Vous êtes sur la page 1sur 5

7RGD\LV0RQGD\$XJXVW

5HSXEOLFRIWKH3KLOLSSLQHV
6835(0(&2857
0DQLOD
6(&21'',9,6,21
*51R2FWREHU
&<17+,$6%2/263HWLWLRQHU
YV
'$1,/27%2/265HVSRQGHQW
'(&,6,21
0(1'2=$-
7KLVLVDSHWLWLRQIRUUHYLHZRQFHUWLRUDULXQGHU5XOHRIWKH5XOHVRI&RXUWVHHNLQJDUHYLHZRIWKH'HFHPEHU
'HFLVLRQ RI WKH &RXUW RI$SSHDOV &$  LQ DQ RULJLQDO DFWLRQ IRU FHUWLRUDUL XQGHU 5XOH  HQWLWOHG 'DQLOR 7
%RORV Y +RQ /RULIHO /DFDS 3DKLPQD DQG &\QWKLD 6 %RORV GRFNHWHG DV &$*5 63 1R  UHYHUVLQJ WKH
-DQXDU\   2UGHU RI WKH 5HJLRQDO 7ULDO &RXUW RI 3DVLJ &LW\ %UDQFK  57&  GHFODULQJ LWV GHFLVLRQ
SURQRXQFLQJWKHQXOOLW\RIPDUULDJHEHWZHHQSHWLWLRQHUDQGUHVSRQGHQWILQDODQGH[HFXWRU\
2Q-XO\SHWLWLRQHU&\QWKLD%RORV &\QWKLD ILOHGDSHWLWLRQIRUWKHGHFODUDWLRQRIQXOOLW\RIKHUPDUULDJHWR
UHVSRQGHQW'DQLOR%RORV 'DQLOR XQGHU$UWLFOHRIWKH)DPLO\&RGHGRFNHWHGDV-'5&1R
$IWHUWULDORQWKHPHULWVWKH57&JUDQWHGWKHSHWLWLRQIRUDQQXOPHQWLQD'HFLVLRQGDWHG$XJXVWZLWKWKH
IROORZLQJGLVSRVLWLRQ
:+(5()25( MXGJPHQW LV KHUHE\ UHQGHUHG GHFODULQJ WKH PDUULDJH EHWZHHQ SHWLWLRQHU &<17+,$ 6 %2/26 DQG
UHVSRQGHQW '$1,/2 7 %2/26 FHOHEUDWHG RQ )HEUXDU\   DV QXOO DQG YRLG DE LQLWLR RQ WKH JURXQG RI
SV\FKRORJLFDOLQFDSDFLW\RQWKHSDUWRIERWKSHWLWLRQHUDQGUHVSRQGHQWXQGHU$UWLFOHRIWKH)DPLO\&RGHZLWKDOO
WKHOHJDOFRQVHTXHQFHVSURYLGHGE\ODZ
)XUQLVKWKH/RFDO&LYLO5HJLVWUDURI6DQ-XDQDVZHOODVWKH1DWLRQDO6WDWLVWLFV2IILFH 162 FRS\RIWKLVGHFLVLRQ
6225'(5('
$ FRS\ RI VDLG GHFLVLRQ ZDV UHFHLYHG E\ 'DQLOR RQ $XJXVW   +H WLPHO\ ILOHG WKH 1RWLFH RI $SSHDO RQ
6HSWHPEHU
,Q DQ RUGHU GDWHG 6HSWHPEHU   WKH 57& GHQLHG GXH FRXUVH WR WKH DSSHDO IRU 'DQLORV IDLOXUH WR ILOH WKH
UHTXLUHG PRWLRQ IRU UHFRQVLGHUDWLRQ RU QHZ WULDO LQ YLRODWLRQ RI 6HFWLRQ  RI WKH 5XOH RQ 'HFODUDWLRQ RI$EVROXWH
1XOOLW\RI9RLG0DUULDJHVDQG$QQXOPHQWRI9RLGDEOH0DUULDJHV
2Q1RYHPEHUDPRWLRQWRUHFRQVLGHUWKHGHQLDORI'DQLORVDSSHDOZDVOLNHZLVHGHQLHG
2Q -DQXDU\   WKH 57& LVVXHG WKH RUGHU GHFODULQJ LWV $XJXVW   GHFLVLRQ ILQDO DQG H[HFXWRU\ DQG
JUDQWLQJWKH0RWLRQIRU(QWU\RI-XGJPHQWILOHGE\&\QWKLD
1RWLQFRQIRUPLW\'DQLORILOHGZLWKWKH&$DSHWLWLRQIRU FHUWLRUDULXQGHU5XOHVHHNLQJWRDQQXOWKHRUGHUVRIWKH
57&DVWKH\ZHUHUHQGHUHGZLWKJUDYHDEXVHRIGLVFUHWLRQDPRXQWLQJWRODFNRULQH[FHVVRIMXULVGLFWLRQWRZLW
WKH6HSWHPEHU2UGHUZKLFKGHQLHGGXHFRXUVHWR'DQLORVDSSHDO WKH1RYHPEHU2UGHUZKLFK
GHQLHGWKHPRWLRQWRUHFRQVLGHUWKH6HSWHPEHU2UGHUDQG WKH-DQXDU\2UGHUZKLFKGHFODUHG
WKH $XJXVW   GHFLVLRQ DV ILQDO DQG H[HFXWRU\ 'DQLOR DOVR SUD\HG WKDW KH EH GHFODUHG SV\FKRORJLFDOO\
FDSDFLWDWHGWRUHQGHUWKHHVVHQWLDOPDULWDOREOLJDWLRQVWR&\QWKLDZKRVKRXOGEHGHFODUHGJXLOW\RIDEDQGRQLQJKLP
WKHIDPLO\KRPHDQGWKHLUFKLOGUHQ
$V HDUOLHU VWDWHG WKH &$ JUDQWHG WKH SHWLWLRQ DQG UHYHUVHG DQG VHW DVLGH WKH DVVDLOHG RUGHUV RI WKH 57& 7KH
DSSHOODWHFRXUWVWDWHGWKDWWKHUHTXLUHPHQWRIDPRWLRQIRUUHFRQVLGHUDWLRQDVDSUHUHTXLVLWHWRDSSHDOXQGHU$0
1R 6& GLG QRW DSSO\ LQ WKLV FDVH DV WKH PDUULDJH EHWZHHQ &\QWKLD DQG 'DQLOR ZDV VROHPQL]HG RQ
)HEUXDU\EHIRUHWKH)DPLO\&RGHWRRNHIIHFW,WUHOLHGRQWKHUXOLQJRIWKLV&RXUWLQ(QULFRY+HLUVRI6SV
0HGLQDFHOLWRWKHHIIHFWWKDWWKHFRYHUDJH>RI$01R6&@H[WHQGVRQO\WRWKRVHPDUULDJHVHQWHUHGLQWR
GXULQJWKHHIIHFWLYLW\RIWKH)DPLO\&RGHZKLFKWRRNHIIHFWRQ$XJXVW
&\QWKLD VRXJKW UHFRQVLGHUDWLRQ RI WKH UXOLQJ E\ ILOLQJ KHU 0DQLIHVWDWLRQ ZLWK 0RWLRQ IRU ([WHQVLRQ RI 7LPH WR )LOH
0RWLRQ IRU 5HFRQVLGHUDWLRQ DQG 0RWLRQ IRU 3DUWLDO 5HFRQVLGHUDWLRQ >RI WKH +RQRUDEOH &RXUWV 'HFLVLRQ GDWHG

'HFHPEHU  @7KH &$ KRZHYHU LQ LWV )HEUXDU\   5HVROXWLRQ GHQLHG WKH PRWLRQ IRU H[WHQVLRQ RI
WLPHFRQVLGHULQJWKDWWKHGD\UHJOHPHQWDU\SHULRGWRILOHDPRWLRQIRUUHFRQVLGHUDWLRQLVQRQH[WHQGLEOHSXUVXDQW
WR6HFWLRQ5XOH5XOHVRQ&LYLO3URFHGXUHFLWLQJ+DEDOX\DVY-DSVRQ6&5$7KHPRWLRQIRU
SDUWLDOUHFRQVLGHUDWLRQZDVOLNHZLVHGHQLHG
+HQFH&\QWKLDLQWHUSRVHVWKHSUHVHQWSHWLWLRQYLD5XOHRIWKH5XOHVRI&RXUWUDLVLQJWKHIROORZLQJ
,668(6
,
7+(&28572)$33($/6*5$9(/<(55(',1,668,1*7+(48(67,21(''(&,6,21'$7('
'(&(0%(5&216,'(5,1*7+$7
$ 7+( 3521281&(0(17 2) 7+( +2125$%/( &2857 ,1 (15,&2 9 636
0(',1$&(/, ,6 127 $33/,&$%/( 72 7+( ,167$17 &$6( &216,'(5,1* 7+$7 7+(
)$&76$1'7+(,668(7+(5(,1$5(1276,0,/$5727+(,167$17&$6(
%$6680,1*$5*8(1'27+$77+(3521281&(0(172)7+(+2125$%/(&2857
,6$3//,&$%/(727+(,167$17&$6(,7658/,1*,1(15,&296360(',1$&(/,,6
3$7(17/< (5521(286 %(&$86( 7+( 3+5$6( 81'(5 7+( )$0,/< &2'( ,1 $0
12 6& 3(57$,16 72 7+( :25' 3(7,7,216 5$7+(5 7+$1 72 7+( :25'
0$55,$*(6
& )520 7+( )25(*2,1*$0 12 6& (17,7/(' 58/( 21 '(&/$5$7,21
2) $%62/87( 18//,7< 2) 92,' 0$55,$*(6 $1' $118/0(17 2) 92,'$%/(
0$55,$*(6,6$33/,&$%/(720$55,$*(662/(01,=('%()25(7+(())(&7,9,7<
2)7+()$0,/<&2'(+(1&($027,21)255(&216,'(5$7,21,6$35(&21',7,21
)25$1$33($/%<+(5(,15(6321'(17
' &216,'(5,1* 7+$7 +(5(,1 5(6321'(17 5()86(' 72 &203/< :,7+ $
35(&21',7,21 )25 $33($/ $ 5(/$;$7,21 2) 7+( 58/(6 21 $33($/ ,6 127
3523(5,1+,6&$6(
,,
7+( &2857 2) $33($/6 *5$9(/< (55(' ,1 ,668,1* 7+( 48(67,21(' 5(62/87,21
'$7(' )(%58$5<   &216,'(5,1* 7+( )25(*2,1* $1' 7+( )$&78$/
&,5&8067$1&(62)7+,6&$6(
,,,
7+( 7(1(76 2) -867,&($1' )$,5 3/$< 7+( 129(/7<$1' ,03257$1&( 2) 7+( ,668(
$1'7+(63(&,$/&,5&8067$1&(6,17+,6&$6(-867,)<$1':$55$17$/,%(5$/9,(:
2) 7+( 58/(6 ,1 )$925 2) 7+( 3(7,7,21(5 025(29(5 7+( ,167$17 3(7,7,21 ,6
0(5,725,286$1'127,17(1'(')25'(/$<
)URPWKHDUJXPHQWVDGYDQFHGE\&\QWKLDWKHSULQFLSDOTXHVWLRQWREHUHVROYHGLVZKHWKHURUQRW$01R
6&HQWLWOHG5XOHRQ'HFODUDWLRQRI$EVROXWH1XOOLW\RI9RLG0DUULDJHVDQG$QQXOPHQWRI9RLGDEOH0DUULDJHVLV
DSSOLFDEOHWRWKHFDVHDWEHQFK
3HWLWLRQHUDUJXHVWKDW$01R6&LVDOVRDSSOLFDEOHWRPDUULDJHVVROHPQL]HGEHIRUHWKHHIIHFWLYLW\RIWKH
)DPLO\&RGH$FFRUGLQJWR&\QWKLDWKH&$HUURQHRXVO\DQFKRUHGLWVGHFLVLRQWRDQ RELWHUGLFWXPLQWKHDIRUHFLWHG
(QULFRFDVHZKLFKGLGQRWHYHQLQYROYHDPDUULDJHVROHPQL]HGEHIRUHWKHHIIHFWLYLW\RIWKH)DPLO\&RGH
6KH DGGHG WKDW HYHQ DVVXPLQJ DUJXHQGR WKDW WKH SURQRXQFHPHQW LQ WKH VDLG FDVH FRQVWLWXWHG D GHFLVLRQ RQ LWV
PHULWVVWLOOWKHVDPHFDQQRWEHDSSOLHGEHFDXVHRIWKHVXEVWDQWLDOGLVSDULW\LQWKHIDFWXDOPLOLHXRIWKH(QULFRFDVH
IURPWKLVFDVH,QWKHVDLGFDVHERWKWKHPDUULDJHVVRXJKWWREHGHFODUHGQXOOZHUHVROHPQL]HGDQGWKHDFWLRQIRU
GHFODUDWLRQRIQXOOLW\ZDVILOHGDIWHUWKHHIIHFWLYLW\RIERWKWKH)DPLO\&RGHLQDQGRI$01R6&LQ
,QWKLVFDVHWKHPDUULDJHZDVVROHPQL]HGEHIRUHWKHHIIHFWLYLW\RIWKH)DPLO\&RGHDQG$01R6&
ZKLOHWKHDFWLRQZDVILOHGDQGGHFLGHGDIWHUWKHHIIHFWLYLW\RIERWK
'DQLORLQKLV&RPPHQWFRXQWHUVWKDW$01R6&LVQRWDSSOLFDEOHEHFDXVHKLVPDUULDJHZLWK&\QWKLD
ZDVVROHPQL]HGRQ)HEUXDU\\HDUVEHIRUHLWVHIIHFWLYLW\+HIXUWKHUVWUHVVHVWKHPHULWRULRXVQDWXUHRIKLV
DSSHDO IURP WKH GHFLVLRQ RI WKH 57& GHFODULQJ WKHLU PDUULDJH DV QXOO DQG YRLG GXH WR KLV SXUSRUWHG SV\FKRORJLFDO
LQFDSDFLW\ DQG FLWLQJ WKH PHUH IDLOXUH RI WKH SDUWLHV ZKR ZHUH VXSSRVHGO\ UHPLVV EXW QRW LQFDSDFLWDWHG WR
UHQGHUPDULWDOREOLJDWLRQVDVUHTXLUHGXQGHU$UWLFOHRIWKH)DPLO\&RGH
7KH&RXUWILQGVWKHSHWLWLRQGHYRLGRIPHULW
3HWLWLRQHULQVLVWVWKDW$01R6&JRYHUQVWKLVFDVH+HUVWDQFHLVXQDYDLOLQJ7KH5XOHRQ'HFODUDWLRQRI
$EVROXWH 1XOOLW\ RI 9RLG 0DUULDJHV DQG $QQXOPHQW RI 9RLGDEOH 0DUULDJHV DV FRQWDLQHG LQ $0 1R 6&
ZKLFKWKH&RXUWSURPXOJDWHGRQ0DUFKLVH[SOLFLWLQLWVVFRSH6HFWLRQRIWKH5XOHLQIDFWUHDGV

6HFWLRQ  6FRSH  7KLV 5XOH VKDOO JRYHUQ SHWLWLRQV IRU GHFODUDWLRQ RI DEVROXWH QXOOLW\ RI YRLG PDUULDJHV DQG
DQQXOPHQWRIYRLGDEOHPDUULDJHVXQGHUWKH)DPLO\&RGHRIWKH3KLOLSSLQHV
7KH5XOHVRI&RXUWVKDOODSSO\VXSSOHWRULO\
7KHFDWHJRULFDOODQJXDJHRI$01R6&OHDYHVQRURRPIRUGRXEW7KHFRYHUDJHH[WHQGVRQO\WRWKRVH
PDUULDJHVHQWHUHGLQWRGXULQJWKHHIIHFWLYLW\RIWKH)DPLO\&RGHZKLFKWRRNHIIHFWRQ$XJXVW 7KHUXOHVHWV
DGHPDUFDWLRQOLQHEHWZHHQPDUULDJHVFRYHUHGE\WKH)DPLO\&RGHDQGWKRVHVROHPQL]HGXQGHUWKH&LYLO&RGH
7KH &RXUW ILQGV ,WVHOI XQDEOH WR VXEVFULEH WR SHWLWLRQHUV LQWHUSUHWDWLRQ WKDW WKH SKUDVH XQGHU WKH )DPLO\ &RGH LQ
$01R6&UHIHUVWRWKHZRUGSHWLWLRQVUDWKHUWKDQWRWKHZRUGPDUULDJHV
$FDUGLQDOUXOHLQVWDWXWRU\FRQVWUXFWLRQLVWKDWZKHQWKHODZLVFOHDUDQGIUHHIURPDQ\GRXEWRUDPELJXLW\WKHUHLV
QRURRPIRUFRQVWUXFWLRQRULQWHUSUHWDWLRQ7KHUHLVRQO\URRPIRUDSSOLFDWLRQ$VWKHVWDWXWHLVFOHDUSODLQDQGIUHH
IURP DPELJXLW\ LW PXVW EH JLYHQ LWV OLWHUDO PHDQLQJ DQG DSSOLHG ZLWKRXW DWWHPSWHG LQWHUSUHWDWLRQ 7KLV LV ZKDW LV
NQRZQDVWKHSODLQPHDQLQJUXOHRUYHUEDOHJLV,WLVH[SUHVVHGLQWKHPD[LPLQGH[DQLPLVHUPRRUVSHHFKLVWKH
LQGH[RILQWHQWLRQ)XUWKHUPRUHWKHUHLVWKHPD[LPYHUEDOHJLVQRQHVWUHFHGHQGXPRUIURPWKHZRUGVRIDVWDWXWH
WKHUHVKRXOGEHQRGHSDUWXUH
7KHUHLVQREDVLVIRUSHWLWLRQHUVDVVHUWLRQHLWKHUWKDWWKHWHQHWVRIVXEVWDQWLDOMXVWLFHWKHQRYHOW\DQGLPSRUWDQFHRI
WKHLVVXHDQGWKHPHULWRULRXVQDWXUHRIWKLVFDVHZDUUDQWDUHOD[DWLRQRIWKH5XOHVLQKHUIDYRU7LPHDQGDJDLQWKH
&RXUWKDVVWUHVVHGWKDWWKHUXOHVRISURFHGXUHPXVWEHIDLWKIXOO\FRPSOLHGZLWKDQGVKRXOGQRWEHGLVFDUGHGZLWKWKH
PHUHH[SHGLHQF\RIFODLPLQJVXEVWDQWLDOPHULW$VDFRUROODU\UXOHVSUHVFULELQJWKHWLPHIRUGRLQJVSHFLILFDFWVRU
IRU WDNLQJ FHUWDLQ SURFHHGLQJV DUH FRQVLGHUHG DEVROXWHO\ LQGLVSHQVDEOHWR SUHYHQW QHHGOHVV GHOD\V DQG WR RUGHUO\
DQGSURPSWO\GLVFKDUJHMXGLFLDOEXVLQHVV%\WKHLUYHU\QDWXUHWKHVHUXOHVDUHUHJDUGHGDVPDQGDWRU\
7KH DSSHOODWH FRXUW ZDV FRUUHFW LQ GHQ\LQJ SHWLWLRQHUV PRWLRQ IRU H[WHQVLRQ RI WLPH WR ILOH D PRWLRQ IRU
UHFRQVLGHUDWLRQ FRQVLGHULQJ WKDW WKH UHJOHPHQWDU\ SHULRG IRU ILOLQJ WKH VDLG PRWLRQ IRU UHFRQVLGHUDWLRQ LV QRQ
H[WHQGLEOH$VSURQRXQFHGLQ$SH[0LQLQJ&R,QFY&RPPLVVLRQHURI,QWHUQDO5HYHQXH
7KH UXOH LV DQG KDV EHHQ WKDW WKH SHULRG IRU ILOLQJ D PRWLRQ IRU UHFRQVLGHUDWLRQ LV QRQH[WHQGLEOH 7KH &RXUW KDV
PDGHWKLVFOHDUDVHDUO\DVLQ+DEDOX\DV(QWHUSULVHVYV-DS]RQ6LQFHWKHQWKH&RXUWKDVFRQVLVWHQWO\DQG
VWULFWO\DGKHUHGWKHUHWRDYYSKLO
*LYHQWKHDERYHZHUXOHZLWKRXWKHVLWDWLRQWKDWWKHDSSHOODWHFRXUWVGHQLDORISHWLWLRQHUVPRWLRQIRUUHFRQVLGHUDWLRQ
LVMXVWLILHGSUHFLVHO\EHFDXVHSHWLWLRQHUVHDUOLHUPRWLRQIRUH[WHQVLRQRIWLPHGLGQRWVXVSHQGWROOWKHUXQQLQJRIWKH
GD\ UHJOHPHQWDU\ SHULRG IRU ILOLQJ D PRWLRQ IRU UHFRQVLGHUDWLRQ 8QGHU WKH FLUFXPVWDQFHV WKH &$ GHFLVLRQ KDV
DOUHDG\ DWWDLQHG ILQDOLW\ ZKHQ SHWLWLRQHU ILOHG LWV PRWLRQ IRU UHFRQVLGHUDWLRQ ,W IROORZV WKDW WKH VDPH GHFLVLRQ ZDV
DOUHDG\EH\RQGWKHUHYLHZMXULVGLFWLRQRIWKLV&RXUW
,Q ILQH WKH &$ FRPPLWWHG QR UHYHUVLEOH HUURU LQ VHWWLQJ DVLGH WKH 57& GHFLVLRQ ZKLFK GHQLHG GXH FRXUVH WR
UHVSRQGHQWVDSSHDODQGGHQ\LQJSHWLWLRQHUVPRWLRQIRUH[WHQVLRQRIWLPHWRILOHDPRWLRQIRUUHFRQVLGHUDWLRQ
$SSHDOLVDQHVVHQWLDOSDUWRIRXUMXGLFLDOV\VWHP,WVSXUSRVHLVWREULQJXSIRUUHYLHZDILQDOMXGJPHQWRIWKHORZHU
FRXUW 7KH FRXUWV VKRXOG WKXV SURFHHG ZLWK FDXWLRQ VR DV QRW WR GHSULYH D SDUW\ RI KLV ULJKW WR DSSHDO ,Q WKH
UHFHQW FDVH RI $OPHORU Y 57& RI /DV 3LQDV &LW\ %U  WKH &RXUW UHLWHUDWHG :KLOH WKH ULJKW WR DSSHDO LV D
VWDWXWRU\QRWDQDWXUDOULJKWQRQHWKHOHVVLWLVDQHVVHQWLDOSDUWRIRXUMXGLFLDOV\VWHPDQGFRXUWVVKRXOGSURFHHGZLWK
FDXWLRQVRDVQRWWRGHSULYHDSDUW\RIWKHULJKWWRDSSHDOEXWUDWKHUHQVXUHWKDWHYHU\SDUW\OLWLJDQWKDVWKHDPSOHVW
RSSRUWXQLW\IRUWKHSURSHUDQGMXVWGLVSRVLWLRQRIKLVFDXVHIUHHIURPWKHFRQVWUDLQWVRIWHFKQLFDOLWLHV
,Q WKH FDVH DW EHQFK WKH UHVSRQGHQW VKRXOG EH JLYHQ WKH IXOOHVW RSSRUWXQLW\ WR HVWDEOLVK WKH PHULWV RI KLV DSSHDO
FRQVLGHULQJWKDWZKDWLVDWVWDNHLVWKHVDFURVDQFWLQVWLWXWLRQRIPDUULDJH
1ROHVVWKDQWKH&RQVWLWXWLRQUHFRJQL]HVPDUULDJHDVDQLQYLRODEOHVRFLDOLQVWLWXWLRQ7KLVFRQVWLWXWLRQDOSROLF\
LVHFKRHGLQRXU)DPLO\&RGH$UWLFOHWKHUHRIHPSKDVL]HVLWVSHUPDQHQFHDQGLQYLRODELOLW\WKXV
$UWLFOH  0DUULDJH LV D VSHFLDO FRQWUDFW RI SHUPDQHQW XQLRQ EHWZHHQ D PDQ DQG D ZRPDQ HQWHUHG LQWR LQ
DFFRUGDQFH ZLWK ODZ IRU WKH HVWDEOLVKPHQW RI FRQMXJDO DQG IDPLO\ OLIH ,W LV WKH IRXQGDWLRQ RI WKH IDPLO\ DQG DQ
LQYLRODEOH VRFLDO LQVWLWXWLRQ ZKRVH QDWXUH FRQVHTXHQFHV DQG LQFLGHQWV DUH JRYHUQHG E\ ODZ DQG QRW VXEMHFW WR
VWLSXODWLRQ H[FHSW WKDW PDUULDJH VHWWOHPHQWV PD\ IL[ WKH SURSHUW\ UHODWLRQV GXULQJ WKH PDUULDJH ZLWKLQ WKH OLPLWV
SURYLGHGE\WKLV&RGH
7KLV&RXUWLVQRWXQPLQGIXORIWKHFRQVWLWXWLRQDOSROLF\WRSURWHFWDQGVWUHQJWKHQWKHIDPLO\DVWKHEDVLFDXWRQRPRXV
VRFLDOLQVWLWXWLRQDQGPDUULDJHDVWKHIRXQGDWLRQRIWKHIDPLO\
2XUIDPLO\ODZLVEDVHGRQWKHSROLF\WKDWPDUULDJHLVQRWDPHUHFRQWUDFWEXWDVRFLDOLQVWLWXWLRQLQZKLFKWKH6WDWH
LV YLWDOO\ LQWHUHVWHG 7KH 6WDWH ILQGV QR VWURQJHU DQFKRU WKDQ RQ JRRG VROLG DQG KDSS\ IDPLOLHV 7KH EUHDN XS RI
IDPLOLHVZHDNHQVRXUVRFLDODQGPRUDOIDEULFDQGKHQFHWKHLUSUHVHUYDWLRQLVQRWWKHFRQFHUQDORQHRIWKHIDPLO\
PHPEHUV
:+(5()25(WKHSHWLWLRQLV'(1,('

6225'(5('
-26(&$75$/0(1'2=$
$VVRFLDWH-XVWLFH
:(&21&85
$1721,27&$53,2
$VVRFLDWH-XVWLFH
&KDLUSHUVRQ
$1721,2('8$5'2%1$&+85$
$VVRFLDWH-XVWLFH

7(5(6,7$-/(21$5'2'(&$6752
$VVRFLDWH-XVWLFH

',26'$'203(5$/7$
$VVRFLDWH-XVWLFH
$77(67$7,21
,DWWHVWWKDWWKHFRQFOXVLRQVLQWKHDERYH'HFLVLRQKDGEHHQUHDFKHGLQFRQVXOWDWLRQEHIRUHWKHFDVHZDVDVVLJQHG
WRWKHZULWHURIWKHRSLQLRQRIWKH&RXUWV'LYLVLRQ
$1721,27&$53,2
$VVRFLDWH-XVWLFH
&KDLUSHUVRQ6HFRQG'LYLVLRQ
&(57,),&$7,21
3XUVXDQWWR6HFWLRQ$UWLFOH9,,,RIWKH&RQVWLWXWLRQDQGWKH'LYLVLRQ&KDLUSHUVRQV$WWHVWDWLRQ,FHUWLI\WKDWWKH
FRQFOXVLRQVLQWKHDERYH'HFLVLRQKDGEHHQUHDFKHGLQFRQVXOWDWLRQEHIRUHWKHFDVHZDVDVVLJQHGWRWKHZULWHURI
WKHRSLQLRQRIWKH&RXUWV'LYLVLRQ
5(1$72&&2521$
&KLHI-XVWLFH

)RRWQRWHV
'HVLJQDWHGDVDQDGGLWLRQDOPHPEHULQOLHXRI-XVWLFH5REHUWR$$EDGSHU6SHFLDO2UGHU1RGDWHG

2FWREHU
 5ROOR SS  3HQQHG E\ $VVRFLDWH -XVWLFH $UFDQJHOLWD 0 5RPLOOD/RQWRN ZLWK $VVRFLDWH -XVWLFHV

0DULDQR&'HO&DVWLOOR QRZDPHPEHURIWKLV&RXUW DQG5RPHR)%DU]DFRQFXUULQJ


6HH5ROORSVHHDOVR$QQH[$RISHWLWLRQUROORS
*51R6HSWHPEHU6&5$
$QQH[%RISHWLWLRQUROORS
5ROORSS
,GDW
6XSUDQRWHFLWLQJ0RGHTXLOORY%UHYD*51R0D\6&5$
&DUORVY6DQGRYDO*51R'HFHPEHU6&5$
$PRUHV Y +RXVH RI 5HSUHVHQWDWLYHV (OHFWRUDO 7ULEXQDO *5 1R  -XQH  FLWLQJ 7ZLQ$FH

+ROGLQJV&RUSRUDWLRQY5XILQDDQG&RPSDQ\*51R-XQH6&5$
 3DGXD Y 3HRSOH *5 1R  -XO\    6&5$   FLWLQJ 5 $JSDOR 6WDWXWRU\

&RQVWUXFWLRQ VWHG 
/DJXQD0HWWV&RUSRUDWLRQY&RXUWRI$SSHDOV*51R-XO\6&5$FLWLQJ

<XWLQJFRY&RXUWRI$SSHDOV3KLO  
,GFLWLQJ*RQ]DOHVY7RUUHV$01R07--XO\6&5$
3KLO  

$JXLODUY&RXUWRI$SSHDOV3KLO  
*51R$XJXVW6&5$FLWLQJ 6DOD]DUY&RXUWRI$SSHDOV3KLO

  FLWLQJ/DEDGY8QLYHUVLW\RI6RXWKHDVWHUQ3KLOLSSLQHV3KLO  


$OPHORUY5HJLRQDO7ULDO&RXUWRI/DV3LQDV&LW\%U*51R$XJXVW6&5$

FLWLQJ3KLOLSSLQH&RQVWLWXWLRQ$UW,,6HFZKLFKSURYLGHV
6HF7KH6WDWHUHFRJQL]HVWKHVDQFWLW\RIIDPLO\OLIHDQGVKDOOSURWHFWDQGVWUHQJWKHQWKHIDPLO\DVD
EDVLFDXWRQRPRXVVRFLDOLQVWLWXWLRQ[[[
$UW;96HFVZKLFKSURYLGHV
6HF7KH6WDWHUHFRJQL]HVWKH)LOLSLQRIDPLO\DVWKHIRXQGDWLRQRIWKHQDWLRQ
$FFRUGLQJO\LWVKDOOVWUHQJWKHQLWVVROLGDULW\DQGDFWLYHO\SURPRWHLWVWRWDOGHYHORSPHQW
6HF  0DUULDJH DV DQ LQYLRODEOH VRFLDO LQVWLWXWLRQ LV WKH IRXQGDWLRQ RI WKH IDPLO\ DQG VKDOO EH
SURWHFWHGE\WKH6WDWH
$]FXHWDY5HSXEOLF*51R0D\6&5$FLWLQJ$QFKHWDY$QFKHWD*5

1R0DUFK6&5$7XDVRQY&RXUWRI$SSHDOV3KLO  
7KH/DZSKLO3URMHFW$UHOODQR/DZ)RXQGDWLRQ

Vous aimerez peut-être aussi