Securities and Exchange Commission v. Abatement Corp. Holding Company Limited et al, No. 1:2014cv23336 - Document 32 (S.D. Fla. 2014)
Court Description: 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)
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Securities and Exchange Commission v. Abatement Corp. Holding Company Limited et al Doc. 32 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 Dockets.Justia.com 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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