US Commodity Futures Trading Commission v. OTC Investments LLC et al
Filing
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ORDER granting 17 Motion for Preliminary Injunction as to OTC Investments LLC and Forex Currency Trading Advisors, LLC. Pending the entry of a formal preliminary injunction order, the preliminary injunction shall impose th e same terms as the Statutory Restraining Order as previously entered. 11 Statutory Restraining Order entered by the Court is CONTINUED IN EFFECT as to the Defendant Barry C. Taylor until 5/29/15. Hearing on the Plaintiff's Motion for Preliminary Injunction and return of Statutory Restraining Order as to the Defendant Barry C. Taylor is hereby CONTINUED to 05/29/15 at 9:30 a.m. Signed by District Judge Martin Reidinger on 05/15/15. (Pro se litigant served by US Mail.)(emw)
IN THE UNITED STATES DISTRICT COURT
FOR THE WESTERN DISTRICT OF NORTH CAROLINA
ASHEVILLE DIVISION
CIVIL CASE NO. 1:15-cv-00081-MR-DLH
U.S. COMMODITY FUTURES
TRADING COMMISSION,
))
))
Plaintiff,
vs.
ORDER
OTC
INVESTMENTS
LLC,
FOREX
CURRENCY TRADING ADVISORS, LLC,
and BARRY C. TAYLOR,
Defendants.
__________________________________
THIS MATTER came before the Court on May 15, 2015 for the return of
the Statutory Restraining Order and for a hearing on the Plaintiff’s Motion for
Preliminary Injunction [Doc. 17]. Present for the hearing were JonMarc Buffa
and Peter Haas, counsel for the Plaintiff, and Rodney Kight, bankruptcy
counsel for the Defendant Barry C. Taylor. Defendant Taylor did not appear
at the hearing. Defendants OTC Investments LLC and Forex Currency
Trading Advisors LLC did not appeal personally or through counsel, despite
having been served with process and notice of the hearing.
Upon review of the record and the argument of counsel, the Court
enters the following Order.
IT IS, THEREFORE, ORDERED that:
(1)
The Statutory Restraining Order entered by the Court [Doc. 11]
is CONTINUED IN EFFECT as to the Defendant Barry C. Taylor
and shall expire at 11:59 p.m. on Friday, May 29, 2015, unless
before that time the Court, for good cause, extends it for a like
period;
(2)
This matter is scheduled for a return of the Statutory Restraining
Order as to the Defendant Barry C. Taylor on May 29, 2015 at
9:30 a.m.;
(3)
The hearing on the Plaintiff’s Motion for Preliminary Injunction as
to the Defendant Barry C. Taylor is hereby CONTINUED to May
29, 2015 at 9:30 a.m.;
(4)
The Plaintiff shall provide notice to the Bankruptcy Trustee of the
May 29, 2015 hearing;
(5)
The parties may submit briefing regarding the scope of the § 362
automatic stay on or before May 22, 2015. Such briefing shall
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not exceed ten (10) pages and shall be double-spaced and in 14
point font; and
(6)
The Plaintiff’s Motion for Preliminary Injunction [Doc. 17] as to
OTC Investments LLC and Forex Currency Trading Advisors,
LLC is GRANTED. Pending the entry of a formal preliminary
injunction order, the preliminary injunction shall impose the same
terms as the Statutory Restraining Order as previously entered.
IT IS SO ORDERED.
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