQ RI SURRI DW WULDO´ &HORWH[ &RUS Y
1RV 7HOHVSHFWUXP,QFY3XEOLF
6HUY&RPP¶QRI.<HWDO

FRXUWVKDYHFRQVWUXHGVLPLODUSKUDVHVWRHQFRPSDVVERWKVWDWH
DQGIHGHUDOFRXUWV,Q$GDPVY0DU\ODQG86
WKH6XSUHPH&RXUWGHWHUPLQHGWKDWWKHSKUDVH³DQ\
FRXUW´ FRXOG QRW EH LQWHUSUHWHG WR PHDQ VROHO\ WKH IHGHUDO
FRXUWV³&RQJUHVVZDVZHOODZDUHWKDWDQRUGLQDU\SHUVRQ
ZRXOGUHDGWKHSKUDVH LQDQ\FRXUW WRLQFOXGHVWDWHFRXUWV7R
FRQVWUXHWKLVSKUDVHDVKDYLQJDQ\RWKHUPHDQLQJZRXOGPDNH
WKH $FW D WUDS IRU WKH XQZDU\´ ,G DFFRUG &ROOHFWRU Y
+XEEDUG 86 RYHUUXOHG RQ RWKHU
JURXQGVE\(LVQHUY0DFRPEHU86 QRWLQJ
WKDWWKHSKUDVH³DQ\FRXUWLQFOXGHVERWKVWDWHDQGIHGHUDO
FRXUWV´ 7KH )RXUWK &LUFXLW KDV VLPLODUO\ KHOG WKDW WKH
SKUDVH ³LQ DQ\ FRXUW RI FRPSHWHQW MXULVGLFWLRQ´ LQFOXGHV
IHGHUDOFRXUWV6HH-DPHV)UHHPDQ%URZQ&RY+DUULV
) WK&LU
&RPPLVVLRQHUVGRQRWSURYLGHVXSSRUWIRUWKHLUDUJXPHQW
WKDWKHUH³DQ\FRXUWRIFRPSHWHQWMXULVGLFWLRQ´PXVWPHDQ
RQO\VWDWHFRXUWVVLQFH&RQJUHVVGLGQRWH[SUHVVO\SUHHPSWDOO
VWDWHUHJXODWLRQJRYHUQLQJWKHVLWLQJRIZLUHOHVVIDFLOLWLHV:H
ILQGWKDW&RPPLVVLRQHUVIDLOWRDFFRXQWIRUWKHVXEVWDQWLDO
ERG\RIODZZKLFKSURYLGHVIRUFRQFXUUHQWVWDWHDQGIHGHUDO
MXULVGLFWLRQ RU H[FOXVLYH IHGHUDO MXULVGLFWLRQ ZKLOH
LQFRUSRUDWLQJ RU SUHVHUYLQJ VWDWH ODZ 6HH HJ $OOHQ Y
0F&XUU\86 ILQGLQJWKDW6HFWLRQ
DFWLRQVPD\EHEURXJKWLQHLWKHUVWDWHRUIHGHUDOFRXUWHYHQ
WKRXJK VWDWH ODZ GHILQHV WKH H[LVWHQFH DQG GLPHQVLRQ RI
SURSHUW\LQWHUHVWVSURYLGHGE\GXHSURFHVVDQGWKHDSSOLFDEOH
VWDWXWHRIOLPLWDWLRQV 86&† H SURYLGLQJIRU
H[FOXVLYHIHGHUDOMXULVGLFWLRQWRFRQVLGHUDSSHDOVIURPVWDWH
RUGHUV DSSURYLQJ LQWHUFRQQHFWLRQ DJUHHPHQWV GHVSLWH WKH
SUHVHUYDWLRQRIVWDWHDXWKRULW\WRHVWDEOLVKRWKHUUHTXLUHPHQWV
RI VWDWH ODZ LQ UHYLHZ RI DQ DJUHHPHQW XQGHU 86&
† H 6LPLODUO\ ZH QRWH WKDW &RPPLVVLRQHUV¶
DUJXPHQWFRQWDLQVDQXQFRQYLQFLQJSUHPLVHDVVHYHUDOFRXUWV
KDYHUHFRJQL]HGWKDWIHGHUDOFRXUWVUHJXODUO\GHWHUPLQHPDQ\
VWDWHODZLVVXHV6HH0RVHV+&RQH0HP¶O+RVSY0HUFXU\
&RQVWU&RUS86 ILQGLQJWKDWLWLVUDUHIRU
WKHH[LVWHQFHRIVWDWHODZLVVXHVWRFRPSHODILQGLQJRIODFNRI

-- 6 of 8 --

7HOHVSHFWUXP,QFY3XEOLF
6HUY&RPP¶QRI.<HWDO
1RV
RUDQ\LQVWUXPHQWDOLW\WKHUHRI´LQWKHODQJXDJHRIWKHVWDWXWRU\
VHFWLRQ 86& † F % Y 7KH\ DVVHUW WKDW
7HOHVSHFWUXP¶V DFWLRQ DPRXQWV WR D UHTXHVW IRU MXGLFLDO
FUHDWLRQRIDUHPHG\
:H DUH XQSHUVXDGHG 7KH VWDWXWH GRHV QRW QDPH RU
RWKHUZLVHOLPLWWKHDSSURSULDWHGHIHQGDQWVLQDQDFWLRQXQGHU
86&† F % 7KLV&RXUW³PXVWSUHVXPHWKDWD
OHJLVODWXUH VD\V LQ D VWDWXWH ZKDW LW PHDQV DQG PHDQV LQ D
VWDWXWHZKDWLWVD\V´&RQQHFWLFXW1DW¶O%DQNY*HUPDLQ
86 DFFRUG6FKUR\HUY)UDQNHO
)G WK&LU 7KLV&RXUWPD\QRWDPHQG
RUDGGWRWKHSODLQODQJXDJHRIDVWDWXWH6HH%DUWOLNY8QLWHG
6WDWHV 'HS¶W RI /DERU )G WK &LU
³:KHQZHFDQGLVFHUQDQXQDPELJXRXVDQGSODLQPHDQLQJ
IURP WKH ODQJXDJH RI WKH VWDWXWH RXU WDVN LV DW DQ HQG´
6LQFHWKHVWDWXWRU\ODQJXDJHGRHVQRWUHTXLUHWKDWWKHRQO\
SURSHU GHIHQGDQWV DUH WKDW 6WDWH ORFDO JRYHUQPHQW RU
LQVWUXPHQWDOLW\WKHUHRIZKLFKDFWHGLQFRQVLVWHQWO\ZLWKWKH
RWKHUSURYLVLRQVRIWKHVHFWLRQZHILQGWKDWLQVHUWLQJVXFKD
FODXVHLVQRWDVWDWXWRU\UHTXLUHPHQW:HQRWHWKDW0LFKLJDQ
%HOO DOWKRXJK FRQFHUQLQJ D VHSDUDWH SURYLVLRQ RI WKH
7HOHFRPPXQLFDWLRQ $FW RI LV FORVHO\ DQDORJRXV ,Q
0LFKLJDQ%HOOWKHUHOHYDQWVHFWLRQSURYLGHVWKDW³>L@QDQ\
FDVH LQ ZKLFK D 6WDWH &RPPLVVLRQ PDNHV D GHWHUPLQDWLRQ
XQGHU WKLV VHFWLRQ DQ\ SDUW\ DJJULHYHG E\ VXFK D
GHWHUPLQDWLRQPD\EULQJDQDFWLRQLQDQDSSURSULDWH)HGHUDO
'LVWULFW FRXUW´ 86& † H 7KLV &RXUW
GHWHUPLQHGWKDWWKLVODQJXDJHUHIHUULQJRQO\WRWKHGHFLVLRQ
RID6WDWH&RPPLVVLRQZDVQRWDEDUWRDQDFWLRQDJDLQVWWKH
LQGLYLGXDO&RPPLVVLRQHUVLQWKHLURIILFLDOFDSDFLWLHVXQGHU([
SDUWH<RXQJ6HH0LFKLJDQ%HOO)GDW
&RPPLVVLRQHUVDOVRDUJXHWKDWWKLV&RXUW GRHVQRWKDYH
SURSHUMXULVGLFWLRQRYHU7HOHVSHFWUXP¶VFRPSODLQWEHFDXVH
&RQJUHVV LQWHQGHG WKDW DQ DFWLRQ WR HQIRUFH 86&
† F % VKRXOGRQO\RFFXULQVWDWHFRXUWV7KHVWDWXWH
VWDWHV WKDW DQ DFWLRQ PD\ EH FRPPHQFHG ³LQ DQ\ FRXUW RI
FRPSHWHQWMXULVGLFWLRQ´86&† F % Y 2WKHU
1RV 7HOHVSHFWUXP,QFY3XEOLF
6HUY&RPP¶QRI.<HWDO

&DWUHWW 86 7KLV &RXUW DIILUPV
VXPPDU\MXGJPHQWZKHQ³WKHSOHDGLQJVGHSRVLWLRQVDQVZHUV
WRLQWHUURJDWRULHVDQGDGPLVVLRQVRQILOHWRJHWKHUZLWKWKH
DIILGDYLWVLIDQ\VKRZWKDWWKHUHLVQRJHQXLQHLVVXHDVWRDQ\
PDWHULDOIDFWDQGWKDWWKHPRYLQJSDUW\LVHQWLWOHGWRMXGJPHQW
DVDPDWWHURIODZ´)HG5&LY3 F
8QGHUWKHGRFWULQHRI([SDUWH<RXQJ86
VXLWVDJDLQVWVWDWHRIILFLDOVVHHNLQJHTXLWDEOHUHOLHI
IRURQJRLQJYLRODWLRQVRIIHGHUDOODZDUHQRWEDUUHGE\WKH
(OHYHQWK$PHQGPHQW6HH0LFKLJDQ%HOO7HO&RY&OLPD[
7HO&R)G WK&LU 7KH6XSUHPH&RXUW
KDV XQGHUVFRUHG WKH LPSRUWDQFH RI WKH ([ SDUWH <RXQJ
GRFWULQH VWDWLQJ LW LV DQ ³HVVHQWLDO SDUW´ RI (OHYHQWK
$PHQGPHQW MXULVSUXGHQFH DQG PXVW EH XSKHOG ³LI WKH
&RQVWLWXWLRQ >L@V WR UHPDLQ WKH VXSUHPH ODZ RI WKH ODQG´
$OGHQ Y 0DLQH 86 6&W
³$QDOOHJDWLRQRIDQRQJRLQJYLRODWLRQRIIHGHUDO
ODZ ZKHUH WKH UHTXHVWHG UHOLHI LV SURVSHFWLYH LV RUGLQDULO\
VXIILFLHQW WR LQYRNH WKH <RXQJ ILFWLRQ´ ,GDKR Y &RHXU
G¶$OHQH7ULEHRI,GDKR86 5HOLHI
XQGHU ([ SDUWH <RXQJ PD\ EH IRUHFORVHG LI WKH VWDWXWH LQ
TXHVWLRQ SURYLGHV ³D GHWDLOHG UHPHGLDO VFKHPH IRU WKH
HQIRUFHPHQWDJDLQVWD6WDWHRIDIHGHUDOO\FUHDWHGULJKW´LI
WKDW UHPHG\ LV ³VLJQLILFDQWO\ PRUH OLPLWHG WKDQ WKH
OLDELOLW\XSRQWKHVWDWHRIILFHUXQGHU([SDUWH<RXQJDQGLI
&RQJUHVV GLG QRW LQWHQG WR ³DXWKRUL]H IHGHUDO MXULVGLFWLRQ
XQGHU([SDUWH<RXQJRYHUDFDXVHRIDFWLRQZLWKDOLPLWHG
UHPHGLDOVFKHPH´6HPLQROH7ULEHRI)ORULGDY)ORULGD
86
,Q0LFKLJDQ%HOOWKLV&RXUWGHWHUPLQHGWKDWDQ(OHYHQWK
$PHQGPHQWGHIHQVHWRDVXLWDJDLQVWWKHFRPPLVVLRQHUVRI
WKH 0LFKLJDQ 3XEOLF 6HUYLFH &RPPLVVLRQ LQ WKHLU RIILFLDO
FDSDFLWLHVVHHNLQJGHFODUDWRU\DQGLQMXQFWLYHUHOLHIDJDLQVWWKH
HQIRUFHPHQWRID&RPPLVVLRQGHFLVLRQFRXOGEHDQDO\]HGDV
D³VWUDLJKWIRUZDUG([SDUWH<RXQJFDVH´)GDW
&LWLQJWRUHFHQW6XSUHPH&RXUWSUHFHGHQWDQGWRRWKHUFRXUWV
WKLV&RXUWQRWHGWKDWWKHSODLQWLIILQ0LFKLJDQ%HOOKDGDOOHJHG

-- 7 of 8 --

7HOHVSHFWUXP,QFY3XEOLF
6HUY&RPP¶QRI.<HWDO
1RV
7KLV VHFWLRQ VWDWHV LQ SHUWLQHQW SDUW DV IROORZV
3UHVHUYDWLRQ RI ORFDO ]RQLQJ DXWKRULW\

% /LPLWDWLRQV
L 7KH UHJXODWLRQ RI WKH SODFHPHQW FRQVWUXFWLRQ DQG
PRGLILFDWLRQ RI SHUVRQDO ZLUHOHVV VHUYLFH IDFLOLWLHV E\ DQ\
6WDWH RU ORFDO JRYHUQPHQW RU LQVWUXPHQWDOLW\ WKHUHRI±
, VKDOO QRW XQUHDVRQDEO\ GLVFULPLQDWH DPRQJ SURYLGHUV RI
IXQFWLRQDOO\ HTXLYDOHQW VHUYLFHV DQG
,, VKDOO QRW SURKLELW RU KDYH WKH HIIHFW RI SURKLELWLQJ WKH
SURYLVLRQ RI SHUVRQDO ZLUHOHVV VHUYLFHV
LL $ 6WDWH RU ORFDO JRYHUQPHQW RU LQVWUXPHQWDOLW\ WKHUHRI VKDOO
DFW RQ DQ\ UHTXHVW IRU DXWKRUL]DWLRQ WR SODFH FRQVWUXFW RU
PRGLI\ SHUVRQDO ZLUHOHVV VHUYLFH IDFLOLWLHV ZLWKLQ D
UHDVRQDEOH SHULRG RI WLPH DIWHU WKH UHTXHVW LV GXO\ ILOHG ZLWK
VXFK JRYHUQPHQW RU LQVWUXPHQWDOLW\ WDNLQJ LQWR DFFRXQW WKH
QDWXUH DQG VFRSH RI VXFK UHTXHVW
LLL $Q\ GHFLVLRQ E\ D 6WDWH RU ORFDO JRYHUQPHQW RU
LQVWUXPHQWDOLW\ WKHUHRI WR GHQ\ D UHTXHVW WR SODFH FRQVWUXFW
RU PRGLI\ SHUVRQDO ZLUHOHVV VHUYLFH IDFLOLWLHV VKDOO EH LQ
ZULWLQJ DQG VXSSRUWHG E\ VXEVWDQWLDO HYLGHQFH FRQWDLQHG LQ
D ZULWWHQ UHFRUG
LY 1R 6WDWH RU ORFDO JRYHUQPHQW RU LQVWUXPHQWDOLW\ WKHUHRI PD\
UHJXODWH WKH SODFHPHQW FRQVWUXFWLRQ DQG PRGLILFDWLRQ RI
WKDWWKHFRPPLVVLRQHUVYLRODWHGWKH7HOHFRPPXQLFDWLRQV$FW
RIE\HQIRUFLQJDQDJUHHPHQWZKLFKLVLWVHOIDYLRODWLRQ
RIIHGHUDOODZ,GDW7KLV&RXUWFRQFOXGHGWKDWVXFK
DQDUJXPHQWZDVVXIILFLHQWWRVWDWHDFODLPDVDPDWWHURIODZ
,G DW 0RUHRYHU WKLV &RXUW LQWHUSUHWHG WKH 6XSUHPH
&RXUW¶VGHFLVLRQLQ$OGHQWRKROGWKDW³VRYHUHLJQLPPXQLW\
GRHV QRW EDU FHUWDLQ DFWLRQV DJDLQVW VWDWH RIILFHUV IRU
LQMXQFWLYHRUGHFODUDWRU\UHOLHI´,GDW
,QWKLVFDVH7HOHVSHFWUXPLVVHHNLQJDQRUGHUWRGLUHFWWKH
&RPPLVVLRQHUV LQ WKHLU RIILFLDO FDSDFLW\ WR LVVXH WKH
QHFHVVDU\DXWKRUL]DWLRQVSHUPLWWLQJLWWRFRQVWUXFWWKHWRZHU
7HOHVSHFWUXPLVQRWVHHNLQJFRPSHQVDWLRQIRUORVWSURILWVLW
LV FODLPLQJ WKDW E\ IDLOLQJ WR JUDQW WKH DSSOLFDWLRQ WKH
&RPPLVVLRQHUV DUH FRQWLQXLQJ WR YLRODWH 86&
† F % &RPPLVVLRQHUV GR QRW SRLQW WR DQG ZH
1RV 7HOHVSHFWUXP,QFY3XEOLF
6HUY&RPP¶QRI.<HWDO

SHUVRQDO ZLUHOHVV VHUYLFH IDFLOLWLHV RQ WKH EDVLV RI WKH
HQYLURQPHQWDO HIIHFWV RI UDGLR IUHTXHQF\ HPLVVLRQV WR WKH
H[WHQW WKDW VXFK IDFLOLWLHV FRPSO\ ZLWK WKH &RPPLVVLRQ V
UHJXODWLRQV FRQFHUQLQJ VXFK HPLVVLRQV
Y $Q\ SHUVRQ DGYHUVHO\ DIIHFWHG E\ DQ\ ILQDO DFWLRQ RU IDLOXUH
WR DFW E\ D 6WDWH RU ORFDO JRYHUQPHQW RU DQ\ LQVWUXPHQWDOLW\
WKHUHRI WKDW LV LQFRQVLVWHQW ZLWK WKLV VXESDUDJUDSK PD\
ZLWKLQ GD\V DIWHU VXFK DFWLRQ RU IDLOXUH WR DFW FRPPHQFH
DQ DFWLRQ LQ DQ\ FRXUW RI FRPSHWHQW MXULVGLFWLRQ 7KH FRXUW
VKDOO KHDU DQG GHFLGH VXFK DFWLRQ RQ DQ H[SHGLWHG EDVLV
$Q\ SHUVRQ DGYHUVHO\ DIIHFWHG E\ DQ DFW RU IDLOXUH WR DFW E\
D 6WDWH RU ORFDO JRYHUQPHQW RU DQ\ LQVWUXPHQWDOLW\ WKHUHRI
WKDW LV LQFRQVLVWHQW ZLWK FODXVH LY PD\ SHWLWLRQ WKH
&RPPLVVLRQ IRU UHOLHI
FRXOGQRWLGHQWLI\DQ\FRQWUROOLQJDXWKRULW\ZKLFKZRXOGKROG
WKDW &RQJUHVV¶ IDLOXUH WR QDPH LQGLYLGXDOV LQ D VWDWXWH LV
VLQJXODUO\ VXIILFLHQW WR EDU UHOLHI XQGHU ([ SDUWH <RXQJ
7KHUHIRUH IROORZLQJ 0LFKLJDQ %HOO ZH FRQFOXGH WKDW
7HOHVSHFWUXPKDVVKRZQWKDWLWVFODLPLVZLWKLQWKH([SDUWH
<RXQJGRFWULQH
8QOLNH WKH VWDWXWRU\ VFKHPH DW LVVXH LQ 6HPLQROH 7ULEH
VHFWLRQ F % GRHVQRWSURYLGHIRUHLWKHUD³GHWDLOHG´
RU DQ ³LQWULFDWH´ UHJXODWRU\ VFKHPH 7KH VHFWLRQ SURYLGHV
RQO\WKDWDFWLRQPD\EHPDLQWDLQHGLQ³DQ\FRXUWRIFRPSHWHQW
MXULVGLFWLRQ´EXWGRHVQRWSURYLGHIRUDPHGLDWLRQSURFHVV
PDQGDWHQHJRWLDWLRQVLPSRVHDVKLIWLQJEXUGHQRISURRIRU
SHUPLWWKHSURPXOJDWLRQRIUHJXODWLRQVE\DIHGHUDORIILFLDOWR
UHVROYHDVSHFLILFGLVSXWH1RUGRHVWKLVVHFWLRQSURYLGHIRU
DUHPHG\PRUHOLPLWHGWKDQRUPDWHULDOO\GLIIHUHQWIURPWKDW
DYDLODEOHXQGHU([SDUWH<RXQJ:HWKHUHIRUHFRQFOXGHWKDW
WKHVHGLVWLQFWLRQVDUHVXIILFLHQWWRILQGWKDWWKLVFDVHGRHVQRW
IDOO ZLWKLQ WKH 6HPLQROH 7ULEH H[FHSWLRQ WR WKH ([ SDUWH
<RXQJGRFWULQH
7KH&RPPLVVLRQHUVQH[WDUJXHWKDW&RQJUHVVKDVOLPLWHG
DFWLRQVWRHQIRUFH86&† F % WRWKRVHWKDWFDQ
EHEURXJKWDJDLQVWVWDWHVRUORFDOJRYHUQPHQWVE\UHIHUULQJWR
³WKHILQDODFWLRQRUIDLOXUHWRDFWE\VWDWHRUORFDOJRYHUQPHQW

-- 8 of 8 --

Setzen Sie Ihre Recherche in ChatGPT oder Claude fort

Verbinden Sie Omnilex, um den Rechtskorpus über Ihren KI-Assistenten zu durchsuchen.