Securities and Exchange Commission v. Abatement Corp. Holding Company Limited et al
Filing
32
ORDER granting 31 Motion for Default Judgment and FINAL JUDGMENT against Defendant Abatement Corp. Holding Company Limited and Relief Defendant International Balanced Fund. Signed by Judge Federico A. Moreno on 10/29/2014. (mmd)
UNI
TED STATES DI
STRI COURT
CT
SO U TH ER N D I
STR I O F FL O R I A
CT
D
CASE NO . 14- v: c 23336- O % NO/ '
M
O SULLI
VAN
SECURI ES AND EXCH ANGE COM M I ON ,
TI
SSI
Pl nt f ,
ai i f
ABATEM ENT CORP.H OLDI COM PANY LI I
NG
M TED,
Def ndant and
e
,
BR EN D A M . A VI
D
S
I
NTERNATI NAL BALANCED FUND,
O
R elefD efendant
i
s.
O R D ER A N D FI A L JU DG M EN T A G A I ST D EFEN DA NT
N
N
ABATEM ENT CO RP. OLDI COM PANY LI I
H
NG
M TED AND
R ELI D EFEN DA N T I TER NA TI N A L BA LAN C ED FU ND
EF
N
O
THI M ATTER i bef e t Cour on Pl i ifSec ii a Exc nge Comm ison'
S
s or he
t
antf
urtes nd
ha
si s
M o i f rEnty ofFi J
ton o
r
nal udgm e f De a a or Relefand Digor m en agans De e nt
nt or clr t y i
s ge t i t f nda
Abae ntCor Hol ngCompa Li td(t tme )a f Dig ge tagans Relef
tme
p. di
ny mie l e nf' nd or s or men i t i
Aba
Dee dn Itmainl aa cdF n (I ' ( 31 .
fn atne t a B ln e u d 'BF' DE
o
ç )
Ha ng c i r t m oton a t en ie r cor t Cour e e st f l ng or
vi onsde ed he i nd he tr e d, he
t nt r he olowi
der
gr ntng t m o i a e e i Fi J m e a i tAba e e a I F asf l s
a i he ton nd nt r ng nal udg nt ga ns
t m nt nd B
olow :
FI DI G S O F FA CT A N D CO N C LU SI N S O F LAW
N N
O
Ths Co r h spes na j rs ito o e Ab tme t a d l a d te s be t
i u t a ro l u id ci n v r ae n n BF n h u jc
m a t roft sac i
te
hi ton. Venue i pr r i t Sout r D it i tofFl r da.
s ope n he
he n s r c
oi
A ba em e a I wer pr l s r ed w ih a s m ons a a c
t nt nd BF
e opery e v
t
um
nd
opy of t
he
Co pli pur ua t Rul 4 oft Fe r Rul s ofCi lPr e e. Thus bot de e
m ant s nt o
e
he de al e
vi oc dur
, h f ndan s
t
ha p ope notc oft s a ton. As oft dae oft s Or ,howeve ,Abae e a l
ve r r i e hi c i
he t
hi der
r
t m nt nd BF
ha f ie t a we orot r s r pond t t Compli a r quie by t Fede a Rul sof
ve al d o ns r
he wie es
o he
ant s e r d
he
rl e
Ci lPr edu e.
vi oc r
4.
The Clr e t r d a d a ta i tAba e e and 1 on Oc obe 1 , 201 (
ek nee
ef ul gans
t m nt
BF
t r 6
4. DE
5.
By vit oft def ul a f l e t r pond t t Compli t Aba e ta
rue he a t nd aiur o es
o he
a n , t men nd
261
.
1 a e de m e t ha a it d t a lga i of t Compl i , a t Com mison has
BF r e d o ve dm te he le tons
he
ant nd he
si
e t bls la lt a i t Abaeme a is e il men t r i a i t bo h de e n s.
sa ihed i biiy gans
t nt nd t ntte t o elef ga ns t f nda t
Buc
hananv Bo
. wman,820F. 359,361( 1hCi.1 .Thus t Cour de aes deer ne
2d
1 t r 987)
,he
t clr , t mi s
a d fn sAb tme tvilt d Se to 1 ()o te Se u iisAc o 1 33 1 U. C.j7 q a ;
n i d ae n o ae ci n 7 a f h c rte t f 9 , 5 S.
7 ()
a d Se to 1 ( )a d Rue 1 b- oft e S c rte Exc a g Ac of1 3 ,1 U.. j78( )
n cin 0 b n l 0 5 h e u iis h n e t 9 4 5 SC. jb ,
a 1 C. R.j2 1 bnd 7 F.
40.0 5.
A ccor ngl i i
di y, t s:
ORDERED AND ADJUDGED t tPl ntf sM oton f Enty ofFi lJ
ha ai if
i or r
na udgm e f
nt or
De a a or Re if and Digor men agans Def nda Aba e e Cor Hol ng Compa
clr t y le
s ge t i t e nt
t m nt p. di
ny
Li ie and f Di gor m e a i t Re i f D e e nt I e na i
m td
or s ge nt ga ns
le
f nda
nt r tonal Ba a d Fund i
l nce
s
GR ANTED. Fi lJ
na udgm e i e e e agans Aba e e a 1 a f l :
nt s nt r d i t t m nt nd BF s olows
1.
DI
SGORGEM ENT AND PREJUDGM ENT I
NTEREST
A GA IN ST A BA TEM EN T
I I FURTHER ORDERED AND ADJUDGED t t Aba e
T S
ha
t ment i la e f
s i bl or
digor m e ti t prncpala ounto $3, 321. r pr s ntngpr isgane asa r s tof
s ge n n he i i m
f 724, 46, e e e i
oft i d
e ul
s d o n or oge he
t
t c
he onduc alge i t Compli ( 1 l s am ount pai t i vest s,t t r w ih
t le d n he
ant DE j es
41 69.
t nt hal aif hi
prj
eudgmen i ees t ron, i t a
t ntr t hee n he mount of $37, 4. Abaeme s l s tsy t s
oblga i by payi t t t a
i ton
ng he o al mountof$3, , 15 t t Comm ison wihi 1 daysa tr
761736. o he
si
tn 4
fe
e t y oft s Fi lJ
nr
hi na udgm e .
nt
Aba e entm a tans i pa e e edr c l t t Com m i s on, whih wilpr vi
tm
y r m t ym nt l oni aly o he
si
c
l o de
deaied ACH ta f rFedwie i tu i upon r s. Pa e alo m a be m a die ty
tl
r nse /
r nsr ctons
eque t
ym nt s
y
de r c l
fom
r
ba
nk
a coun
c
t
vi
a
Pa g
y.ov
t oug
hr h
t
he
SEC
webst
ie
a
t
ht /w w.ec. a uto fc s o m . m . Aba e e alo m a pa by c tte c c , bnnk
tp:/
s uov/bo / f e / f ht
t m nt s
y y
erii d he k
ca hi r s c c or Unied St t pos a m one or r pa bl t t Se ur te a Exc nge
s e ' he k,
t
a es t l
y de ya e o he c ii s nd
ha
Commi son, c s lbe dei r d orm a ld t
s i whih hal
lve e
ie o
Entr ie Se viesCe e
e prs r c
ntr
Acc t Re ei bl Br nc
oun s c va e a h
65 Sou h M a A rhurB o e r
00
t
c t
ul va d
O kl hom a Ciy,OK 731
a
t
69
a s l bea compa e byalte ()i ntf ngt c ette,cvi a ton numbe ,a na
nd hal c
nid
etr i de iyi he as il i l ci
r nd me
o t sCo r;(i ie tf ig Ab tme ta a d fnd n i t i a to ;a d (i s cf ig t t
f hi u t i d n iyn ae n s ee a t n hs ci n n ii pe iyn ha
)
)
pa e t i m a pur uan t t s Fi l J
ym n s de s t o hi na udgm e . Aba e e s l sm ula usy ta m i
nt
tm nt ha l i t neo l r ns t
pho oc es of e de
t opi
vi nce of pa e a ca e i ntf ng i or a i t t Com m i s o s
ym nt nd s de iyi nf m ton o he
s i n'
c
ouns li t sa ton:
e n hi c i
A ndr w 0 .Sc f ,Es
e
hi f q.
Pa rc R . t l Es
t i k Cos elo, q.
Se urtes& Exc nge Com m i s on
c ii
ha
si
801 Br c lA ve
i kel
nue,Suie 1
t 800
M i m i FL 331
n ,
31
s hfà s cc v
c if@ e .o
c selp e .o
o t l @s ea v
o
By m a ng t s pa e ,Aba e e r i s a1l aland e t bl rgh ,tte a
ki hi ym nt
t m nt elnquihes l eg
quia e i t il , nd
i e e ti s h f
ntr s n uc undsa no pa toft f
nd
r he undss l ber t ned t i.The Co m iso s l hol
ha l eur
ot
m s i n hal d
t f
he unds (ole tvey,t iAbae nt Fund' a ma pr e a pln t diti e t
c lci l he d tme
' nd y opos
)
a o srbut he
Ab tme tFu d s b e tt t e Co r' a p o a. Th Co r s alrti j rs ito o e t
ae n n u j c o h u ts p r v l e u t h l ean u id cin v r he
a i sr ton of a di ti i of t A ba e entFund. I t Com m i s on s a f de er i
dm ni ta i
ny s rbuton
he
tm
f he
s i t f t m nes
t t t A ba e e Fund w il not be di t i ed, t Com m i s o s l s nd t f nds pa d
ha he
t m nt
l
sr but he
s i n ha l e he u
i
pur ua t t s Fi lJ
s nt o hi na udgm e t t Unied St t Tr as y.
nt o he t
a es e ur
Th Co sin ma e fr e t s F n lJ d me tfr ds o g me ta d p eu g n
e mmiso y n o c hi i a u g n o ig r e n n rj d me t
i ee tbymovi f ci lc e (ndortlough ot rcole ton pr dursa horz by
ntrs
ng or vi ontmpt a / lr
he lci oce e ut ied
lw)a a tmeatr1 daysf lwi e r oft sFi J
a t ny i fe 4
olo ng nty hi nal udgme A bat m ents l pay pos
nt
e
ha l
t
.
j d me t nee t na yd ln u n n u t p ru n t 28U. C.j1 .
u g n itr s o n eiq e t mo n s u s a t o
S
961
.
l.
l
DI
SGORGEM ENT AND PREJUDGM ENT I
NTEREST
AGAI
NST I
BF
I I FURTH ER ORDERED AND ADJUDGED t t1 i la ef di go g nti
T S
ha BF s ibl or s r eme n
t prnci l n
he i pa mount of $1 1 535. r pr e i pr is ga ne as a r ul of t c
, 26, 40, e es ntng oft i d
es t he onduc
t
alge i t Co an g 1 ls a u t pad t iv so s t g t e wih prj d me t
le d n he mpli t DE 1 e s mo n s i o n e t r, o eh r t eu g n
i e e tt e i t amountof$1131 22. I s l s tsy t soblga i by pa ng t t al
nt r s her on n he
, 7. BF ha l ai f hi i ton
yi he ot
a
mountof$1 1 852. t t Comm ison wihi 1 da a tre r oft sFi lJ
, 37, 62 o he
si
t n 4 ys fe nty hi na udgm e .
nt
I m a ta mi payme elc r cal t t Comm ison, whi h wilpr de deaied
BF y r ns t
nt e toni ly o he
si
c l ovi
tl
ACH ta f rFedwie i tu tons u
r nse /
r nsr c i
pon r ques . Pa e alo m a be m a die ty fom a
e t
ym nt s
y
de r c l r
ba a co vi Pa .gov t ough t SEC webst athtp: nk c unt a y
hr
he
ie
t /
/
s c. aboutof esof . m .
e gov/
/ ûc / m ht
.
1 a s may pay by c ri d c c , ba ca hi rs c c orUnied St t sposalmoney or r
BF lo
e tfe he k nk s e ' he k,
t
ae
t
de
pa bl t t Sec iisa Exc ngeComm iso , whih s l bedei r d o ma ld t
ya e o he urte nd
ha
s in
c ha l
lve e r ie o
Entr ie Se viesCe e
e prs r c
nt r
A c ount Re i bl Br nc
c
s ce va e a h
6500 Sout M a ArhurBoulva d
h c t
e r
Okl hom a C iy,O K 731
a
t
69
a s l beac ompanid by alte ()i ntf ngt ca ette,ci laci numbe , and nam e
nd hal
c
e
etr i de iyi he s il vi ton
r
oft sCour;(i i tf ngI a adee nti t sa in;a (i)s ciyi t tpa nt
hi
t i) deniyi BF s fnda n hi cto nd ii pe f ng ha yme
i m a pur ua t t s Fi J
s de s nt o hi nal udgm e . 1 s l s m ula ous y t a m i pho oc e of
nt BF ha l i t ne l r ns t
t opi s
evi nc of pay e a c e i ntf ng i or a i n t t Com m i s on' c
de e
m nt nd as de iyi nf m to o he
s i s ouns l i t s
e n hi
acton:
i
-
4-
A ndr w 0 .Sc f ,Es
e
hif q.
Pa r c R.Cos elo,Es
tik
t l
q.
Se urtes& Exc
c ii
hange Com m i s on
si
801 Br c lA ve
i kel
nue,Suie 1
t 800
M i m i FL 331
a ,
31
shif@ s cc v
c fa e .o
c selp e .o
otlo @scc v
By m a ng t s paym e ,I r lnqui he a ll ga a equia e r ght tte,and i e e t
ki hi
nt BF e i s s 1 e l nd
t bl i , il
nt r s
i s hf
n uc unds a no pa toft f
nd
r
he unds s lbe r t ne t i. The Co mi son s l hol t
hal
e ur d o t
m s i hal d he
fn s(olci ey,h (BF F n ' a dma p o os apln t d srb t te I Ft s b e t
u d c l tv l te t u d' n y r p e a o itiu e h BF md u j c
e
I
)
t t e Co r' a p o l Th Co r s alr ti j rs ito o e t e a mi srto o a
o h u ts p r va. e u t h l ean u idcin v r h d nitain f ny
d srbu i n oft l Fund. l t Commi so sa fde e m i t tt l Fund wilnotbe
iti to
he BF
f he
s i n t f t r nes ha he BF
l
di t i ed,t Com m i son s l s nd t f
sr but he
s i ha l e he unds pai pur ua t t s Fi J
d
s nt o hi nal udgm e t t
nt o he
U nied St t Tr as y.
t
a es e ur
Th Co sin ma e f re t i Fia J d me tf rd s o g me ta prj dg n
e mmiso
y n o c h s n l u g n o ig r e n nd eu me t
itrs bymovi f ci lc e (ndort ough ot rcoleci pr dursa horz by
nee t
ng or vi ontmpt a / hr
he l ton oce e ut ied
lw) a a y tme a tr 1 d y f lo n e ty o ti Fia J d me t I s alp y p s
a t n i fe 4 a s ol wig n r f h s n l u g n . BF h l a o t
j d me titrs o a y d ln u n a u t p ru n t 2 U. C. 1 61
u g n ne et n n ei q e t mo n s u s a t o 8 S. j 9 .
11
1.
R ETEN TI N O F JU R I I O N
O
SD CTI
I I FU RT H ER O RD ER ED AN D A DJUD G ED t t t s Cour s l r t n
T S
ha hi
t ha l e ai
j rs ito o e t smatra do e Ab tme t ndl i o d rt i lme ta dc ry o th
u idcin v r hi te n v r ae n a BF n r e o mp e n n a r u te
t r sofa 1or r a de r st tm a be e e e a / t e e t n any s t bl a ia i or
em
1 de s nd c ee ha y
ntr d nd or o nt rai
uia e pplc ton
moin f ra dto a r le wi n tej rs ito o t i Co r, n wi o d rohe r l ft a
to o d iin l eif t h u idcin f hs u ta d l r e t r ei h t
hi
l
e
t s Co tde m sa opr a e unde t c r um s a e .
hi ur e
ppr i t
r he i c t nc s
lV .
RULE 54( CERTI CATI
b)
FI
ON
Th r b ig n j t e s nf rdea , u s n t Rul 5 b)o t eF d rlRu e o Ci l
ee en o us r a o o ly p rua t o e 4( f h e ea ls f vi
Pr dur t Clr i or e t e t rt sFi lJ m e f rhwih a wihou f t rnotc
oce e,he e k s der d o n e hi na udg nt o t t nd t t urhe i e.
DONE AND ORDERED i Cha r
n
mbe s
Mi i F ra ts idy
a , li, h r a
m od i
2014.
FED ERI
NO
UN I
TED SRW TES DI
STRI J
CT UDGE
Copi st
e o:
And e 0.Schif Es
rw
f , q.
Pa r c R.Cos e l Es
tik
t lo, q.
U. Se urtesa Exc nge Comm ison
S. c ii nd
ha
si
801Brc l Aven Suie 1
i ke l
ue, t 800
M i mi Fl i 331
a , orda 31
(ouns lf Pl ntf ( aCM /
c e or ai ig vi
ECF)
Leonar H .Bl ,Es
d
oom
q.
Al
exandr M or Es
a
a, q.
A ker an LLP
m
One Sout tThid Avenue,Suie 2500
heas r
t
M i i FL 331
am ,
31-1714
(ouns lf Rei DeendantBr ndaM . vi)( aCM /
c e or lef f
e
Da s vi
ECF)
Abat entCor H ol ng Com pany Li ied
em
p. di
mt
Fis Ege i Co pa Li ied
r t ra m ny m t
Suie 202
t
Tai Pl
no ace
Gr Tur
and k
Tur and Cai l ands
ks
cos sl
TK CA I
ZZ
( s)( aFis- a sM ai I er i )
Pro e vi rtcls
l nt natonal
l er i Bal
nt natonal anced Fund
c/ The Company Cor ton
o
pora i
Re itrdAj n
gsee et
2711Cent le Rd. Suie 400
ervll
, t
W im i on,D E 1
l ngt
9808
( os)( aFis- as M al
Pr e vi r tcl s i)
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