02a0208p.06

00-6008; 00-6069Court of Appeals for the Sixth CircuitJun 12, 2002

Full text


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
)$ :,/+(/0
&216758&7,21 &2 ,1&
3ODLQWLII$SSHOOHH
&URVV$SSHOODQW
Y
.(178&.< 67$7( ',675,&7
&281&,/ 2) &$53(17(56
$)/&,2
'HIHQGDQW$SSHOODQW
&URVV$SSHOOHH
;!

1
1RV
$SSHDOIURPWKH8QLWHG6WDWHV'LVWULFW&RXUW
IRUWKH:HVWHUQ'LVWULFWRI.HQWXFN\DW/RXLVYLOOH
1R²-RKQ*+H\EXUQ,,&KLHI'LVWULFW-XGJH
$UJXHG1RYHPEHU
'HFLGHGDQG)LOHG-XQH
%HIRUH0(55,77&/$<DQG*,/0$1&LUFXLW-XGJHV
BBBBBBBBBBBBBBBBB
&2816(/
$5*8(' $OWRQ ' 3ULGG\ 35,''< ,6(1%(5*
0,//(5 0($'(/RXLVYLOOH.HQWXFN\IRU$SSHOODQW

-- 1 of 8 --

)$:LOKHOP&RQVWUXFWLRQ&R
,QFY.<6WDWH'LVWULFW&RXQFLO
RI&DUSHQWHUV
1RV
-DPHV86PLWK60,7+ 60,7+/RXLVYLOOH.HQWXFN\IRU
$SSHOOHH 21 %5,() $OWRQ ' 3ULGG\ 35,''<
,6(1%(5* 0,//(5 0($'( /RXLVYLOOH .HQWXFN\
7KRPDV - 6FKXO] .(178&.< 67$7( ',675,&7
&281&,/ 2) &$53(17(56 )UDQNIRUW .HQWXFN\ IRU
$SSHOODQW-DPHV86PLWK60,7+ 60,7+/RXLVYLOOH
.HQWXFN\IRU$SSHOOHH
0(55,77-GHOLYHUHGWKHRSLQLRQRIWKHFRXUWLQZKLFK
&/$< - MRLQHG *,/0$1 - SS GHOLYHUHG D
VHSDUDWHRSLQLRQFRQFXUULQJLQSDUWDQGGLVVHQWLQJLQSDUW
BBBBBBBBBBBBBBBBB
23,1,21
BBBBBBBBBBBBBBBBB
0(55,77&LUFXLW-XGJH7KLVLVD³VHFRQGDU\ER\FRWW´
FDVH LQ ZKLFK WKH GHIHQGDQW XQLRQ FKDOOHQJHV WKH GLVWULFW
FRXUW¶V ILQGLQJ RI DQ XQODZIXO VHFRQGDU\ ER\FRWW DQG WKH
DZDUGRILQGDPDJHVDQGWKHSODLQWLII:LOKHOP
&RQVWUXFWLRQ FURVVDSSHDOV WKH FRXUW¶V IDLOXUH WR DZDUG LW
PRUH GDPDJHV ,Q D ³VHFRQGDU\ ER\FRWW´ D XQLRQ EULQJV
HFRQRPLF SUHVVXUH WR EHDU RQ D ³SULPDU\ HPSOR\HU´ WR GR
VRPHWKLQJWKHXQLRQZDQWVVD\WRDJUHHWRDXQLRQFRQWUDFW
E\LQGXFLQJD³VHFRQGDU\HPSOR\HU´GRLQJEXVLQHVVZLWK
WKH SULPDU\ HPSOR\HU WR EULQJ HFRQRPLF SUHVVXUH RQ WKH
SULPDU\HPSOR\HUVD\WRVWRSGRLQJDQ\IXUWKHUEXVLQHVV
ZLWKWKHHPSOR\HU8QGHU† E RIWKH7DIW+DUWOH\$FWRI
D VHFRQGDU\ ER\FRWW LV LOOHJDO LI WKH XQLRQ VHHNV WR
SHUVXDGH VHFRQGDU\ HPSOR\HHV WR ER\FRWW WKH SULPDU\
HPSOR\HUEXWLWLVQRWLOOHJDOLIWKHVHFRQGDU\HPSOR\HHVDFW
SXUHO\RQWKHLURZQLQLWLDWLYHWRER\FRWWWKHVHUYLFHVRIWKH

-- 2 of 8 --

)$:LOKHOP&RQVWUXFWLRQ&R
,QFY.<6WDWH'LVWULFW&RXQFLO
RI&DUSHQWHUV
1RV
VSHFXODWLYH GDPDJHV´ $EVHQW HYLGHQFH WKDW :LOKHOP
VXIIHUHG DQ DFWXDO ORVV DV D UHVXOW RI QRW XVLQJ WKH UHQWHG
HTXLSPHQWGXULQJWKHVWULNHWKHDZDUGRIGDPDJHVDSSURYHG
E\WKHPDMRULW\DSSHDUVWREHJURXQGHGLQVSHFXODWLRQDQG
SRWHQWLDOO\SURYLGHV:LOKHOPZLWKDZLQGIDOODWWKHH[SHQVH
RI WKH 8QLRQ , WKHUHIRUH GLVDJUHH ZLWK WKH PDMRULW\¶V
FRQFOXVLRQ WKDW :LOKHOP HVWDEOLVKHG LWV ULJKW WR UHFRYHU
GDPDJHVEDVHGXSRQWKHORVWXVHRIWKHUHQWHGHTXLSPHQW2Q
WKHRWKHUKDQG,KDYHQRTXDUUHOZLWKWKHDXWKRULWLHVUHOLHG
XSRQE\WKHPDMRULW\LQDZDUGLQJ:LOKHOPGDPDJHVIRUWKH
ORVWXVHRILWVRZQHTXLSPHQW
,QVXP,ZRXOGDIILUPWKHGLVWULFWFRXUW¶VFRQFOXVLRQWKDW
WKH8QLRQYLRODWHG† E RIWKH1/5$EXWZRXOGUHPDQG
IRUDUHYLVHGFDOFXODWLRQRIGDPDJHVEHFDXVHRI:LOKHOP¶V
IDLOXUHWRDGHTXDWHO\SURYHDQDFWXDOORVVUHVXOWLQJIURPWKH
UHQWHGHTXLSPHQWVLWWLQJLGOHGXULQJWKHVWULNH
1RV )$:LOKHOP&RQVWUXFWLRQ&R
,QFY.<6WDWH'LVWULFW&RXQFLO
RI&DUSHQWHUV

6HFWLRQ E RI WKH 1DWLRQDO /DERU 5HODWLRQV $FW DV DPHQGHG
SURYLGHV WKDW LW VKDOO EH DQ XQIDLU ODERU SUDFWLFH IRU D XQLRQ RU LWV DJHQWV
WR WKUHDWHQ FRHUFH RU UHVWUDLQ DQ\ SHUVRQ HQJDJHG LQ FRPPHUFH
RU LQ DQ LQGXVWU\ DIIHFWLQJ FRPPHUFH ZKHUH LQ HLWKHU FDVH DQ
REMHFW WKHUHRI LV

IRUFLQJ RU UHTXLULQJ DQ\ SHUVRQ WR FHDVH GRLQJ EXVLQHVV ZLWK
DQ\ RWKHU SHUVRQ RU IRUFLQJ RU UHTXLULQJ DQ\ RWKHU HPSOR\HU WR
UHFRJQL]H RU EDUJDLQ ZLWK D ODERU RUJDQL]DWLRQ DV WKH
UHSUHVHQWDWLYH RI KLV HPSOR\HHV XQOHVV VXFK ODERU RUJDQL]DWLRQ
KDV EHHQ FHUWLILHG DV WKH UHSUHVHQWDWLYH RI VXFK HPSOR\HHV
3URYLGHG 7KDW QRWKLQJ FRQWDLQHG LQ WKLV FODXVH % VKDOO EH
FRQVWUXHG WR PDNH XQODZIXO ZKHUH QRW RWKHUZLVH XQODZIXO DQ\
SULPDU\ VWULNH RU SULPDU\ SLFNHWLQJ
86& † E LL %
SULPDU\HPSOR\HU/RFDO,QW¶O8QLRQRI(OHF5DGLR
0DFK:RUNHUVY1/5%86
,Q WKLV FDVH WKH XQLRQ DUJXHV WKDW WKH HPSOR\HHV RI WKH
VHFRQGDU\HPSOR\HU:LOKHOP&RQVWUXFWLRQDFWHGRQWKHLU
RZQLQLWLDWLYHDJDLQVWWKHSULPDU\HPSOR\HU'DQW&OD\WRQ
:HFRQFOXGHWKDWWKHGLVWULFWFRXUWZDVFRUUHFWLQLWVILQGLQJ
RIDQLOOHJDOVHFRQGDU\ER\FRWWEXWUHPDQGWKHFDVHIRUDQ
DGMXVWPHQWDQGUHFDOFXODWLRQRIRQHHOHPHQWRIWKHGDPDJH
DZDUG
,)$&76
3ODLQWLII)$:LOKHOP&RQVWUXFWLRQ&RPSDQ\,QFEURXJKW
WKLVDFWLRQDJDLQVW'HIHQGDQW.HQWXFN\6WDWH'LVWULFW&RXQFLO
RI&DUSHQWHUV$)/&,2DXQLRQUHSUHVHQWLQJFDUSHQWHUVLQ
WKH /RXLVYLOOH DUHD :LOKHOP FRQWHQGV WKDW LW ZDV LQMXUHG
ZKHQWKHXQLRQHQFRXUDJHGDQLOOHJDOVHFRQGDU\ER\FRWWDQG
YLRODWHG D QRVWULNH FODXVH LQ WKH FROOHFWLYH EDUJDLQLQJ
DJUHHPHQWEHWZHHQWKHSDUWLHV

-- 3 of 8 --

)$:LOKHOP&RQVWUXFWLRQ&R
,QFY.<6WDWH'LVWULFW&RXQFLO
RI&DUSHQWHUV
1RV
,Q:LOKHOPZDVDFRQWUDFWRUIRUWKHFRQVWUXFWLRQRI
WKH8QLYHUVLW\RI/RXLVYLOOH¶VQHZVWDGLXP:LOKHOPZDV
UHVSRQVLEOH IRU FRQVWUXFWLQJ D SRUWLRQ RI WKH VWDGLXP¶V
FRQFUHWH VXSHUVWUXFWXUH DQG HQWHUHG LQWR D FROOHFWLYH
EDUJDLQLQJDJUHHPHQWZLWKGHIHQGDQWXQLRQFRYHULQJZRUNLQ
WKH/RXLVYLOOHDUHDLQFOXGLQJLWVSRUWLRQRIWKHVWDGLXPZRUN
7KHLQVWDOODWLRQRIWKHVWDGLXPVHDWLQJZDVDZDUGHGWR'DQW
&OD\WRQ D ORFDO VHDWLQJ PDQXIDFWXUHU 'HVSLWH GHIHQGDQW
XQLRQ¶V HIIRUWV 'DQW ZRXOG QRW HQWHU LQWR D FROOHFWLYH
EDUJDLQLQJ DJUHHPHQW ZLWK LW 'DQW VXEFRQWUDFWHG WKH
LQVWDOODWLRQ RI WKH VHDWV WR 'DLOH\ 6HDWLQJ &RPSDQ\ EXW
GHIHQGDQW XQLRQ ZDV DOVR XQVXFFHVVIXO LQ HQWHULQJ LQWR D
XQLRQFRQWUDFWZLWK'DLOH\
2Q 'HFHPEHU GHIHQGDQW WROG 'DLOH\WKDWWKHUH
ZRXOG EH D SLFNHW OLQH HVWDEOLVKHG DJDLQVW LW WKH IROORZLQJ
PRUQLQJ8QLRQUHSUHVHQWDWLYHVZDONHGDURXQGWKHSURMHFW
ODWHUWKDWGD\DGYLVLQJDOOXQLRQPHPEHUVLQFOXGLQJ:LOKHOP
ZRUNHUV WKDW SLFNHWLQJ ZRXOG EHJLQ DJDLQVW 'DLOH\ WKH
IROORZLQJGD\DQGUHTXHVWLQJYROXQWHHUVWRVWDIIWKHSLFNHW
OLQH7KHXQLRQVSHFLILFDOO\UHTXHVWHG:LOKHOPZRUNHUVWR
MRLQ WKH SLFNHW OLQH $ XQLRQ ZDOOHW FDUG ZDV GLVWULEXWHG
VWDWLQJ RQ RQH VLGH ³*22' 81,21 %8,/',1*
75$'(60(1 GR QRW ZRUN EHKLQG EDQQHUV HYHQ ZLWK
JDWHV´7KHRWKHUVLGHUHDG
:KLFKVLGHDUH\RXRQ"3LFNHWLQJKDVEHHQGHVFULEHGE\
WKH 6XSUHPH &RXUW DV WKH ³ZRUNLQJ PDQ¶V PHDQV RI
FRPPXQLFDWLRQ´$SLFNHWLVDPHVVDJHWR\RXWKDWVRPH
RI\RXUIHOORZZRUNHUVDUHHQJDJHGLQDODERUGLVSXWHDQG
QHHG \RXU KHOS ,W LV \RXU FRQVWLWXWLRQDO ULJKW DV DQ
$PHULFDQFLWL]HQWRGHFLGHKRZ\RXZLOOUHVSRQGWRWKDW
SLFNHW8QGHUWKHODZ\RXUXQLRQFDQQRWKHOS\RXPDNH
WKDWGHFLVLRQ<RXFDQVHHNJXLGDQFHRQO\IURP\RXU
FRQVFLHQFHWKHQGHFLGH³:KLFKVLGHDP,RQ"´
,QUHVSRQVHWRWKHXQLRQ¶VDFWLYLWLHVWKHSURMHFWPDQDJHUVHW
XS D ³UHVHUYH JDWH V\VWHP´ DQG ID[HG D OHWWHU WR WKH XQLRQ
1RV )$:LOKHOP&RQVWUXFWLRQ&R
,QFY.<6WDWH'LVWULFW&RXQFLO
RI&DUSHQWHUV

WKDQDPRQWKEHIRUHWKHSLFNHWOLQHEHJDQWKDWVWDWHG³*22'
81,21 %8,/',1* 75$'(60(1 GR QRW ZRUN EHKLQG
EDQQHUVHYHQZLWKJDWHV´WKHUHE\LPSOLFLWO\FDOOLQJRQLWV
PHPEHUVZKRZRUNHGIRUVHFRQGDU\HPSOR\HUVWRMRLQDQ\
VWULNHWKDWPLJKWWDNHSODFHDWWKHFRQVWUXFWLRQVLWH7KHFDUG
DOVRVWDWHGWKDWWKH8QLRQFRXOGQRWDGYLVHLWVPHPEHUVZKDW
WRGREXWDQ\PHPEHUUHDGLQJWKHFDUGZRXOGOLNHO\LQWHUSUHW
LWVRYHUDOOHIIHFWDV³DZLQNDQGDQRG´WRMRLQWKHVWULNHLIDQG
ZKHQ LW ZDV FDOOHG $FFRUGLQJO\ , DP QRW OHIW ZLWK WKH
³GHILQLWHDQGILUPFRQYLFWLRQ´WKDWWKHGLVWULFWFRXUWHUUHGLQ
LQIHUULQJIURPWKHVHIDFWVWKDWWKH8QLRQLQWHQGHGWRFRQGXFW
D VHFRQGDU\ ER\FRWW LQ YLRODWLRQ RI † E 6DQIRUG Y
+DUYDUG ,QGXV ,QF )G WK &LU
QRWLQJWKDWDIDFWXDOILQGLQJLVFOHDUO\HUURQHRXVRQO\LIWKH
UHYLHZLQJFRXUWLV³OHIWZLWKWKHGHILQLWHDQGILUPFRQYLFWLRQ
WKDWDPLVWDNHKDVEHHQFRPPLWWHG´
, DPFRQYLQFHGKRZHYHUWKDWWKHGLVWULFWFRXUWHUUHGLQ
DZDUGLQJ GDPDJHV WR :LOKHOP IRU WKH ORVW XVH RI WKH
HTXLSPHQWWKDWLWKDGUHQWHGIRUWKHFRQVWUXFWLRQSURMHFW7KH
PDMRULW\UHDFKHVWKHRSSRVLWHFRQFOXVLRQUHDVRQLQJWKDWWKH
GLVWULFWFRXUWSURSHUO\DZDUGHG:LOKHOPDSURUDWHGDPRXQWRI
WKHPRQWKO\UHQWDOFRVWRIWKHHTXLSPHQWWKDWVDWLGOH%XW
:LOKHOP QHYHU RIIHUHG SURRI WKDW LW ZDV UHTXLUHG WR SD\ D
SHQQ\PRUHLQUHQWDOIHHVEHFDXVHRIWKHVWULNHLQGXFHGGHOD\
LQFRQVWUXFWLRQ7KHUHFRUGPRUHRYHUSURYLGHVQRVXSSRUW
IRUWKHPDMRULW\¶VDVVHUWLRQWKDWWKLVHTXLSPHQW³OLNHO\FRXOG
KDYH EHHQ XVHG RQ DQRWKHU MRE VLWH´ 0DM 2S DW
)XUWKHUPRUH DV RSSRVHG WR LWV RZQ HTXLSPHQW :LOKHOP
QHLWKHULQFXUUHGGHSUHFLDWLRQFRVWVQRUORVWSRWHQWLDOUHQWDO
LQFRPH DV D UHVXOW RI WKH ERUURZHG HTXLSPHQW VLWWLQJ LGOH
GXULQJWKHVL[DQGRQHKDOIGD\VRIWKHVWULNH
$ GDPDJH DZDUG PXVW EH EDVHG XSRQ PRUH WKDQ
VSHFXODWLRQ6HH1/5%Y)HUJXVRQ(OHF&R,QF)G
G &LU ³$ EDFNSD\ DZDUG PXVW EH
VXIILFLHQWO\WDLORUHGWRUHPHG\RQO\WKHDFWXDOFRQVHTXHQFHV
RI DQ XQIDLU ODERU SUDFWLFH DQG VKRXOG QRW DGGUHVV SXUHO\

-- 4 of 8 --

)$:LOKHOP&RQVWUXFWLRQ&R
,QFY.<6WDWH'LVWULFW&RXQFLO
RI&DUSHQWHUV
1RV
BBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBB
&21&855,1*,13$57',66(17,1*,13$57
BBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBBB
521$/'/((*,/0$1&LUFXLW-XGJHFRQFXUULQJLQSDUW
DQGGLVVHQWLQJLQSDUW,FRQFXUZLWKWKHPDMRULW\¶VKROGLQJ
WKDWWKHGLVWULFWFRXUWGLGQRWFOHDUO\HUULQFRQFOXGLQJWKDWWKH
.HQWXFN\6WDWH'LVWULFW&RXQFLORI&DUSHQWHUV$)/&,2 WKH
8QLRQ YLRODWHG† E RIWKH1DWLRQDO/DERU5HODWLRQV$FW
1/5$ EXWZULWHVHSDUDWHO\WRH[SUHVVP\YLHZZLWKUHJDUG
WRWKHSURSHUVFRSHRIWKDWKROGLQJ,QDGGLWLRQ,UHVSHFWIXOO\
GLVVHQWLQSDUWIURPWKHPDMRULW\¶VFDOFXODWLRQRIWKHGDPDJHV
RZHG)$:LOKHOP&RQVWUXFWLRQ&RPSDQ\,QF :LOKHOP
EHFDXVHRIWKH8QLRQ¶V† E YLRODWLRQ
7KHGLVWULFWFRXUWIRXQGWKDWWKH8QLRQLQWHQGHGWRFRQGXFW
D VHFRQGDU\ ER\FRWW ZKHQ LW DVNHG DOO RI LWV PHPEHUV
LQFOXGLQJWKRVHHPSOR\HGE\:LOKHOPWRKHOSVWDIIDSLFNHW
OLQHVHWXS DJDLQVWWZRQRQXQLRQHPSOR\HUV'DQW&OD\WRQ
&RPSDQ\ 'DQW DQG 'DLOH\ 6HDWLQJ &RPSDQ\ 'DLOH\
%HFDXVH,EHOLHYHWKLVLVVXHWREHDFORVHFDOO,DJUHHZLWKWKH
PDMRULW\ WKDW WKH GLVWULFW FRXUW¶V ILQGLQJ LV QRW FOHDUO\
HUURQHRXV,ZULWHVHSDUDWHO\KRZHYHUWRH[SUHVVP\FRQFHUQ
WKDWWKHPDMRULW\¶VKROGLQJRQWKLVLVVXHPLJKWEHFRQVWUXHGDV
FUHDWLQJDSHUVHUXOHWKDWDODERUXQLRQQHFHVVDULO\LQWHQGVWR
FRQGXFWDVHFRQGDU\ER\FRWWDQ\WLPHWKDWLWDVNVLWVPHPEHUV
WRDVVLVWLQVWDIILQJDSLFNHWOLQH,QP\YLHZGUDZLQJVXFKDQ
LQIHUHQFH ZRXOG QRW DOZD\V EH MXVWLILHG DV IRU H[DPSOH
ZKHUHDXQLRQPDNHVFOHDUWKDWLWVHHNVWKHDVVLVWDQFHRILWV
PHPEHUVZKRZRUNIRUVHFRQGDU\HPSOR\HUVRQO\ZKHQWKRVH
HPSOR\HHVDUHRIIGXW\
7KH8QLRQLQWKHSUHVHQWFDVHKRZHYHUGLGQRWFODULI\LWV
LQWHQWWROLPLWWKHSLFNHWFDOOWRRIIGXW\HPSOR\HHV,WLQVWHDG
PDGHDQXQFRQGLWLRQDOUHTXHVWWKDWDOORILWVPHPEHUVKHOS
VWDIIWKHSLFNHWOLQHEHLQJRUJDQL]HGDJDLQVW'DQWDQG'DLOH\
0RUHRYHUWKH8QLRQGLVWULEXWHGDFDUGWRLWVPHPEHUVOHVV
1RV )$:LOKHOP&RQVWUXFWLRQ&R
,QFY.<6WDWH'LVWULFW&RXQFLO
RI&DUSHQWHUV

RIILFHDWSPRQ7KXUVGD\'HFHPEHUQRWLI\LQJLWWKDW
RIWKHWKUHHHQWUDQFHJDWHVWRWKHSURMHFWJDWHQXPEHURQH
ZRXOG EH UHVHUYHG IRU 'DQW &OD\WRQ HPSOR\HHV DQG WKHLU
VXEFRQWUDFWRUV VXSSOLHUV DQG YLVLWRUV %HFDXVH WKH XQLRQ
RIILFHVFORVHGDWSPWKHXQLRQGLGQRWUHFHLYHWKHOHWWHU
LQIRUPLQJLWRIWKHUHVHUYHJDWHV\VWHPXQWLOWKHPRUQLQJRI
)ULGD\ 'HFHPEHU DQG HPSOR\HHV GLG QRW NQRZ RI WKH
UHVHUYHJDWHV\VWHPEHIRUHFRPLQJWRZRUNWKDWGD\
7KHHVWDEOLVKPHQWRIDUHVHUYHJDWHV\VWHPLVFRPPRQLQ
WKH FRQVWUXFWLRQ LQGXVWU\ SDUWLFXODUO\ ZKHUH QXPHURXV
HPSOR\HUVZRUNDWDVLWHEXWRQO\RQHLVH[SHULHQFLQJODERU
XQUHVW8QGHUDUHVHUYHJDWHV\VWHPRQHJDWHRUHQWUDQFH
FDOOHGWKH³SULPDU\´JDWHLVUHVHUYHGIRUWKHH[FOXVLYHXVHRI
WKH³SULPDU\´FRQWUDFWRUWKDWLVWKHWDUJHWRIWKHSLFNHWOLQHDV
ZHOODVLWVVXEFRQWUDFWRUVYHQGRUVDQGJXHVWVRWKHUJDWHVRU
HQWUDQFHVDUHUHVHUYHGIRUXVHE\FRQWUDFWRUVDQGRWKHUVQRW
LQYROYHGLQWKHGLVSXWH*HQHUDOO\RQFHDUHVHUYHJDWHV\VWHP
LVLQSODFHWKHXQLRQPXVWFRQILQHLWVSLFNHWLQJWRWKHSULPDU\
JDWH7KHV\VWHPLVGHVLJQHGWRNHHSQHXWUDOSDUWLHVRXWRIWKH
GLVSXWH DQG DYRLG WKH QHHG IRU WKHP WR FURVV SLFNHW OLQHV
5HVHUYH JDWH V\VWHPV DUH XVXDOO\ HIIHFWLYH EHFDXVH XQLRQV
FRQILQHWKHLUSLFNHWLQJWRWKHJDWHUHVHUYHGIRUWKHWDUJHWHG
FRQWUDFWRUDQGWKHSURMHFWLVQRWVKXWGRZQ
2QWKHPRUQLQJRI'HFHPEHUVLJQVZHUHLQSODFHDWHDFK
HQWUDQFH WR WKH SURMHFW 7KH VLJQV DW JDWHV DQG D UHDG
³6WRS5HDG'DQW&OD\WRQ&RPSDQ\,WVHPSOR\HHVVXSSOLHUV
DQGYLVLWRUVDUHSURKLELWHGIURPXVLQJWKLVHQWUDQFHWRWKLV
FRQVWUXFWLRQSURMHFW´7KHVLJQDWJDWHUHDG³6WRS5HDG
7KLV HQWUDQFH LV UHVHUYHG H[FOXVLYHO\ IRU 'DQW &OD\WRQ
&RPSDQ\,WVHPSOR\HHVVXSSOLHUVRUYLVLWRUV´7KHVLJQVGLG
QRWPHQWLRQ'DLOH\VSHFLILFDOO\QRUGLGWKH\PHQWLRQ'DQW
VXEFRQWUDFWRUV
%HFDXVHWKHVLJQVGLGQRWPHQWLRQ'DLOH\VSHFLILFDOO\E\
QDPHGHIHQGDQWSLFNHWHGDOOJDWHVQRWMXVWWKHJDWHUHVHUYHG
IRU'DQW2WKHUXQLRQPHPEHUVUHIXVHGWRFURVVGHIHQGDQW¶V

-- 5 of 8 --

)$:LOKHOP&RQVWUXFWLRQ&R
,QFY.<6WDWH'LVWULFW&RXQFLO
RI&DUSHQWHUV
1RV
7KH OHWWHU VHQW WR GHIHQGDQW IURP WKH SUHVLGHQW RI WKH QDWLRQDO XQLRQ
VDLG LQ SDUW
<RX DUH KHUHE\ GLUHFWHG WR VHH WKDW WKH SURMHFW LV PDQQHG
LPPHGLDWHO\ XQGHU WKH SURYLVLRQV RI WKH >FRQWUDFW@ XQGHU ZKLFK
WKLV FRQWUDFWRU >:LOKHOP@ LV ZRUNLQJ
/HWWHU IURP 'RXJODV 0F&DUURQ *HQHUDO 3UHVLGHQW RI WKH 8QLWHG
%URWKHUKRRG RI &DUSHQWHUV DQG -RLQHUV RI $PHULFD WR 6WHYH %DUJHU
6HFUHWDU\ RI WKH .HQWXFN\ 6WDWH 'LVWULFW &RXQFLO RI &DUSHQWHUV 'HF
([KLELW -$ DW
SLFNHW OLQHV DQG DOO ZRUN RQ WKH SURMHFW ZDV VKXW GRZQ
'HIHQGDQWZDVLQIRUPHGE\OHWWHUWKDWWKHUHVHUYHJDWHV\VWHP
ZRXOGFRQWLQXHRQ0RQGD\'HFHPEHUDQGWKDW'DLOH\¶V
QDPH ZRXOG EH DGGHG WR WKH VLJQV E\ WKH PRUQLQJ RI
'HFHPEHU2QFHWKHVLJQVZHUHFKDQJHGWKHXQLRQVWRSSHG
SLFNHWLQJDWJDWHVDQGDEXWNHSWJDWHREVHUYHUVDWWKHWZR
QHXWUDOJDWHV1RQHRIGHIHQGDQW¶VPHPEHUVUHWXUQHGWRZRUN
RQ'HFHPEHU2Q'HFHPEHUZRUNHUVIURPDOORWKHU
XQLRQV H[FHSW GHIHQGDQW¶V UHWXUQHG WR ZRUN 'HIHQGDQW¶V
PHPEHUVFHDVHGSLFNHWLQJRQ'HFHPEHUDIWHUWKHKHDGRI
WKHQDWLRQDOFDUSHQWHUV¶XQLRQZURWHDOHWWHUWRWKHORFDOXQLRQ
DGYLVLQJWKDWWKHVWULNHZDVLPSURSHUO\DIIHFWLQJSODLQWLIID
XQLRQFRQWUDFWRUZLWKDQRVWULNHFODXVH$WQRWLPHGXULQJ
WKHVWULNHGLGGHIHQGDQWHQFRXUDJHLWVPHPEHUVWRUHWXUQWR
ZRUN
,,/,$%,/,7<
8QGHU WKH $FW ZKHQ D XQLRQ KDV D SUREOHP ZLWK WKH
³SULPDU\´ HPSOR\HU LW PXVW IRFXV LWV DFWLYLWLHV RQ WKDW
HPSOR\HURQO\,WPD\QRWH[HUWSUHVVXUHZKHWKHUGLUHFWRU
LQGLUHFWRQRWKHUQHXWUDORUXQUHODWHG³VHFRQGDU\´HPSOR\HUV
(QFRXUDJLQJ HPSOR\HHV WR HQJDJH LQ D FRQFHUWHG DFWLYLW\
DJDLQVWWKHLUHPSOR\HULQRUGHUWRKDYHWKDWHPSOR\HUUHIXVH
WRGHDOZLWKWKHSULPDU\HPSOR\HULVLOOHJDO7KHTXHVWLRQLV
D IDFWXDO RQH DV WR WKH XQLRQ¶V LQWHQW $FFRUGLQJO\ LQ
GHWHUPLQLQJZKHWKHUDXQLRQKDVYLRODWHG† E WKHFRXUW
1RV )$:LOKHOP&RQVWUXFWLRQ&R
,QFY.<6WDWH'LVWULFW&RXQFLO
RI&DUSHQWHUV

LQFXUUHG LQ UHQWLQJ FUDQHV DQG RWKHU KHDY\ HTXLSPHQW
6SHFLILFDOO\WKHXQLRQDUJXHVWKDWWKHUHDUHRQO\WZRSRVVLEOH
ZD\VLQZKLFK:LOKHOPFRXOGKDYHLQFXUUHGDGGLWLRQDOFRVWV
IRUWKHXVHRIWKHFUDQHDQGKHDY\HTXLSPHQW KDYLQJWR
SD\DGGLWLRQDOVXPVEHFDXVHWKHGHOD\FDXVHGLWWRH[FHHGWKH
VWDWHG FHLOLQJ RU FDS RQ WKH QXPEHU RI KRXUV WKDW WKH
HTXLSPHQWFDQEHXVHGLQRQHPRQWKDFFRUGLQJWRWKHOHDVH
DJUHHPHQWRU EHFDXVHWKHKHDY\HTXLSPHQWZDVUHQWHGRQ
DPRQWKO\QRWGDLO\EDVLVKDYLQJWRSD\IRUDQDGGLWLRQDO
PRQWK RI UHQWDO DQG RQO\ XVLQJ WKH HTXLSPHQW IRU VHYHUDO
GD\V
:LOKHOPWHVWLILHGWKDWLWFDOFXODWHGWKHGDLO\UDWHIRUWKH
KHDY\HTXLSPHQWE\GLYLGLQJWKHPRQWKO\IHHE\WKHQXPEHU
RI ZRUNLQJ GD\V LQ WKH PRQWK DQG VXEPLWWLQJ D GDPDJH
DPRXQWIRUDQDGGLWLRQDOVL[DQGRQHKDOIGD\V$VZLWKWKH
GLVFXVVLRQ DERYH FRQFHUQLQJ :LOKHOPRZQHG HTXLSPHQW
UHQWHG HTXLSPHQW VLWWLQJ LGOH LQFXUV DGGLWLRQDO FRVWV IRU
:LOKHOP 7KH HTXLSPHQW OLNHO\ FRXOG KDYH EHHQ XVHG RQ
DQRWKHUMREVLWH:HGRQRWEHOLHYHWKHGLVWULFWFRXUWHUUHGLQ
DZDUGLQJGDPDJHVSURUDWHGIRUVL[DQGRQHKDOIGD\VRIWKH
PRQWKO\UHQWDOUDWH
$FFRUGLQJO\ZHDIILUPWKHMXGJPHQWRIWKHGLVWULFWFRXUWDV
WRLWVILQGLQJRIDQXQIDLUODERUSUDFWLFHEXWZHUHYHUVHWKH
GDPDJHDZDUGDVWR:LOKHOP¶VRZQHTXLSPHQWDQGUHPDQG
IRUUHFDOFXODWLRQLQDPDQQHUFRQVLVWHQWZLWKWKLVRSLQLRQ

-- 6 of 8 --

)$:LOKHOP&RQVWUXFWLRQ&R
,QFY.<6WDWH'LVWULFW&RXQFLO
RI&DUSHQWHUV
1RV
7KLV IUDFWLRQ ZDV GHULYHG E\ XVLQJ WKH GLVWULFW FRXUW¶V ILQGLQJ WKDW
WKH VWULNH ODVWHG GD\V RXW RI D GD\ EXVLQHVV PRQWK WKH QXPEHU XVHG
E\ :LOKHOP LQ RWKHU FDOFXODWLRQV
:LOKHOPVXEPLWWHGQXPEHUVXVLQJWKHGDLO\UHQWDOUDWHIRULWV
HTXLSPHQWZKLFKLQWKHDEVHQFHRIVSHFLILFHYLGHQFHWKDWWKH
HTXLSPHQWFRXOGKDYHEHHQUHQWHGDWWKHGDLO\UDWHHDFKGD\
SUREDEO\ RYHUVWDWHV WKH DPRXQW RI DFWXDO ORVV $ PRUH
UHDVRQDEOH DQG UHDOLVWLF DSSURDFK LQ WKLV VLWXDWLRQ LV WR
FDOFXODWHWKHPRQWKO\UHQWDOUDWHDQGSURUDWHLWRYHUWKHDFWXDO
WLPH:LOKHOPZDVGHSULYHGRILWVXVH VL[DQGRQHKDOIGD\V
:LOKHOP VKRXOG EH HQWLWOHG WR VRPH FRPSHQVDWLRQ IRU WKH
XQDQWLFLSDWHG ORVVRIWKHRSSRUWXQLW\WRXVHWKHHTXLSPHQW
FDXVHG E\ WKH XQLRQ¶V XQODZIXO FRQGXFW :H WKHUHIRUH
EHOLHYH WKDW :LOKHOP VKRXOG EH DZDUGHG GDPDJHV ZLWK
UHVSHFWWRWKHORVVRIXVHRILWVRZQHTXLSPHQWERWKRIILFH
HTXLSPHQWDQGFRQVWUXFWLRQHTXLSPHQWIRU VL[DQG
RQHKDOIWZHQW\VHFRQGV RIWKHDSSOLFDEOHPRQWKO\UDWH
:LOKHOP¶V RWKHU DUJXPHQWV UHJDUGLQJ GDPDJHV IDLO ,WV
DUJXPHQW WKDW WKH GLVWULFW FRXUW HUUHG E\ QRW DZDUGLQJ
GDPDJHVIRUVHYHQRWKHUNH\SHUVRQQHOZDVQRWXQUHDVRQDEOH
ZKHUH :LOKHOP ZDV XQDEOH WR QDPH DOO WZHOYH SHRSOH IRU
ZKRPLWVRXJKWH[SHQVHV,WVDELOLW\WRQDPHRQO\ILYHRIWKH
WZHOYHMXVWLILHGWKHGLVWULFWFRXUWLQDZDUGLQJGDPDJHVRQO\
IRU WKRVH ILYH HPSOR\HHV :LOKHOP DOVR FRQWHQGV WKDW WKH
GLVWULFWFRXUWXVHGDQLQFRUUHFWQXPEHULQFDOFXODWLQJWKHFRVW
RIUHQWLQJWKHVWHHOIRUPVIRUDQDGGLWLRQDOVL[DQGRQHKDOI
GD\VEHFDXVHLWIDLOHGWRDGGWKHVDOHVWD[LQWKHDPRXQW
([KLELW KRZHYHU LQFOXGHV WKH VDOHV WD[ LQ WKH
FDOFXODWLRQDQGZHFDQILQGQRHUURULQWKHGLVWULFWFRXUW¶V
PDWK
,QLWVDSSHDOWKHXQLRQFRQWHQGVILUVWWKDWQRVHFRQGDU\
ER\FRWW RFFXUUHG DQG WKDW QR GDPDJHV VKRXOG EH DZDUGHG
$OWHUQDWLYHO\LWFRPSODLQVWKDWLIGDPDJHVDUHWREHDZDUGHG
WKH GLVWULFW FRXUW HUUHG LQ DZDUGLQJ IRU FRVWV
1RV )$:LOKHOP&RQVWUXFWLRQ&R
,QFY.<6WDWH'LVWULFW&RXQFLO
RI&DUSHQWHUV

PXVW GHFLGH LI WKH XQLRQ¶V DFWLRQV ZHUH GLUHFWHG DW WKH
VHFRQGDU\HPSOR\HURUPHUHO\KDGDQFLOODU\FRQVHTXHQFHVIRU
WKDWHPSOR\HU,WLVQRWQHFHVVDU\WKDWWKHVROHREMHFWRIWKH
VWULNH EH IRFXVHG RQ WKH VHFRQGDU\ HPSOR\HU LI RQH RI WKH
XQLRQ¶VREMHFWLYHVZDVWRLQIOXHQFHWKHVHFRQGDU\HPSOR\HU
WREULQJSUHVVXUHWREHDURQWKHSULPDU\HPSOR\HU:KHWKHU
WKH XQLRQ ZDV PRWLYDWHG E\ D VHFRQGDU\ REMHFWLYH LV D
TXHVWLRQRIIDFWDQGLVWREHGHWHUPLQHGE\WKHWRWDOLW\RIWKH
XQLRQ¶VFRQGXFWXQGHUWKHFLUFXPVWDQFHV
7KHTXHVWLRQIRUWKHGLVWULFWFRXUWWKHUHIRUHZDVRQHRI
LQWHQW 7KH GLVWULFW FRXUW FRQFOXGHG DQG ZH DJUHH WKDW
UHSUHVHQWDWLYHV RI WKH XQLRQ YLRODWHG † E ZKHQ WKH\
H[SOLFLWO\HQOLVWHGDGYDQFHKHOSIURP:LOKHOPHPSOR\HHVWR
IRUPDSLFNHWOLQHDJDLQVW'DLOH\7KHGLUHFWVROLFLWDWLRQE\
GHIHQGDQWRI:LOKHOP¶VXQLRQHPSOR\HHVEHIRUHDQ\SLFNHW
OLQHKDGEHHQHVWDEOLVKHGGHPRQVWUDWHVWKDWGHIHQGDQW¶VOLNHO\
REMHFWLYH ZDV WR NHHS :LOKHOP HPSOR\HHV RII WKH MRE $
UHDVRQDEOH LQIHUHQFH IURP WKH HYLGHQFH GHPRQVWUDWHV WKDW
GHIHQGDQWLQWHQGHGWRHPEURLO:LOKHOPLQLWVODERUGLVSXWH
DJDLQVW 'DLO\ E\ UHFUXLWLQJ :LOKHOP ZRUNHUV WR VWDII WKH
SLFNHWOLQHVLQDGYDQFHRIWKHFUHDWLRQRIWKHSLFNHW%HFDXVH
WKH GLVWULFW FRXUW IRXQG WKDW WKH VROLFLWDWLRQ RI :LOKHOP
HPSOR\HHVWRHVWDEOLVKDSLFNHWOLQHFRQVWLWXWHGDQXQIDLUODERU
SUDFWLFHLWGHFOLQHGWRFRQVLGHUZKHWKHUWKHQRVWULNHFODXVH
RI WKH FROOHFWLYH EDUJDLQLQJ DJUHHPHQW ZDV EUHDFKHG ,Q
DIILUPLQJ WKH GLVWULFW FRXUW¶V MXGJPHQW FRQFHUQLQJ WKH
VHFRQGDU\ER\FRWWZHILQGLWXQQHFHVVDU\WRUHDFKWKHQR
VWULNHLVVXHDVZHOO
,,,'$0$*(6
6HFWLRQRIWKH1DWLRQDO/DERU5HODWLRQV$FW86&
†SURYLGHVDSULYDWHFDXVHRIDFWLRQIRUGDPDJHVDULVLQJ
IURP D YLRODWLRQ RI † E 7KH GLVWULFW FRXUW DZDUGHG
:LOKHOP LQ GDPDJHV %RWK SDUWLHV DSSHDO WKH
DZDUG

-- 7 of 8 --

)$:LOKHOP&RQVWUXFWLRQ&R
,QFY.<6WDWH'LVWULFW&RXQFLO
RI&DUSHQWHUV
1RV
7KHGLVWULFWFRXUWIRXQGWKDWWKHVWULNHODVWHGVL[DQGRQH
KDOIGD\VDQGDZDUGHGGDPDJHVIRUWKRVHGD\VWR:LOKHOPIRU
UHQWDOHTXLSPHQWDQGVWHHOIRUPV SD\PHQWRIH[SHQVHV
WRILYH³NH\HPSOR\HHV´ LQFUHDVHGODERUFRVWVLQWKHIRUP
RIVDODULHVDQG VXEFRQWUDFWRUH[SHQVHV7KHGLVWULFWFRXUW
GHFOLQHGWRDZDUGGDPDJHVUHTXHVWHGE\:LOKHOPIRUORVVRI
XVH RI :LOKHOPRZQHG HTXLSPHQW DQG NH\ HPSOR\HH
H[SHQVHVIRUVHYHQDGGLWLRQDOSHRSOH,QDGGLWLRQ:LOKHOP
FODLPVWKDWWKHFRXUWXVHGWKHZURQJQXPEHULQFDOFXODWLQJWKH
UHQWDOUDWHIRUWKHVWHHOIRUPV
2QFHOLDELOLW\LVHVWDEOLVKHG:LOKHOPLVHQWLWOHGWRUHFRYHU
DOO GDPDJHV ³GLUHFWO\ DQG SUR[LPDWHO\´ FDXVHG IURP WKH
YLRODWLRQV RI WKH $FW E\ WKH XQLRQ 5LYHUWRQ &RDO &R Y
8QLWHG0LQH:RUNHUV)G WK&LU
'DPDJHVDZDUGHGXQGHU6HFWLRQQHHGQRWEHFDSDEOHRI
SUHFLVHPHDVXUHPHQWWKHDPRXQWUHFRYHUHGQHHGRQO\EHD
MXVW DQG UHDVRQDEOH DSSUR[LPDWLRQ RI WKH DFWXDO LQMXU\
VXVWDLQHGDVDUHVXOWRIWKHLOOHJDOVWULNHDQGVKRXOGQRWEH
PHUHO\VSHFXODWLYH2QO\DFWXDOORVVHVLQFXUUHGDVDUHVXOWRI
WKH VWULNH PD\ EH UHFRYHUHG $OO WKDW LV UHTXLUHG LV WKDW
VXIILFLHQW IDFWV EH LQWURGXFHG IRU D FRXUW WR DUULYH DW DQ
LQWHOOLJHQWHVWLPDWHZLWKRXWFRQMHFWXUH7D\ORU0LON&RY
,QWHUQDWLRQDO%URWKHUKRRGRI7HDPVWHUV)G
G&LU
7XUQLQJWR:LOKHOP¶VFURVVDSSHDOILUVW:LOKHOPFRQWHQGV
WKDWWKHGLVWULFWFRXUW¶VIDLOXUHWRDZDUGDQ\GDPDJHVIRUWKH
ORVVRIXVHRI:LOKHOPRZQHGHTXLSPHQWLVHUURU:HDJUHH
'DPDJHVIRUORVWRSSRUWXQLW\UHYHQXHPD\EHDZDUGHGIRU
ORVV RI XVH RI RZQHG HTXLSPHQW $V RWKHU FRXUWV KDYH
UHFRJQL]HG³LGOHHTXLSPHQWRUHTXLSPHQWWKDWUHPDLQVRQD
MRE VLWH ORQJHU WKDQ H[SHFWHG EHFDXVH D MRE LV GHOD\HG IRU
VRPHUHDVRQLVDUHDODQGTXDQWLILDEOHORVVWRWKHFRQWUDFWRU
ZKHWKHUUHQWLVSDLGWRDQRWKHURUFKDUJHGWRWKHFRQWUDFWRU
KLPVHOIDVDQDFFRXQWLQJH[SHQVH´5/&RROVDHW&RQVW&R
Y/RFDO,QW¶O8QLRQRI2SHUDWLQJ(QJLQHHUV)G
WK&LU :KHQHTXLSPHQWVLWVLGOHH[SHQVHV
1RV )$:LOKHOP&RQVWUXFWLRQ&R
,QFY.<6WDWH'LVWULFW&RXQFLO
RI&DUSHQWHUV

VXFKDVGHSUHFLDWLRQILQDQFHFKDUJHVDQGWD[HVDFFXPXODWH
ZLWKRXWJHQHUDWLQJRIIVHWWLQJUHYHQXH.HHSLQJHTXLSPHQWRQ
DMREVLWHORQJHUWKDQH[SHFWHGZLWKRXWFRUUHVSRQGLQJUHYHQXH
HQWDLOVRSSRUWXQLW\FRVWV,GDWQ
7KH GLVWULFW FRXUW GHWHUPLQHG WKDW :LOKHOP ZDV RQO\
HQWLWOHGWRUHFRXSWKHUHQWDOYDOXHRILWVRZQHTXLSPHQWLILW
FRXOGVKRZHLWKHUWKDW LWFRXOGKDYHUHQWHGWKHHTXLSPHQW
WRDQRWKHUFRPSDQ\RU LWKDGWRUHQWVLPLODUHTXLSPHQWDW
DGLIIHUHQWVLWHEHFDXVHLWFRXOGQRWXVHLWVRZQHTXLSPHQW
IURP WKH VWDGLXP VLWH $OWKRXJK :LOKHOP VXEPLWWHG
VFKHGXOHVRIGDLO\UHQWDOUDWHVIRUFHUWDLQHTXLSPHQWGXULQJ
LWIDLOHGWRSXWRQVSHFLILFHYLGHQFHRIZKHUHLWZRXOG
KDYHXVHGWKHHTXLSPHQWZHUHLWQRWVLWWLQJLGOHDWWKHVWDGLXP
VLWHIRUVL[DQGRQHKDOIGD\VGXULQJWKHER\FRWWRUZKHUHLW
ZRXOGKDYHXVHGWKHHTXLSPHQWKDGLWQRWUHPDLQHGDWWKH
VWDGLXPVLWHVL[DQGRQHKDOIGD\VORQJHUWKDQLWZRXOGKDYH
EXW IRU WKH ER\FRWW &RQWUDU\ WR :LOKHOP¶V DVVHUWLRQ WKH
SUREOHPZDVQRWWKDWWKHGLVWULFWFRXUWGLGQRWXQGHUVWDQGWKDW
:LOKHOPLQFXUUHGFRVWVZKHQLWVHTXLSPHQWVDWLGOHDQGZDV
QRWXVHGSURGXFWLYHO\WKHSUREOHPZDVWKHPRUHEDVLFRQH
RI:LOKHOP¶VIDLOXUHWRVKRZZKHUHLWVSHFLILFDOO\VXIIHUHG
DQ\ORVVZLWKUHVSHFWWRWKHUHQWDORILWVRZQHTXLSPHQW7KH
ODZKRZHYHUGRHVQRWUHTXLUH:LOKHOPWRVKRZLWVORVVZLWK
WKH VSHFLILFLW\ UHTXLUHG E\ WKH GLVWULFW FRXUW ,Q $PHULFDQ
%ULGJH 'LY 86 6WHHO &RUS Y ,QWHUQDWLRQDO 8QLRQ RI
2SHUDWLQJ(QJLQHHUV/RFDO)G WK
&LU WKH DSSHDOV FRXUW VLPSO\ UHGXFHG EXW GLG QRW
HOLPLQDWH D GDPDJH DZDUG IRU ORVV RI XVH RI RZQHG
HTXLSPHQWZKHUHWKHUHZDVHYLGHQFHWKDW$PHULFDQ%ULGJH
IUHTXHQWO\UHQWHGLGOHHTXLSPHQWWRRWKHUFRPSDQLHVEXWWKHUH
ZDV QR HYLGHQFH WR VXSSRUW WKH DVVXPSWLRQ WKDW $PHULFDQ
%ULGJHFRXOGKDYHGRQHVRIRUWKHWLPHLWVRXJKWGDPDJHV,Q
YLHZRIWKHIDLOXUHRISURRIWKHGDPDJHDZDUGZDVUHGXFHG
7KHVDPHVLWXDWLRQH[LVWVKHUH
:LOKHOPXQGRXEWHGO\ZDVKDUPHGWRVRPHH[WHQWE\EHLQJ
GHSULYHGRIWKHHIILFLHQWXVHRILWVRZQHTXLSPHQW+RZHYHU

-- 8 of 8 --

Continue your research in ChatGPT or Claude

Connect Omnilex to search the legal corpus from your AI assistant.