01-1055; 01-1296•03a0028p.06
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
81,7(' 67$7(6 2) $0(5,&$
3ODLQWLII$SSHOOHH
Y
'$9,' (8*(1( 5,&.(776
'21$/' /((
6:$&.+$00(5
'HIHQGDQWV$SSHOODQWV
;!
1
1RV
$SSHDOIURPWKH8QLWHG6WDWHV'LVWULFW&RXUW
IRUWKH:HVWHUQ'LVWULFWRI0LFKLJDQDW*UDQG5DSLGV
1R²5LFKDUG$(QVOHQ'LVWULFW-XGJH
$UJXHG2FWREHU
'HFLGHGDQG)LOHG-DQXDU\
%HIRUH0$57,1&KLHI&LUFXLW-XGJH1(/621DQG
*,/0$1&LUFXLW-XGJHV
BBBBBBBBBBBBBBBBB
&2816(/
$5*8(' &KULVWRSKHU 3 <DWHV )('(5$/ 38%/,&
'()(1'(562)),&(*UDQG5DSLGV0LFKLJDQ0DUWLQ-
%HUHV6W&ODLU6KRUHV0LFKLJDQIRU$SSHOODQWV-RKQ&
%UXKD$66,67$1781,7('67$7(6$77251(<*UDQG
-- 1 of 6 --
8QLWHG6WDWHVY5LFNHWWVHWDO 1RV
5DSLGV0LFKLJDQIRU$SSHOOHH21%5,()&KULVWRSKHU3
<DWHV)('(5$/38%/,&'()(1'(562)),&(*UDQG
5DSLGV 0LFKLJDQ 0DUWLQ - %HUHV 6W &ODLU 6KRUHV
0LFKLJDQ IRU $SSHOODQWV -RKQ & %UXKD $66,67$17
81,7('67$7(6$77251(<*UDQG5DSLGV0LFKLJDQ
IRU$SSHOOHH
BBBBBBBBBBBBBBBBB
23,1,21
BBBBBBBBBBBBBBBBB
%2<&( ) 0$57,1 -5 &KLHI &LUFXLW -XGJH
'HIHQGDQWV 'DYLG 5LFNHWWV DQG 'RQDOG 6ZDFNKDPPHU
FKDOOHQJHWKHLUFRQYLFWLRQVJURZLQJRXWRIDGUXJFRQVSLUDF\
LQYROYLQJDPXUGHUZLWKDILUHDUP7KRXJKWKH\ZHUHWULHG
LQGHSHQGHQWO\DQGDWVHSDUDWHWLPHVWKHFOHUNRIFRXUWMRLQHG
WKHLUDSSHDOVWRJHWKHU2QDSSHDO5LFNHWWVDQG6ZDFNKDPPHU
UDLVHEHWZHHQWKHPVHYHUDOLVVXHVIRUUHYLHZUDQJLQJIURP
WKHFRQVWLWXWLRQDOLW\RI86& F WRWKHDGPLVVLRQRI
HYLGHQFH)RUWKHUHDVRQVWKDWIROORZZHDIILUPWKHGLVWULFW
FRXUW
2QWKHHYHQLQJRI$SULO'DYLG5LFNHWWV'RQDOG
6ZDFNKDPPHUDQG0LFKDHO0F.LQQH\GURYHWRDGXSOH[QHDU
GRZQWRZQ *UDQG 5DSLGV WR FROOHFW PRQH\ IRU GUXJV
SUHYLRXVO\VROG:KLOHWKHPRQH\LQYROYHGZDVUHODWLYHO\
LQVLJQLILFDQW0F.LQQH\DQG6ZDFNKDPPHUEURXJKWVDZHG
RIIVKRWJXQV$V'DYLG5LFNHWWVZDLWHGRXWVLGHLQWKHYDQ
0F.LQQH\DQG6ZDFNKDPPHUHQWHUHGDQDSDUWPHQWZKHUH
WKH\IRXQG'DYLG%URFN DQG /DXULH%ULJJV$FFRUGLQJWR
0F.LQQH\¶VWHVWLPRQ\6ZDFNKDPPHUILUVWDVNHG%URFNIRU
WKH PRQH\ 2Q %URFN¶V IDLOLQJ WR SURGXFH WKH PRQH\
6ZDFNKDPPHU LPPHGLDWHO\ EHJDQ VKRRWLQJ :KHQ
6ZDFNKDPPHUEHJDQILULQJKLVVKRWJXQ0F.LQQH\IOHG$V
KH UDQ KH KHDUG /DXULH %ULJJV VFUHDPLQJ DQG WKHQ PRUH
VKRWV%URFNVXUYLYHGWKHVKRRWLQJEXW/DXULH%ULJJVGLHG
$OOWKHVKRWVILUHGZHUHIURP6ZDFNKDPPHU¶VVKRWJXQ
,Q1RYHPEHURIDIHGHUDOJUDQGMXU\UHWXUQHGDILYH
FRXQWLQGLFWPHQWDJDLQVW5LFNHWWVDQG6ZDFNKDPPHU7KH
-- 2 of 6 --
1RV 8QLWHG6WDWHVY5LFNHWWVHWDO
GHIHQGDQWVZHUHFKDUJHGZLWKFRQVSLULQJWRGLVWULEXWHYDULRXV
FRQWUROOHGVXEVWDQFHVLQYLRODWLRQRI86&DQG
D WKHXVHRIDVDZHGRIIVKRWJXQLQUHODWLRQWRDGUXJ
FRQVSLUDF\LQYLRODWLRQRI86& F WKHPXUGHURI
/DXULH %ULJJV LQ FRQQHFWLRQ ZLWK D GUXJ FRQVSLUDF\ LQ
YLRODWLRQRI86& L >QRZFRGLILHGDV M @DQG
SRVVHVVLRQRIVDZHGRIIVKRWJXQVLQYLRODWLRQRI86&
G 7KH\ ZHUH DOVR FKDUJHG ZLWK EHLQJ IHORQV LQ
SRVVHVVLRQRIILUHDUPVLQYLRODWLRQRI86& J
$IWHUWZRVHSDUDWHWULDOVLQYROYLQJPXOWLSOHZLWQHVVHVHDFK
MXU\ IRXQG 6ZDFNKDPPHU DQG 5LFNHWWV JXLOW\ RQ DOO ILYH
FRXQWV7KHWULDOFRXUWVHQWHQFHG5LFNHWWVWRWZRFRQVHFXWLYH
OLIHWHUPVSOXVWHQ\HDUVDORQJZLWKWZRFRQFXUUHQWWHQ\HDU
VHQWHQFHV 6ZDFNKDPPHU ZDV VXEVHTXHQWO\ VHQWHQFHG WR
IRUW\ \HDUV IRU FRXQW RQH WHQ \HDUV IRU FRXQW WZR D
FRQVHFXWLYH VHQWHQFH RI OLIH LQ SULVRQ RQ FRXQW WKUHH DQG
FRQFXUUHQWWHUPVRIWHQ\HDUVHDFKRQFRXQWVIRXUDQGILYH
2QDSSHDO6ZDFNKDPPHUDQG5LFNHWWVUDLVHVHYHUDOLVVXHV
IRUUHYLHZ)LUVWWKH\MRLQWO\DUJXHWKDWFRXQWVWZRDQGWKUHH
GRQRWVXEVWDQWLDOO\DIIHFWLQWHUVWDWHFRPPHUFHDQGWKXVIDOO
RXWVLGHWKH&RPPHUFH&ODXVH6HH8QLWHG6WDWHVY/RSH]
86 6HHDOVR8QLWHG6WDWHVY0RUULVRQ
86 5HO\LQJ RQ WKH UHFHQW 6XSUHPH &RXUW
RSLQLRQV RI 8QLWHG 6WDWHV Y /RSH] DQG 8QLWHG 6WDWHV Y
0RUULVRQWKH\DUJXHWKDWXVHRIDILUHDUPDQGFRPPLWWLQJD
ILUHDUP PXUGHU LQ FRQQHFWLRQ ZLWK D GUXJ FRQVSLUDF\
YLRODWLRQV RI 86& F L RQO\ DIIHFW
LQWUDVWDWHFRPPHUFH7KHUHIRUHWKH\FRQWHQGWKDWWKHVHDFWV
IDOORXWVLGHWKH&RPPHUFH&ODXVHRIWKH&RQVWLWXWLRQ%RWK
DGPLW KRZHYHU WKDW WKH XQGHUO\LQJ FULPH RI D GUXJ
FRQVSLUDF\GRHVVXEVWDQWLDOO\DIIHFWLQWHUVWDWHFRPPHUFH7KH
XVHRIDILUHDUPDQGWKHFRPPLVVLRQRIDILUHDUPPXUGHULQD
GUXJFRQVSLUDF\DUHQRWIUHHVWDQGLQJVWDWXWHVEXWDUHWLHGWR
WKHXQGHUO\LQJGUXJFRQVSLUDF\RIIHQVHZKLFKXQTXHVWLRQLQJO\
VXEVWDQWLDOO\DIIHFWVLQWHUVWDWHFRPPHUFH
)XUWKHUPRUH6ZDFNKDPPHU¶VDQG5LFNHWWV¶VDFWLRQVDUH
PDUNHGO\GLIIHUHQWIURPWKRVHLQ/RSH]DQG0RUULVRQ0HUH
-- 3 of 6 --
8QLWHG6WDWHVY5LFNHWWVHWDO 1RV
SRVVHVVLRQRIDJXQLQDVFKRRO]RQHRUFRPPLWWLQJDJHQGHU
PRWLYDWHGFULPHRIYLROHQFHDUHVXEVWDQWLDOO\GLIIHUHQWIURP
DILUHDUPPXUGHULQDGUXJFRQVSLUDF\RUSRVVHVVLQJDJXQLQ
DGUXJFRQVSLUDF\6HH/RSH]86DW8QLWHG
6WDWHVY0RUULVRQ86DW:HEHOLHYHWKDW
86& F IDOOVVTXDUHO\ZLWKLQ&RQJUHVV¶&RPPHUFH
3RZHU6HH8QLWHG6WDWHVY1JX\HQ)G WK
&LU VHHDOVR8QLWHG6WDWHVY&UXPS)G
WK&LU 8QLWHG6WDWHVY:DONHU)G G
&LU 8QLWHG6WDWHVY+DUULV)G WK&LU
1RWRQO\GRHVWKHXVHRIDILUHDUPLQFDUU\LQJRXWD
GUXJFRQVSLUDF\VXEVWDQWLDOO\DIIHFWLQWHUVWDWHFRPPHUFHEXW
DILUHDUPPXUGHUFRPPLWWHGLQFDUU\LQJRXWDGUXJFRQVSLUDF\
DOVRVXEVWDQWLDOO\DIIHFWVLQWHUVWDWHFRPPHUFH6HH1JX\HQ
)GDWVHHDOVR8QLWHG6WDWHVY0LOOHU)G
WK&LU
'RQDOG 6ZDFNKDPPHU DUJXHV LQGHSHQGHQWO\ WKDW WKH
GLVWULFWFRXUWDEXVHGLWVGLVFUHWLRQZKHQLWUHIXVHGWRJLYHKLV
SURSRVHGMXU\LQVWUXFWLRQFRQFHUQLQJLPSHDFKPHQWE\SULRU
LQFRQVLVWHQW VWDWHPHQWV 7KH LVVXH LV ZKHWKHU WKH MXU\
FRQVLGHUHG RXWRIFRXUW DVVHUWLRQV XVHG SURSHUO\ IRU
LPSHDFKPHQWSXUSRVHVPLVWDNHQO\DVVXEVWDQWLYHHYLGHQFH
5HYLHZLQWKLV&RXUWLVZKHWKHUWKHMXU\LQVWUXFWLRQVIDLUO\
DQGDGHTXDWHO\FRYHUWKHLVVXHVDQGVWDWHWKHDSSOLFDEOHODZ
IRUWKHMXU\8QLWHG6WDWHVY:LOOLDPV)G
WK&LU ,Q8QLWHG6WDWHVY*LEEV)G
WK &LU ZH KHOG WKDW D GLVWULFW FRXUW¶V UHIXVDO WR
VXEPLWDSURSRVHGMXU\LQVWUXFWLRQDPRXQWVWRUHYHUVLEOHHUURU
RQO\LIWKHUHIXVHGLQVWUXFWLRQLV DFRUUHFWVWDWHPHQWRIWKH
ODZ QRW VXEVWDQWLDOO\ FRYHUHG E\ RWKHU LQFOXGHG
LQVWUXFWLRQV DQG FRQFHUQV DQ LPSRUWDQW SRLQW ZKLFK
LPSDLUVWKHGHIHQGDQW¶VWKHRU\RIWKHFDVH
7KH MXU\ LQVWUXFWLRQ XVHG E\ WKH GLVWULFW FRXUW LQ
6ZDFNKDPPHU¶VFDVHLQVWUXFWHGWKHMXU\WRFRQVLGHUZKHWKHU
³WKHZLWQHVVVDLGRUGLGVRPHWKLQJWKDWLVLQFRQVLVWHQW
ZLWKZKDWWKHZLWQHVVVDLGZKLOHWHVWLI\LQJLQWKHFRXUWURRP´
6ZDFNKDPPHU¶VSURSRVHGLQVWUXFWLRQVWDWHV³\RXKDYHDOVR
KHDUGWKDWEHIRUHWKLVWULDO>WKHZLWQHVV@PDGHDVWDWHPHQWWKDW
1RV 8QLWHG6WDWHVY5LFNHWWVHWDO
FRQFOXVLRQRIKLVWULDO5LFNHWWVDVNHGWKHFRXUWWRDGPLWLQWR
HYLGHQFH D FHUWLILHG FRS\ RI WKH GRFNHW VKHHW IURP %HQQLH
5LFK¶VFDVH5LFNHWWVZDQWHGWRHVWDEOLVKWKHGDWH5LFKZDV
FKDUJHG KLV ILUVW DSSHDUDQFH LQ FRXUW WKH WLPH RI WKH
LQGLFWPHQWDQGWKDW5LFKZDVLQFXVWRG\DZDLWLQJWULDODWWKH
WLPHRIWKHVKRRWLQJ7KHGLVWULFWFRXUWUHDVRQHGWKDWWKHUH
ZDV QR UHODWLRQVKLS EHWZHHQ WKHVH IDFWV DQG WKH HYLGHQFH
DOUHDG\KHDUGLQWKHFRXUWURRP7KHRQO\HYLGHQFHKHDUGLQ
WKH FRXUWURRP FRQFHUQLQJ 5LFK ZDV WKDW KH FDOOHG WKH
DSDUWPHQWZKLFK%ULJJVRFFXSLHGDVNLQJIRUOHJDOKHOS7KH
GRFNHW VKHHW ZDV HLWKHU LUUHOHYDQW RU UHGXQGDQW DQG
FXPXODWLYH$IWHUUHYLHZLQJWKHUHFRUGWKHGLVWULFWFRXUWGLG
QRWDEXVHLWVGLVFUHWLRQLQUHIXVLQJWRDGPLWWKHGRFNHWVKHHW
7KH MXGJPHQW DQG VHQWHQFH RI ERWK 5LFNHWWV DQG
6ZDFNKDPPHUDUHDIILUPHG
-- 4 of 6 --
8QLWHG6WDWHVY5LFNHWWVHWDO 1RV
VHQWHQFLQJ6ZDFNKDPPHUFRQVHFXWLYHO\WRWKHXQGLVFKDUJHG
VWDWHVHQWHQFH)XUWKHUPRUHWKHGLVWULFWFRXUWGLGQRWHUULQ
FKRRVLQJ WR PDNH WKH VHQWHQFH FRQVHFXWLYH WR WKH PRUH
VLJQLILFDQWVWDWHDUPHGEDQNUREEHU\VHQWHQFHDVRSSRVHGWR
WKHWZROHVVHUVWDWHVHQWHQFHV
'DYLG5LFNHWWVDUJXHVLQGHSHQGHQWO\WKDWWKHGLVWULFWFRXUW
HUUHGLQKLVWULDOZKHQWKHFRXUWSHUPLWWHGMXURUVWRVXEPLW
ILYH TXHVWLRQV WR ZLWQHVVHV ZLWKRXW FRXQVHO ILUVW EHLQJ
DOORZHGWRUHYLHZWKRVHTXHVWLRQV5HFHQWO\LQ8QLWHG6WDWHV
Y&ROOLQV)G WK&LU ZHGLVFRXUDJHG
WKHXVHRIMXURUTXHVWLRQV:HKHOGKRZHYHUWKDWLIDGLVWULFW
FRXUW DOORZV WKLV SUDFWLFH VLJQLILFDQW FDXWLRQDU\ PHDVXUHV
PXVWEHXVHG,GDW+HUHQRFDXWLRQDU\PHDVXUHVZHUH
XVHG:KHQMXURUTXHVWLRQVDUHSRVHGWRWKHZLWQHVVFRXQVHO
PXVWEHJLYHQWKHRSSRUWXQLW\WRUHYLHZWKHPDQGKDYHWKHLU
REMHFWLRQV SODFHG LQ WKH UHFRUG EHIRUH WKH TXHVWLRQV DUH
VXEPLWWHGWRWKHMXU\7KLVSURFHGXUHZDVQRWIROORZHGLQWKLV
FDVH
7KHTXHVWLRQWKHQEHFRPHVLIWKLVLVDQHUURULVLWKDUPOHVV
+HUH ZKLOH ZH EHOLHYH LW ZDV HUURU D UHYLHZ RI WKH WRWDO
UHFRUGOHDGVWRWKHFRQFOXVLRQWKDWLWZDVKDUPOHVV'XULQJ
WKHVHYHUDOGD\VRIWHVWLPRQ\5LFNHWWV¶VFRXQVHOUHYLHZHGDOO
EXW WKHVH ILYH MXURU TXHVWLRQV 7KHVH ILYH TXHVWLRQV WKDW
VOLSSHG SDVW UHYLHZ RQ WKH WKLUG GD\ RI WULDO ZHUH QRW LQ
WKHPVHOYHV KLJKO\ SUHMXGLFLDO WR 5LFNHWWV 2I WKH ILYH
TXHVWLRQV RQO\ WZR FRXOG SRVVLEO\ EH FRQVWUXHG DV
SUHMXGLFLDO 'LG%HQQLH5LFKDZDLWLQJWULDORQGUXJDQG
JXQFKDUJHVKDYH/DXULH%ULJJVNLOOHGEHFDXVHVKHVQLWFKHG"
DQG 'LG WKH ZLWQHVV VHH WKH PXUGHU ZHDSRQ LQ DQRWKHU
SHUVRQ¶V KRXVH" 1HLWKHU RI WKHVH TXHVWLRQV VLJQLILFDQWO\
LPSDLUVWKHWKHRU\RIIHUHGE\WKHGHIHQVHWKDWVRPHRQHHOVH
NLOOHG/DXULH%ULJJV
7KHODVWLVVXHIRUUHYLHZLVZKHWKHUWKHGLVWULFWFRXUWDEXVHG
LWVGLVFUHWLRQLQIDLOLQJWRDGPLWLQWRHYLGHQFHDGRFNHWVKHHW
RI DQRWKHU FDVH 'XULQJ WKH WULDO 5LFNHWWV DGYDQFHG WKH
WKHRU\WKDW%HQQLH5LFKWKHQDZDLWLQJWULDOIRUGUXJDQGJXQ
FKDUJHV RUGHUHG WKH PXUGHU RI /DXULH %ULJJV $W WKH
1RV 8QLWHG6WDWHVY5LFNHWWVHWDO
PD\ KDYH EHHQ GLIIHUHQW IURP KLV WHVWLPRQ\ KHUH LQ FRXUW
7KHHDUOLHUVWDWHPHQWZDVEURXJKWWR\RXUDWWHQWLRQRQO\WR
KHOS \RX GHFLGH KRZ EHOLHYDEOH KLV WHVWLPRQ\ ZDV <RX
FDQQRW XVH LW DV SURRI RI DQ\WKLQJ HOVH´ 6ZDFNKDPPHU¶V
SURSRVHGLQVWUXFWLRQZLWKLWVH[SOLFLWKHDUVD\OLPLWDWLRQLVQRW
D FRUUHFW VWDWHPHQW RI WKH ODZ IRU WKH IDFWV LQ WKLV FDVH
6HYHUDO RXWRIFRXUW VWDWHPHQWV PDGH E\ 0F.LQQH\ ZHUH
PDGH XQGHU RDWK DQG KHQFH FRXOG EH XVHG DV VXEVWDQWLYH
HYLGHQFH )HG 5 (YLG G $ 6SHFLILFDOO\ WKH
8QLWHG 6WDWHV DGPLWWHG 0LFKDHO 0F.LQQH\¶V VZRUQ
VWDWHPHQWVDWKLVJXLOW\SOHDKHDULQJRQ1RYHPEHU
DQGKLVVZRUQJUDQGMXU\WHVWLPRQ\RQ'HFHPEHU
6ZDFNKDPPHU¶V SURSRVHG MXU\ LQVWUXFWLRQ IDLOHG WR
GLVWLQJXLVKEHWZHHQVZRUQVWDWHPHQWVWKDWFRXOGEHXVHGDV
VXEVWDQWLYHHYLGHQFHDQGXQVZRUQVWDWHPHQWVWKDWFRXOGQRW
7KHGLVWULFWFRXUWWKHUHIRUHGLGQRWDEXVHLWVGLVFUHWLRQLQ
UHIXVLQJWRJLYHKLVSURSRVHGLQVWUXFWLRQ
6ZDFNKDPPHU DOVR DUJXHV WKDW WKH 8QLWHG 6WDWHV ZDV
UHTXLUHG WR SURYH SUHPHGLWDWLRQ IRU WKH FKDUJH RI ILUHDUP
PXUGHUVHWIRUWKLQFRXQWWKUHH)XUWKHUPRUH6ZDFNKDPPHU
DUJXHV WKH IDLOXUH WR GR VR LQ WKLV FDVH UHVXOWHG LQ D
FRQVWUXFWLYHDPHQGPHQWRIWKHLQGLFWPHQWZKLFKYLRODWHVWKH
)LIWK$PHQGPHQWEHFDXVHWKH³DFFXVHG>ZDVQRW@WULHGRQO\
RQWKRVHRIIHQVHVSUHVHQWHGLQDQLQGLFWPHQWDQGUHWXUQHGE\
DJUDQGMXU\´8QLWHG6WDWHVY0DQQLQJ)G
WK&LU FLWLQJ6WLURQHY8QLWHG6WDWHV86
7KHWKLUGFRXQWFKDUJHV6ZDFNKDPPHUZLWKILUHDUPPXUGHU
LQIXUWKHUDQFHRIDGUXJFRQVSLUDF\LQYLRODWLRQRI86&
L >QRZ FRGLILHG DV M @ 7KLV VWDWXWH VWDWHV ³$
SHUVRQZKRLQWKHFRXUVHRIDYLRODWLRQRI> F @FDXVHV
WKHGHDWKRIDSHUVRQWKURXJKWKHXVHRIDILUHDUPVKDOO±
LI WKH NLOOLQJ LV D PXUGHU DV GHILQHG LQ VHFWLRQ EH
SXQLVKHGE\GHDWKRUE\LPSULVRQPHQWIRUDQ\WHUPRI\HDUV
RUIRUOLIH´86& M
7KLVVWDWXWHLQFRUSRUDWHVWKHGHILQLWLRQRIPXUGHUIRXQGLQ
86&7KHSODLQODQJXDJHRI86&
-- 5 of 6 --
8QLWHG6WDWHVY5LFNHWWVHWDO 1RV
EURDGO\GHILQHVPXUGHULQFRUSRUDWLQJERWKILUVWDQGVHFRQG
GHJUHH PXUGHU ZLWKLQ LWV GHILQLWLRQ 86& D
VWDWHV
D 0XUGHULVWKHXQODZIXONLOOLQJRIDKXPDQEHLQJ
ZLWKPDOLFHDIRUHWKRXJKW(YHU\PXUGHUSHUSHWUDWHGE\
SRLVRQ O\LQJ LQ ZDLW RU DQ\ RWKHU NLQG RI ZLOOIXO
GHOLEHUDWH PDOLFLRXV DQG SUHPHGLWDWHG NLOOLQJ LV
PXUGHULQWKHILUVWGHJUHH
$Q\RWKHUPXUGHULVPXUGHULQWKHVHFRQGGHJUHH
7KLVSURYLVLRQGRHVWZRWKLQJVLWGHILQHVPXUGHU³DVWKH
XQODZIXONLOOLQJRIDKXPDQEHLQJZLWKPDOLFHDIRUHWKRXJKW´
DQGGLYLGHVPXUGHULQWRILUVWDQGVHFRQGGHJUHHV$OOWKDWLV
QHFHVVDU\ WR SURYH WKDW D GHDWK LV D PXUGHU XQGHU VHFWLRQ
M WKHQLVWRVKRZWKDWLWZDVDQ³XQODZIXONLOOLQJRID
KXPDQEHLQJZLWKPDOLFHDIRUHWKRXJKW´7KXVSURRIRIRQO\
VHFRQGGHJUHHPXUGHULVVXIILFLHQWIRUSURYLQJPXUGHUXQGHU
VHFWLRQDQGJDLQLQJDFRQYLFWLRQXQGHUVHFWLRQ M
%HFDXVH WKH 8QLWHG 6WDWHV ZDV QRW UHTXLUHG WR SURYH
SUHPHGLWDWLRQLQRUGHUWRFRQYLFW6ZDFNKDPPHUIRUPXUGHU
DVGHILQHGLQVHFWLRQ6ZDFNKDPPHU¶VDUJXPHQWWKDW
WKHUH ZDV D FRQVWUXFWLYH DPHQGPHQW RI FRXQW WKUHH RI WKH
LQGLFWPHQW DOVR IDLOV &RXQW WKUHH FKDUJHG 6ZDFNKDPPHU
ZLWK D ILUHDUP PXUGHU GXULQJ RU LQ UHODWLRQ WR D GUXJ
WUDIILFNLQJ FULPH 86& M $Q\ DGGLWLRQDO
ODQJXDJH LQ FRXQW WKUHH LQGLFDWLQJ WKDW 6ZDFNKDPPHU
FRPPLWWHG SUHPHGLWDWHG PXUGHU LV FOHDUO\ H[WUDQHRXV DQG
XQQHFHVVDU\WRFRQYLFWWKHGHIHQGDQWXQGHUVHFWLRQ M
8QLWHG6WDWHVY0LOOHU86
6ZDFNKDPPHUQH[WDUJXHVWKDWWKHGLVWULFWFRXUWDEXVHGLWV
GLVFUHWLRQLQKLVVHQWHQFLQJ6ZDFNKDPPHUDVVHUWVWKDWWKH
WHVWLPRQ\RIWKH8QLWHG6WDWHV¶VNH\ZLWQHVVIRUHVWDEOLVKLQJ
GUXJTXDQWLWLHVZDVHTXLYRFDO7KHZLWQHVV5DFKHO:HVW
WHVWLILHGWKDW6ZDFNKDPPHUVROGDFRXSOHRXQFHVRIFRFDLQH
SRZGHUHDFKZHHNIRUDWKUHHPRQWKSHULRG7KLVDPRXQW
DORQHLVZHOORYHUILYHKXQGUHGJUDPV5HJDUGLQJWKHDPRXQW
RIFUDFNFRFDLQHWKHZLWQHVVWHVWLILHGWKDWVKHREWDLQHGIRXU
WZHQW\GROODUURFNVIURP6ZDFNKDPPHUDQ\GD\VKHFRXOG
1RV 8QLWHG6WDWHVY5LFNHWWVHWDO
6KH DOVR WHVWLILHG WKDW VKH VDZ WKH GHIHQGDQW PDQXIDFWXUH
VTXDUHVRIFUDFNFRFDLQHDQGEUHDNHDFKVTXDUHLQWRDVPDQ\
DV ILIW\ WR RQH KXQGUHG URFNV $SSUR[LPDWHO\ ILIW\ URFNV
FRQWDLQ WKH ILYH JUDPV QHFHVVDU\ WR PHHW WKH GUXJ
VSHFLILFDWLRQV LQ WKH LQGLFWPHQW 7KH GLVWULFW FRXUW FDQQRW
LJQRUHWKHMXU\¶VILQGLQJVDVWRGUXJTXDQWLW\XQOHVVWKHUHLV
LQVXIILFLHQWHYLGHQFHWRVXSSRUWWKRVHILQGLQJV6HH8QLWHG
6WDWHV Y )ORZDO )G WK &LU MXU\
GHWHUPLQHV PLQLPXP GUXJ DPRXQW 8QLWHG 6WDWHV Y
&RQQHU\)G WK&LU FRXUWPD\QRWLJQRUH
MXU\YHUGLFWLIWKHUHLVVXIILFLHQWHYLGHQFHWRVXSSRUWLW 2Q
UHYLHZLQJWKHWHVWLPRQ\ZHFRQFOXGHWKHUHLVDPSOHHYLGHQFH
WR VXSSRUW WKH MXU\¶V ILQGLQJV WKDW WKH GUXJ FRQVSLUDF\
LQYROYHGDWOHDVWILYHKXQGUHGJUDPVRIFRFDLQHSRZGHUDQG
ILYHJUDPVRIFUDFNFRFDLQH
0RUHRYHUWKHGLVWULFWFRXUWGLGQRWDEXVHLWVGLVFUHWLRQLQ
PDNLQJ6ZDFNKDPPHU¶VIHGHUDOVHQWHQFHVFRQVHFXWLYHWRWKH
VWDWHVHQWHQFHKHZDVDOUHDG\VHUYLQJIRUDUPHGEDQNUREEHU\
DQGWZROHVVHUVWDWHVHQWHQFHV,Q6ZDFNKDPPHUZDV
FRQYLFWHGLQVWDWHFRXUWRIEDQNUREEHU\DQGIHORQ\ILUHDUP
FKDUJHV+HHVFDSHGZKLOHDZDLWLQJWULDORQWKRVHFKDUJHVDQG
ZDVVXEVHTXHQWO\FRQYLFWHGIRUWKLVHVFDSH7KHVHQWHQFLQJ
PHPRUDQGXP XUJHG WKH GLVWULFW FRXUW WR PDNH
6ZDFNKDPPHU¶V IHGHUDO VHQWHQFHV FRQVHFXWLYH WR KLV VWDWH
VHQWHQFHEHFDXVHDPRQJRWKHUWKLQJV6ZDFNKDPPHUGLGQRW
DFFHSWUHVSRQVLELOLW\IRUWKHEDQNUREEHU\DVHYLGHQFHGE\KLV
HVFDSH
7KHFRQWUROOLQJ6HQWHQFLQJ*XLGHOLQH* F VWDWHV³WKH
VHQWHQFH IRU WKH LQVWDQW RIIHQVH PD\ EH LPSRVHG WR UXQ
FRQFXUUHQWO\ SDUWLDOO\FRQFXUUHQWO\RUFRQVHFXWLYHO\WRWKH
SULRU XQGLVFKDUJHG WHUP RI LPSULVRQPHQW WR DFKLHYH D
UHDVRQDEOHSXQLVKPHQWIRUWKHLQVWDQWRIIHQVH´6XEVHFWLRQ
F JLYHV GLVWULFW FRXUWV GLVFUHWLRQ WR IDVKLRQ VHQWHQFHV
DSSURSULDWH IRU FRPSOH[ VLWXDWLRQV 866* * F
FRPPHQWDU\RQVXEVHFWLRQ F +HUH6ZDFNKDPPHUKDG
VHYHUDO XQGLVFKDUJHG WHUPV RI LPSULVRQPHQW ZKLOH DOVR
KDYLQJHVFDSHGIURPSULVRQ1RWLQJDQGEHLQJDZDUHRIWKLV
GLVFUHWLRQ WKH GLVWULFW FRXUW GLG QRW FRPPLW HUURU LQ
-- 6 of 6 --
Conecte o Omnilex para pesquisar o corpus jurídico pelo seu assistente de IA.