US Commodity Futures Trading Commission v. OTC Investments LLC et al

Filing 45

ORDER granting 44 Motion to Stay Discovery for Ninety Days. The Commission shall be allowed to issue third party subpoenas to financial institutions. The Court shall enter a Pretrial Order and Case Management Plan upon the expiration of the limited stay of discovery. Signed by District Judge Martin Reidinger on 2/4/2016. (Pro se litigant served by US Mail.) (tmg)

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,
ORDER
vs.
OTC
INVESTMENTS
LLC,
FOREX CURRENCY TRADE
ADVISORS, LLC AND BARRY C.
TAYLOR,
Defendants.

THIS MATTER is before the Court on the parties’ Joint Motion to
Extend the Current Stay of Discovery for an Additional Ninety Days [Doc.
44].
The

Plaintiff

U.S.

Commodity

Futures

Trading

Commission

(“Commission”) and Defendant Barry C. Taylor (“Taylor”), proceeding pro se,
jointly request an additional extension of the limited stay of discovery
proceedings in this case, in light of the guilty plea recently entered by
Defendant Taylor in a parallel criminal case now pending before this Court
[Criminal Case No. 1:16-cr-00002-MR-DLH-1]. The Commission suggests,

and Defendant Taylor agrees, that the most efficient way to proceed at this
juncture would be for the Court to grant an additional limited stay of discovery
to allow the parties to focus their efforts on exploring whether a negotiated
resolution of the underlying case can be reached on terms agreed to by
Defendant Taylor, and on terms that the Division of Enforcement would
favorably recommend to the Commission for approval.
For the reasons stated in the parties’ motion, and for good cause
shown, the Court will allow an additional extension of the limited stay of
discovery.
IT IS, THEREFORE, ORDERED that the parties’ Joint Motion to
Extend the Current Stay of Discovery for Ninety Days [Doc. 44] is
GRANTED, and discovery in this matter shall be stayed for an additional
period of 90 days from the entry of this Order. The Commission shall be
allowed to issue third party subpoenas to financial institutions during this 90day period.
IT IS FURTHER ORDERED that the Court shall enter a Pretrial Order
and Case Management Plan upon the expiration of the limited stay of
discovery.

Signed: February 4, 2016

IT IS SO ORDERED.

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