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 :90?88'0:800#;0:2198:x'9 BG [EO _GB[OK Y[J[OY AJGFQ_P[IR IC_Q[ HCQ [EO KBY[QBI[ CH KOLJTJQO Bg qo> > Iejp{oq :: > GOT IOG[_QR [QY ECLKBGDY, > Ijyo Gc' 04-:0;:8 %FNI" BGI', j Koljtjqo icqpcqj{bcg, o{ jl', : > > Ncbg{lr Jkmbgby{oqok Koa{cqy' > GC[BIO CH Y_AMBYYBCG CH [EO GOT IOG[_QR LBZ_BKJ[BGD [Q_Y[Y PQCPCYOK HBGKBGDY CH HJI[ JGK ICGIL_YBCGY CH LJT Cg Ci{caoq 10, 10:0, {eo _gb{ok Y{j{oy Ajgfqup{ir Icuq{ hcq {eo Kby{qbi{ ch Koljtjqo %{eo “Icuq{”" icgkui{ok j {qbjl cg {eo moqb{y ch {eo pqcch ch iljbm hblok ar P boqqo Juduy{bg jdjbgy{ Got Iog{uqr Mcq{djdo Icqpcqj{bcg %{eo “[qbjl”"' J{ {eo icgiluybcg ch {eo [qbjl, {eo Icuq{ kbqoi{ok {eo Got Iog{uqr Lbzubkj{bgd [quy{ %{eo “[quy{”" {c hblo b{y pqcpcyok hbgkbgdy ch hji{ jgk icgiluybcgy ch ljt tb{e {eo Icuq{ puqyujg{ {c j icgyogyujl yieokulbgd cqkoq' : [eo pqo-po{b{bcg Koa{cqy toqo {eo hcllctbgd og{b{boy> Got Iog{uqr Hbgjgibjl Icqpcqj{bcg %h#f#j Got Iog{uqr QOB[, Bgi'", j Mjqrljgk icqpcqj{bcg6 Got Iog{uqr [QY Eclkbgdy, Bgi' %h#f#j Got Iog{uqr Hbgjgibjl Icqpcqj{bcg", j Koljtjqo icqpcqj{bcg6 Got Iog{uqr Mcq{djdo Icqpcqj{bcg %h#f#j NAO Mcq{djdo" %k#a#j GIMI Mcq{djdo Icqpcqj{o, Got Iog{uqr Icqpcqj{bcg, Got Iog{uqr Mcq{djdo Xog{uqoy, LLI", j Ijlbhcqgbj icqpcqj{bcg6 GI Ijpb{jl Icqpcqj{bcg, j Ijlbhcqgbj icqpcqj{bcg6 Ecmo:19 Icqpcqj{bcg %h#f#j [eo Jgrlcjg Icqpcqj{bcg, :500jgrlcjg'icm, Jgrlcjg'icm", j Ijlbhcqgbj icqpcqj{bcg6 Got Iog{uqr Iqokb{ Icqpcqj{bcg %h#f#j Tcq{e Hugkbgd Bgicqpcqj{ok", j Ijlbhcqgbj icqpcqj{bcg6 GI Jyyo{ Eclkbgd, L'P' %h#f#j GI Qoybkujl BB Icqpcqj{bcg", j Koljtjqo lbmb{ok pjq{goqyebp6 GI Qoybkujl BBB Icqpcqj{bcg, j Koljtjqo icqpcqj{bcg6 GI Qoybkujl BX Icqpcqj{bcg, j Koljtjqo icqpcqj{bcg6 Got Iog{uqr Q'O'C' Icqpcqj{bcg, j Ijlbhcqgbj icqpcqj{bcg6 Got Iog{uqr Q'O'C' BB Icqpcqj{bcg, j Ijlbhcqgbj icqpcqj{bcg6 Got Iog{uqr Q'O'C' BBB Icqpcqj{bcg, j Ijlbhcqgbj icqpcqj{bcg6 Got Iog{uqr Mcq{djdo Xog{uqoy, LLI %k#a#j Yummb{ Qoycq{ Logkbgd, [c{jl Mcq{djdo Qoycuqio, Yoloi{ Mcq{djdo Dqcup, Mcg{biollc Mcq{djdo Yoqxbioy, Jk Jy{qj Mcq{djdo, Mbktoy{ Ecmo Mcq{djdo, [QJ[Y Hbgjgibjl Yoqxbioy, Olb{o Hbgjgibjl Yoqxbioy, Auroqy Jkxjg{jdo Mcq{djdo", j Koljtjqo lbmb{ok lbjablb{r icmpjgr6 GI Kol{o, LLI, j Koljtjqo lbmb{ok lbjablb{r icmpjgr6 GIcqjl, L'P', j Koljtjqo lbmb{ok pjq{goqyebp'
26

Pierre Augustin v New Century TRS Holdings Inc Findings of Facts and Conclusions (proposed by New Century)

Apr 09, 2018

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Page 1: Pierre Augustin v New Century TRS Holdings Inc Findings of Facts and Conclusions (proposed by New Century)

8/8/2019 Pierre Augustin v New Century TRS Holdings Inc Findings of Facts and Conclusions (proposed by New Century)

http://slidepdf.com/reader/full/pierre-augustin-v-new-century-trs-holdings-inc-findings-of-facts-and-conclusions 1/26

 

:90?88'0:800#;0:2198:x'9 

BG [EO _GB[OK Y[J[OY AJGFQ_P[IR IC_Q[HCQ [EO KBY[QBI[ CH KOLJTJQO

Bg qo> > Iejp{oq ::

>GOT IOG[_QR [QY ECLKBGDY, > Ijyo Gc' 04-:0;:8 %FNI"BGI', j Koljtjqo icqpcqj{bcg, o{ jl', : >

> Ncbg{lr Jkmbgby{oqokKoa{cqy' >

GC[BIO CH Y_AMBYYBCG CH [EO GOT IOG[_QR LBZ_BKJ[BGD [Q_Y[‒Y

PQCPCYOK HBGKBGDY CH HJI[ JGK ICGIL_YBCGY CH LJT

Cg Ci{caoq 10, 10:0, {eo _gb{ok Y{j{oy Ajgfqup{ir Icuq{ hcq {eo Kby{qbi{ ch Koljtjqo

%{eo “Icuq{”" icgkui{ok j {qbjl cg {eo moqb{y ch {eo pqcch ch iljbm hblok ar Pboqqo Juduy{bg

jdjbgy{ Got Iog{uqr Mcq{djdo Icqpcqj{bcg %{eo “[qbjl”"' J{ {eo icgiluybcg ch {eo [qbjl, {eo

Icuq{ kbqoi{ok {eo Got Iog{uqr Lbzubkj{bgd [quy{ %{eo “[quy{”" {c hblo b{y pqcpcyok hbgkbgdy ch 

hji{ jgk icgiluybcgy ch ljt tb{e {eo Icuq{ puqyujg{ {c j icgyogyujl yieokulbgd cqkoq'

: [eo pqo-po{b{bcg Koa{cqy toqo {eo hcllctbgd og{b{boy> Got Iog{uqr Hbgjgibjl Icqpcqj{bcg %h#f#j Got Iog{uqrQOB[, Bgi'", j Mjqrljgk icqpcqj{bcg6 Got Iog{uqr [QY Eclkbgdy, Bgi' %h#f#j Got Iog{uqr Hbgjgibjl Icqpcqj{bcg", jKoljtjqo icqpcqj{bcg6 Got Iog{uqr Mcq{djdo Icqpcqj{bcg %h#f#j NAO Mcq{djdo" %k#a#j GIMI Mcq{djdoIcqpcqj{o, Got Iog{uqr Icqpcqj{bcg, Got Iog{uqr Mcq{djdo Xog{uqoy, LLI", j Ijlbhcqgbj icqpcqj{bcg6 GI Ijpb{jlIcqpcqj{bcg, j Ijlbhcqgbj icqpcqj{bcg6 Ecmo:19 Icqpcqj{bcg %h#f#j [eo Jgrlcjg Icqpcqj{bcg, :500jgrlcjg'icm,Jgrlcjg'icm", j Ijlbhcqgbj icqpcqj{bcg6 Got Iog{uqr Iqokb{ Icqpcqj{bcg %h#f#j Tcq{e Hugkbgd Bgicqpcqj{ok", jIjlbhcqgbj icqpcqj{bcg6 GI Jyyo{ Eclkbgd, L'P' %h#f#j GI Qoybkujl BB Icqpcqj{bcg", j Koljtjqo lbmb{ok pjq{goqyebp6GI Qoybkujl BBB Icqpcqj{bcg, j Koljtjqo icqpcqj{bcg6 GI Qoybkujl BX Icqpcqj{bcg, j Koljtjqo icqpcqj{bcg6 GotIog{uqr Q'O'C' Icqpcqj{bcg, j Ijlbhcqgbj icqpcqj{bcg6 Got Iog{uqr Q'O'C' BB Icqpcqj{bcg, j Ijlbhcqgbj icqpcqj{bcg6Got Iog{uqr Q'O'C' BBB Icqpcqj{bcg, j Ijlbhcqgbj icqpcqj{bcg6 Got Iog{uqr Mcq{djdo Xog{uqoy, LLI %k#a#jYummb{ Qoycq{ Logkbgd, [c{jl Mcq{djdo Qoycuqio, Yoloi{ Mcq{djdo Dqcup, Mcg{biollc Mcq{djdo Yoqxbioy, JkJy{qj Mcq{djdo, Mbktoy{ Ecmo Mcq{djdo, [QJ[Y Hbgjgibjl Yoqxbioy, Olb{o Hbgjgibjl Yoqxbioy, Auroqy Jkxjg{jdoMcq{djdo", j Koljtjqo lbmb{ok lbjablb{r icmpjgr6 GI Kol{o, LLI, j Koljtjqo lbmb{ok lbjablb{r icmpjgr6 GIcqjl,L'P', j Koljtjqo lbmb{ok pjq{goqyebp'

Page 2: Pierre Augustin v New Century TRS Holdings Inc Findings of Facts and Conclusions (proposed by New Century)

8/8/2019 Pierre Augustin v New Century TRS Holdings Inc Findings of Facts and Conclusions (proposed by New Century)

http://slidepdf.com/reader/full/pierre-augustin-v-new-century-trs-holdings-inc-findings-of-facts-and-conclusions 2/26

 

:90?88'0:800#;0:2198:x'9 

Icgyby{og{ tb{e {eo Icuq{‒y kbqoi{bcg, j{{jieok eoqo{c jy Oebab{ J by {eo [quy{‒y

pqcpcyok hbgkbgdy ch hji{ jgk icgiluybcgy ch ljt icgioqgbgd {eo [qbjl'

Kj{ok> Koiomaoq :4, 10:0 Qoypoi{hullr yuamb{{ok,

ALJGF QCMO LLP

 #y# Kjxbk T' Ijqbifechh 

Kjxbk T' Ijqbifechh %Gc' 94:?":10: Mjqfo{ Y{qoo{, Yub{o 500Tblmbgd{cg, Koljtjqo :250:

Ic-Icugyol {c Got Iog{uqr Lbzubkj{bgd [quy{ 

-jgk-

A_IFLOR YJGKLOQ, LLPIjb{lbg Fjymjq::1?0 1;{e Y{qoo{, G'T', Yub{o 400Tjyebgd{cg, KI 10094

Ypoibjl Qodulj{cqr Icugyol {c

 Got Iog{uqr Lbzubkj{bgd [quy{ 

Page 3: Pierre Augustin v New Century TRS Holdings Inc Findings of Facts and Conclusions (proposed by New Century)

8/8/2019 Pierre Augustin v New Century TRS Holdings Inc Findings of Facts and Conclusions (proposed by New Century)

http://slidepdf.com/reader/full/pierre-augustin-v-new-century-trs-holdings-inc-findings-of-facts-and-conclusions 3/26

 

:90?88'0:800#;0:2198:x'9 

Oebab{ J

Pqcpcyok Hbgkbgdy ch Hji{ jgk

Icgiluybcgy ch Ljt

Page 4: Pierre Augustin v New Century TRS Holdings Inc Findings of Facts and Conclusions (proposed by New Century)

8/8/2019 Pierre Augustin v New Century TRS Holdings Inc Findings of Facts and Conclusions (proposed by New Century)

http://slidepdf.com/reader/full/pierre-augustin-v-new-century-trs-holdings-inc-findings-of-facts-and-conclusions 4/26

 

:90?88'0:800#;0:2198:x'9 

BG [EO _GB[OK Y[J[OY AJGFQ_P[IR IC_Q[HCQ [EO KBY[QBI[ CH KOLJTJQO

Bg qo> > Iejp{oq ::

>GOT IOG[_QR [QY ECLKBGDY, > Ijyo Gc' 04-:0;:8 %FNI"BGI', j Koljtjqo icqpcqj{bcg, o{ jl', : >

> Ncbg{lr Jkmbgby{oqokKoa{cqy' >

VPQCPCYOK] HBGKBGDY CH HJI[ JGK ICGIL_YBCGY CH LJT

ICGIOQGBGD ILJBM CH PBOQQO J_D_Y[BG JDJBGY[

GOT IOG[_QR MCQ[DJDO ICQPCQJ[BCG

Cg Ci{caoq 10, 10:0, {eby Icuq{ icgkui{ok j {qbjl %{eo “[qbjl”" cg {eo moqb{y ch {eo pqcch 

ch iljbm, iljbm gumaoq 94?2 %{eo “Pqcch ch Iljbm”", hblok ar Pboqqo Q' Juduy{bg %“Mq'

Juduy{bg”" jdjbgy{ Got Iog{uqr Mcq{djdo Icqpcqj{bcg %“Got Iog{uqr”"' [eo hbgkbgdy ch hji{

jgk icgiluybcgy ch ljt yo{ hcq{e eoqobg icgy{b{u{o {eby Icuq{‒y hbgkbgdy ch hji{ jgk icgiluybcgy ch 

ljt puqyujg{ {c Hok' Q' Ibx' P' ?1, jy mjko jpplbijalo eoqobg ar Hok' Q' Ajgfq' P' 40?1 jgk

20:;' [c {eo o{og{ jgr ch {eo hcllctbgd hbgkbgdy ch hji{ icgy{b{u{o icgiluybcgy ch ljt, {eor jqo

jkcp{ok jy yuie' [c {eo o{og{ jgr ch {eo hcllctbgd icgiluybcgy ch ljt icgy{b{u{o hbgkbgdy ch 

hji{, {eor jqo jkcp{ok jy yuie'

: [eo pqo-po{b{bcg Koa{cqy toqo {eo hcllctbgd og{b{boy> Got Iog{uqr Hbgjgibjl Icqpcqj{bcg %h#f#j Got Iog{uqrQOB[, Bgi'", j Mjqrljgk icqpcqj{bcg6 Got Iog{uqr [QY Eclkbgdy, Bgi' %h#f#j Got Iog{uqr Hbgjgibjl Icqpcqj{bcg", jKoljtjqo icqpcqj{bcg6 Got Iog{uqr Mcq{djdo Icqpcqj{bcg %h#f#j NAO Mcq{djdo" %k#a#j GIMI Mcq{djdoIcqpcqj{o, Got Iog{uqr Icqpcqj{bcg, Got Iog{uqr Mcq{djdo Xog{uqoy, LLI", j Ijlbhcqgbj icqpcqj{bcg6 GI Ijpb{jlIcqpcqj{bcg, j Ijlbhcqgbj icqpcqj{bcg6 Ecmo:19 Icqpcqj{bcg %h#f#j [eo Jgrlcjg Icqpcqj{bcg, :500jgrlcjg'icm,Jgrlcjg'icm", j Ijlbhcqgbj icqpcqj{bcg6 Got Iog{uqr Iqokb{ Icqpcqj{bcg %h#f#j Tcq{e Hugkbgd Bgicqpcqj{ok", jIjlbhcqgbj icqpcqj{bcg6 GI Jyyo{ Eclkbgd, L'P' %h#f#j GI Qoybkujl BB Icqpcqj{bcg", j Koljtjqo lbmb{ok pjq{goqyebp6GI Qoybkujl BBB Icqpcqj{bcg, j Koljtjqo icqpcqj{bcg6 GI Qoybkujl BX Icqpcqj{bcg, j Koljtjqo icqpcqj{bcg6 GotIog{uqr Q'O'C' Icqpcqj{bcg, j Ijlbhcqgbj icqpcqj{bcg6 Got Iog{uqr Q'O'C' BB Icqpcqj{bcg, j Ijlbhcqgbj icqpcqj{bcg6Got Iog{uqr Q'O'C' BBB Icqpcqj{bcg, j Ijlbhcqgbj icqpcqj{bcg6 Got Iog{uqr Mcq{djdo Xog{uqoy, LLI %k#a#jYummb{ Qoycq{ Logkbgd, [c{jl Mcq{djdo Qoycuqio, Yoloi{ Mcq{djdo Dqcup, Mcg{biollc Mcq{djdo Yoqxbioy, JkJy{qj Mcq{djdo, Mbktoy{ Ecmo Mcq{djdo, [QJ[Y Hbgjgibjl Yoqxbioy, Olb{o Hbgjgibjl Yoqxbioy, Auroqy Jkxjg{jdoMcq{djdo", j Koljtjqo lbmb{ok lbjablb{r icmpjgr6 GI Kol{o, LLI, j Koljtjqo lbmb{ok lbjablb{r icmpjgr6 GIcqjl,L'P', j Koljtjqo lbmb{ok pjq{goqyebp'

Page 5: Pierre Augustin v New Century TRS Holdings Inc Findings of Facts and Conclusions (proposed by New Century)

8/8/2019 Pierre Augustin v New Century TRS Holdings Inc Findings of Facts and Conclusions (proposed by New Century)

http://slidepdf.com/reader/full/pierre-augustin-v-new-century-trs-holdings-inc-findings-of-facts-and-conclusions 5/26

 

1

:90?88'0:800#;0:2198:x'9 

[EBY IC_Q[ MJFOY [EO HCLLCTBGD HBGKBGDY CH HJI[>1 

DOGOQJL IJYO AJIFDQC_GK

:'  Cg Jpqbl 1, 1004 %{eo “Po{b{bcg Kj{o”", {eo jacxo-ijp{bcgok koa{cqy %iclloi{bxolr,

{eo “Koa{cqy”" %tb{e {eo oiop{bcg ch Got Iog{uqr Tjqoecuyo Icqpcqj{bcg" hblok xclug{jqr

po{b{bcgy hcq qolboh ugkoq iejp{oq :: ch {b{lo :: ch {eo _gb{ok Y{j{oy Icko %{eo “Ajgfqup{ir

Icko”" tb{e {eby Icuq{' _g{bl {eo Yoicgk Jmogkok Ncbg{ Iejp{oq :: Pljg ch {eo Koa{cqy jgk {eo

Chhbibjl Icmmb{{oo ch _gyoiuqok Iqokb{cqy Kj{ok jy ch Jpqbl 19, 1005 %{eo “Cqbdbgjl Pljg”"9 

aoijmo ohhoi{bxo cg Juduy{ :, 1005, {eo Koa{cqy icg{bguok bg {eo mjgjdomog{ jgk cpoqj{bcg ch 

{eobq auybgoyyoy puqyujg{ {c Ajgfqup{ir Icko yoi{bcgy ::04 jgk ::05'

1'  Cg Jpqbl 19, 1005, {eo Koa{cqy hblok {eo Cqbdbgjl Pljg VK'B' 8;:1]'; 

9'  Cg Nulr :?, 1005, {eo Icuq{ og{oqok {eo cqkoq icghbqmbgd {eo Cqbdbgjl Pljg VK'B'

5?28] %{eo “Cqbdbgjl Icghbqmj{bcg Cqkoq”"' [eo cqkoq jmogkbgd {eo Cqbdbgjl Icghbqmj{bcg

Cqkoq tjy og{oqok cg Nulr 11, 1005'

;'  Cg Juduy{ :, 1005 %{eo “Cqbdbgjl Ohhoi{bxo Kj{o”", {eo Cqbdbgjl Pljg aoijmo

ohhoi{bxo' Puqyujg{ {c {eo {oqmy ch {eo Cqbdbgjl Pljg, cg {eo Cqbdbgjl Ohhoi{bxo Kj{o {eo Got

Iog{uqr Lbzubkj{bgd [quy{ Jdqoomog{ %{eo “[quy{ Jdqoomog{”" tjy ooiu{ok, {eoqoar iqoj{bgd {eo

[quy{ jgk jppcbg{bgd Jljg M' Njicay jy [quy{oo ch {eo [quy{' Cg {eo Cqbdbgjl Ohhoi{bxo Kj{o,

1 J{ {eo y{jq{ ch {eo [qbjl, {eo [quy{ jgk Mq' Juduy{bg jdqook {ej{ {eo hji{y yo{ hcq{e aolct bg pjqjdqjpey :-:2, 1:,19-1;, 9:, ;2, ?9-?2, 81-89 jgk 8?-88 jqo gc{ bg kbypu{o' Yoo [qjgyiqbp{ ch Ci{caoq 10, 10:0 [qbjl, ;8>:2 ’ ;5>1;%eoqojh{oq, “[q'”"'

9 Jll ijpb{jlb~ok {oqmy gc{ eoqobg kohbgok yejll ejxo {eo yjmo mojgbgd jyiqbaok {c {eom bg {eo Mckbhbok YoicgkJmogkok Ncbg{ Iejp{oq :: Pljg ch Lbzubkj{bcg ch {eo Koa{cqy jgk {eo Chhbibjl Icmmb{{oo ch _gyoiuqok Iqokb{cqyKj{ok jy ch Yop{omaoq 90, 1002 %{eo “Mckbhbok Pljg”"'

; Jll “K'B'” qohoqogioy jqo {c {eo Koa{cqy‒ iejp{oq :: kcifo{ bg {eby Icuq{, ncbg{lr jkmbgby{oqok ugkoq Ijyo Gc' 04-:0;:8'

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8/8/2019 Pierre Augustin v New Century TRS Holdings Inc Findings of Facts and Conclusions (proposed by New Century)

http://slidepdf.com/reader/full/pierre-augustin-v-new-century-trs-holdings-inc-findings-of-facts-and-conclusions 6/26

 

9

:90?88'0:800#;0:2198:x'9 

jmcgd c{eoq {ebgdy, jll Jyyo{y ch {eo Koa{cqy %oilukbgd Jiioyy Logkbgd Jyyo{y au{ bgilukbgd

Jiioyy Logkbgd Bg{oqoy{y" toqo kby{qbau{ok {c {eo [quy{ jgk jll ch {eo qomjbgbgd momaoqy ch {eo

Koa{cqy ‒ Acjqk ch Kbqoi{cqy jgk Chhbioqy iojyok {c yoqxo bg {ecyo ijpjib{boy ar cpoqj{bcg ch {eo

Cqbdbgjl Icghbqmj{bcg Cqkoq'

?'  Cg Juduy{ ;, 1005, {eo Gc{bio ch %B" Og{qr ch Cqkoq Icghbqmbgd Yoicgk Jmogkok 

 Ncbg{ Iejp{oq :: Pljg ch Lbzubkj{bcg ch {eo Koa{cqy jgk {eo Chhbibjl Icmmb{{oo ch _gyoiuqok 

Iqokb{cqy Kj{ok jy ch Jpqbl 19, 1005 %BB" Ohhoi{bxo Kj{o jgk %BBB" Ajq Kj{oy hcq Jkmbgby{qj{bxo

Iljbmy, Pqchoyybcgjl Hoo Iljbmy, Yuacqkbgj{bcg Y{j{omog{y, jgk Qonoi{bcg Kjmjdo Iljbmy VK'B'

540?] %{eo “Gc{bio ch Ohhoi{bxo Kj{o”" tjy hblok'

8'  Cg Nugo :8, 1002, {eo _gb{ok Y{j{oy Kby{qbi{ Icuq{ hcq {eo Kby{qbi{ ch Koljtjqo

%{eo “Kby{qbi{ Icuq{”" byyuok j Momcqjgkum Cpbgbcg jgk jg cqkoq qoxoqybgd {eo Cqbdbgjl

Icghbqmj{bcg Cqkoq %{cdo{eoq, {eo “Cqkoq Qoxoqybgd Icghbqmj{bcg”"'

4'  Cg Yop{omaoq 90, 1002, {eo [quy{oo hblok {eo Mckbhbok Pljg VK'B' 220?]'

5'  Cg Gcxomaoq 10, 1002, {eo Icuq{ og{oqok jg cqkoq icghbqmbgd {eo Mckbhbok Pljg

%{eo “Mckbhbok Icghbqmj{bcg Cqkoq”" VK'B' 22?4]'

2'  Cg Koiomaoq :, 1002 %{eo “Mckbhbok Ohhoi{bxo Kj{o”", {eo Mckbhbok Pljg aoijmo

ohhoi{bxo' Cg {eo Mckbhbok Ohhoi{bxo Kj{o, {eo Mckbhbok Pljg, bg{oq jlbj, %j" icghbqmok {ej{ jll

ji{bcgy {jfog ar {eo [quy{oo yuayozuog{ {c {eo Cqbdbgjl Ohhoi{bxo Kj{o toqo xjlbk jgk abgkbgd,

%a" jkcp{ok, qj{bhbok jgk icghbqmok {eo hcqmj{bcg ch {eo [quy{ jy ch {eo Cqbdbgjl Ohhoi{bxo Kj{o,

%i" jkcp{ok, qj{bhbok jgk icghbqmok {eo Lbzubkj{bgd [quy{ Jdqoomog{ jy ch {eo Cqbdbgjl Ohhoi{bxo

Kj{o, jgk %k" jkcp{ok, qj{bhbok jgk icghbqmok {eo jppcbg{mog{ ch Jljg M' Njicay jy [quy{oo jy ch 

{eo Cqbdbgjl Ohhoi{bxo Kj{o'

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8/8/2019 Pierre Augustin v New Century TRS Holdings Inc Findings of Facts and Conclusions (proposed by New Century)

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;

:90?88'0:800#;0:2198:x'9 

:0'  Puqyujg{ {c Yoi{bcg 9'9' ch {eo [quy{ Jdqoomog{ jgk {eo Mckbhbok Icghbqmj{bcg

Cqkoq, jy ch {eo Cqbdbgjl Ohhoi{bxo Kj{o, {eo [quy{ qoyoqxok {eo oiluybxo qbde{ {c canoi{ {c {eo

jllctjgio ch jgr iljbm, jgk {eo [quy{oo tjy dbxog {eo ju{ecqb{r jgk pctoq {c hblo canoi{bcgy

qodjqkbgd {eo jllctjgio jgk kbyjllctjgio ch iljbmy'

PQCIOK_QJL PCY[_QO

::'  Cg cq jacu{ Njgujqr 5, 1005, Mq' Juduy{bg hblok {tc pqcchy ch iljbm jdjbgy{ Got

Iog{uqr, iljbm gumaoqy 945: jgk 94?2, tebie toqo bkog{bijl' Ojie pqcch ch iljbm jyyoq{ok j

iljbm jmcug{ ch +400,18;'50 pluy pugb{bxo kjmjdoy bg jg ugfgctg jmcug{ cg {eo ajyby ch ibxbl

icgypbqjir ch mcq{djdo hqjuk'

:1'  Cg Hoaqujqr 11, 1005, {eo Koa{cqy hblok {eo Koa{cqy‒ Hbh{oog{e Cmgbauy

Canoi{bcg {c Iljbmy> Gcg-Yuay{jg{bxo Canoi{bcg Puqyujg{ {c :: _'Y'I' Yoi{bcgy ?01, ?09, ?08 

jgk ?04, Hok' Q' Ajgfq' P' 9004 jgk 20:;, jgk Kol' Ajgfq' L'Q' 9004-: {c Ioq{jbg %J" Jmogkok 

jgk Yupoqyokok Iljbmy6 %A" Kuplbij{o Iljbmy6 %I" Lj{o Hblok Iljbmy6 jgk %K" Gc Yuppcq{bgd

 Kciumog{j{bcg Iljbmy VK'B' ?01;] %{eo “Hbh{oog{e Cmgbauy Canoi{bcg”"' [eo Hbh{oog{e

Cmgbauy Canoi{bcg ycude{ {c opugdo, jmcgd c{eoq iljbmy, iljbmy {ej{ toqo kuplbij{bxo ch c{eoq

iljbmy hblok jdjbgy{ {eo Koa{cqy' Iljbm gumaoq 945: %{eo “Kuplbij{o Iljbm”" hblok ar Mq'

Juduy{bg tjy cgo ch {eo iljbmy {ej{ {eo Koa{cqy ycude{ {c opugdo bg {eo Hbh{oog{e Cmgbauy

Canoi{bcg'

:9'  Cg Mjqie 14, 1005, {eo Koa{cqy hblok {eo Koa{cqy‒ Obde{oog{e Cmgbauy

Canoi{bcg> Yuay{jg{bxo Canoi{bcg Puqyujg{ {c :: _'Y'I' Yoi{bcgy ?01, ?09, ?08 jgk ?04,

 Ajgfqup{ir Quloy 9004 jgk 20:;, jgk Lcijl Qulo 9004-: {c Ioq{jbg %J" Accfy jgk Qoicqky

Iljbmy6 %A" Bgyuhhbibog{ Kciumog{j{bcg Iljbmy6 %I" Mul{bplo-Koa{cq Kuplbij{o Iljbmy6 jgk %K"

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?

:90?88'0:800#;0:2198:x'9 

 Qokuiok jgk#cq Qoiljyybhbok Iljbmy VK'B' ??94] %{eo “Obde{oog{e Cmgbauy Canoi{bcg”"' [eo

Obde{oog{e Cmgbauy Canoi{bcg ycude{ {c opugdo, jmcgd c{eoq iljbmy, iljbmy {ej{ toqo gc{

qohloi{ok bg {eo Koa{cqy‒ accfy jgk qoicqky jgk {ej{ ejk bgyuhhbibog{ kciumog{j{bcg {c yuppcq{

{eom' [eo Pqcch ch Iljbm %iljbm gumaoq 94?2" hblok ar Mq' Juduy{bg tjy cgo ch {eo iljbmy {ej{

{eo Koa{cqy ycude{ {c opugdo bg {eo Obde{oog{e Cmgbauy Canoi{bcg'

:;'  Cgio {eo Cqbdbgjl Pljg aoijmo ohhoi{bxo, {eo [quy{ jyyumok pqcyoiu{bcg ch {eo

Koa{cqy‒ ugqoyclxok iljbm canoi{bcgy, bgilukbgd {eo Hbh{oog{e Cmgbauy Canoi{bcg jgk {eo

Obde{oog{e Cmgbauy Canoi{bcg'

:?'  Mq' Juduy{bg icgyog{ok {c {eo qolboh qozuoy{ok bg {eo Hbh{oog{e Cmgbauy

Canoi{bcg jy b{ qolj{oy {c {eo Kuplbij{o Iljbm %b'o', opugdbgd {eo Kuplbij{o Iljbm"'

:8'  Cg Njgujqr 1:, 1002, {eo Icuq{ eojqk jqdumog{ ch icugyol hcq {eo [quy{ jgk Mq'

Juduy{bg qodjqkbgd {eo pqbcqb{r ch {eo Pqcch ch Iljbm' [eo Icuq{ ko{oqmbgok {ej{ {eoqo tjy gc

lodjl ajyby hcq {eo jyyoq{ok pqbcqb{r ch {eo Pqcch ch Iljbm'

:4'  Cg Njgujqr 12, 1002, {eo Icuq{ og{oqok jg cqkoq opugdbgd {eo Kuplbij{o Iljbm,

qoiljyybhrbgd {eo Pqcch ch Iljbm jy j dogoqjl ugyoiuqok iljbm, jgk opqoyylr pqcxbkbgd {ej{

gc{ebgd bg {eo cqkoq by mojg{ {c pqoiluko jgr iljbm ch qoyibyybcg {ej{ Mq' Juduy{bg mjr ejxo

VK'B' 2919]' Mq' Juduy{bg ejy gc{ hblok jgr{ebgd {c jmogk {eo Pqcch ch Iljbm' [q' 59>:4-:5'

:5'  Jiicqkbgdlr, {eo Pqcch ch Iljbm %iljbm gc' 94?2", jyyoq{bgd j iljbm jmcug{ ch 

+400,18;'50 pluy pugb{bxo kjmjdoy bg jg ugfgctg jmcug{ cg {eo ajyby ch ibxbl icgypbqjir ch 

mcq{djdo hqjuk, tjy {eo hciuy ch {eo [qbjl'

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8

:90?88'0:800#;0:2198:x'9 

KBYICXOQR YIEOK_LO JGK KBYP_[OY

:2'  Cg Yop{omaoq ;, 1005, {eo Icuq{ byyuok j yieokulbgd cqkoq qodjqkbgd {eo moqb{y

ch {eo Pqcch ch Iljbm VK'B' 520?] %{eo “Yieokulbgd Cqkoq”"' Hji{ kbyicxoqr tjy yieokulok {c

ilcyo cg Koiomaoq :2, 1005'

10'  Mq' Juduy{bg ejy iecyog {c qopqoyog{ ebmyolh bg {eby mj{{oq' Kuo {c xjqbcuy

kbyicxoqr kbypu{oy {ej{ toqo bg ljqdo pjq{ ijuyok ar Mq' Juduy{bg‒y ljif ch fgctlokdo ch {eo

ljt, {eo kojklbgoy bg {eo Yieokulbgd Cqkoq toqo o{ogkok' Mq' Juduy{bg jlyc jppojlok ioq{jbg ch 

{eby Icuq{‒y cqkoqy qodjqkbgd {eo kbyicxoqr kbypu{oy' [ecyo jppojly toqo ul{bmj{olr kbymbyyok

ar {eo Kby{qbi{ Icuq{, {eo ljy{ ch tebie tjy kbymbyyok cg Nulr :?, 10:0, ogjalbgd {eo Icuq{ {c

pqciook tb{e {eo [qbjl'

HJI[Y YPOIBHBI [C [EO ILJBM KBYP_[O

[eo Acqqctoqy

1:' 

Mq' Juduy{bg ejy j Ajieolcq‒y ch Yibogio kodqoo bg pclb{bijl yibogio, auybgoyy,

jgk oicgcmbiy hqcm Yjlom Y{j{o Icllodo' Eo qoiobxok j Mjy{oqy bg Pualbi Jkmbgby{qj{bcg hqcm

Yuhhclf _gbxoqyb{r jgk, bg :222, j Mjy{oq‒y bg Auybgoyy Jkmbgby{qj{bcg hqcm {eo _gbxoqyb{r ch 

Lctoll'

11'  Mq' Juduy{bg ejk aoog bgxclxok bg logkbgd {qjgyji{bcgy jy j acqqctoq pqbcq {c {eo

qoiobxbgd {eo lcjg hqcm Got Iog{uqr' Bg Njgujqr :222, Mq' Juduy{bg acqqctok mcgor {c

puqiejyo j ecuyo jgk eo qohbgjgiok {eo ecuyo bg 1009' [q' :8;>:5-1?' Mq' Juduy{bg tjy jlyc j

yolh-omplcrok og{qopqogouq pqbcq {c qoiobxbgd eby lcjg hqcm Got Iog{uqr, quggbgd jg bmpcq{ jgk

opcq{ auybgoyy tb{e cpoqj{bcgy bg Ejb{b' [q' :8?>;-:4'

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4

:90?88'0:800#;0:2198:x'9 

19'  Cg cq jacu{ Mjr :4, 1001, Kjgxoqyajgf %h#f#j Kjgxoqy Yjxbgdy Ajgf" byyuok j

ymjll auybgoyy lcjg {c Mq' Juduy{bg‒y auybgoyy, bg {eo jppqcbmj{o jmcug{ ch +??,000 %{eo

“Kjgxoqy Lcjg”", {c ogjalo Mq' Juduy{bg‒y auybgoyy {c opcq{ pqckui{y {c Ejb{b' Cg Mjr :4,

1001, Mq' Juduy{bg ooiu{ok jg _gicgkb{bcgjl Poqycgjl Dujqjg{r bg icggoi{bcg tb{e {eo

Kjgxoqy Lcjg'

1;'  Mq' Juduy{bg jyyoq{y {ej{ kuo {c {eo pclb{bijl jgk oicgcmbi ilbmj{o bg Ejb{b, {eo

qo{jbl cpoqj{bcgy ch eby auybgoyy bg Ejb{b yuhhoqok, qogkoqbgd eby auybgoyy ugjalo {c mjfo

pjrmog{y kuo ugkoq {eo Kjgxoqy Lcjg, ul{bmj{olr qoyul{bgd bg Mq' Juduy{bg poqycgjllr hblbgd hcq

iejp{oq 4 ajgfqup{ir cg Yop{omaoq 18, 100?, {c pqc{oi{ eby ecmo jgk {c olbmbgj{o jll ugyoiuqok

koa{y'

Acqqctoqy‒ Lcjg Jpplbij{bcgy Yuamb{{ok {c Got Iog{uqr

1?'  Cg Koiomaoq :5, 1009, Aqbdo{ Gdjmpj %“My' Gdjmpj”", Mq' Juduy{bg‒y tbho,

ooiu{ok j Mjyyjieuyo{{y Mcq{djdo Aqcfoq Kbyilcyuqo tb{e Jllbok Ecmo Mcq{djdo Ijpb{jl

Icqp' %“Jllbok”", j mcq{djdo aqcfoq, {ej{ y{j{oy {ej{ Jllbok by gc{ eoq jdog{' [quy{ O' 96 [q'

5;>5-:0'

18'  Huq{eoq, cg Koiomaoq :5, 1009, My' Gdjmpj ooiu{ok j Mjyyjieuyo{{y Ebde

Icy{ Lcjg Jpplbij{bcg Kbyilcyuqo pqcxbkok ar Jllbok, {ej{ y{j{oy> “[eo lcjg tebie tbll ao

chhoqok {c rcu by gc{ goioyyjqblr {eo lojy{ opogybxo lcjg jxjbljalo {c rcu jgk rcu jqo jkxbyok {c

yecp jqcugk {c ko{oqmbgo icmpo{b{bxo bg{oqoy{ qj{oy, pcbg{y, jgk c{eoq hooy jgk iejqdoy'” [quy{

O' ;6 [q' 58>4-:1'

14'  Cg Njgujqr 11, 100;, Got Iog{uqr qoiobxok j lcjg jpplbij{bcg hqcm Jllbok bg

icggoi{bcg tb{e j lcjg ycude{ ar Mq' Juduy{bg jgk My' Gdjmpj' [q' :?;>1? ’ :??>:' Got

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5

:90?88'0:800#;0:2198:x'9 

Iog{uqr bkog{bhbok {eby jy lcjg gumaoq 000:9;;:?1 jgk jgr Got Iog{uqr kciumog{y qohoqqbgd

cq qolj{bgd {c {eo jpplbij{bcg aojq yuie gumaoq' [eby tjy {eo cglr pqoxbcuy lcjg jpplbij{bcg

yuamb{{ok {c Got Iog{uqr cg aoejlh ch Mq' Juduy{bg jgk My' Gdjmpj' [q' :99>9-:9' Cg {eby

jpplbij{bcg, My' Gdjmpj tjy lby{ok jy {eo pqbmjqr acqqctoq jgk Mq' Juduy{bg tjy lby{ok jy {eo

ic-acqqctoq' [q' :99>9-:9' Got Iog{uqr kogbok {eby jpplbij{bcg cg Hoaqujqr 1;, 100;, jgk

byyuok j lo{{oq {c {eo yjmo ohhoi{ cg Mjqie 2, 100;' [q> :9:>1:-196 :91>:2 ’ :99>:96 :??>1:-1?6

:?5>:8-:26 Juduy{bg Oy' ; jgk ?' B{ jppojqy {ej{ {eo jpplbij{bcg tjy kogbok ar Got Iog{uqr

aoijuyo ch {eo aqcfoq‒y hjbluqo {c pqcxbko jll kciumog{j{bcg goioyyjqr {c pqciook tb{e {eo lcjg'

[q' :?8>?-:06 :80>:5 ’ :8:>:'

15'  Cg cq jacu{ Mjqie :4, 100;, Jllbok yuamb{{ok jgc{eoq lcjg jpplbij{bcg {c Got

Iog{uqr cg aoejlh ch Mq' Juduy{bg jgk My' Gdjmpj %iclloi{bxolr, {eo “Acqqctoqy”"' [q'

:8:>:0-11' Got Iog{uqr bkog{bhbok {eby jy lcjg gumaoq 000:;??1;0 jgk jgr Got Iog{uqr

kciumog{y qohoqqbgd cq qolj{bgd {c {eo jpplbij{bcg aojq yuie gumaoq %{eo “GIMI Lcjg”"' Lbfo

{eo pqbcq jpplbij{bcg, My' Gdjmpj tjy lby{ok jy {eo pqbmjqr acqqctoq jgk Mq' Juduy{bg tjy

lby{ok jy {eo ic-acqqctoq' [q' :99>9-:9' [eo GIMI Lcjg by {eo yuanoi{ ch {eo Pqcch ch Iljbm'

12'  Ar lo{{oq kj{ok Mjqie :4, 100;, bg icggoi{bcg tb{e {eo GIMI Lcjg, Got

Iog{uqr yog{ xjqbcuy kciumog{y jkkqoyyok {c My' Gdjmpj {c {eo Acqqctoqy‒ ecmo jkkqoyy'

[quy{ Oy' ?-:46 [q' 52>9 ’ :09>:4' [eo kciumog{y bgilukok {eo hcllctbgd> Lcjg Bghcqmj{bcg

Lo{{oq, [qu{e bg Logkbgd Kbyilcyuqo Y{j{omog{, Dcck Hjb{e Oy{bmj{o, Yoqxbibgd Kbyilcyuqo,

Jppqjbyjl Kbyilcyuqo, Hjbq Logkbgd Gc{bio # OICJ, Icgyumoq‒y Dubko [c Ca{jbgbgd J Ecmo

Mcq{djdo, _gbhcqm Mcq{djdo Lcjg Icy{ Tcqfyeoo{, Mcq{djdo Logkoq Kbyilcyuqo, Jknuy{jalo

Qj{o Mcq{djdo Lcjg Pqcdqjm Kbyilcyuqo, Mcq{djdo Lcjg Icmmb{mog{, jgk Mcq{djdo Lcjg

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2

:90?88'0:800#;0:2198:x'9 

Icmmb{mog{ Jkkogkum %iclloi{bxolr tb{e {eo Mjqie :4, 100; lo{{oq, {eo “Lcjg Bghcqmj{bcg

Pjifjdo”"' [quy{ Oy' ?-:4' [eo Acqqctoqy‒ qoiobp{ ch Lcjg Bghcqmj{bcg Pjifjdo by oxbkogiok

ar {eo hji{ {ej{ yuie kciumog{y jqo ob{eoq ybdgok cq bgb{bjlok ar Mq' Juduy{bg jgk#cq My'

Gdjmpj jgk mcy{ jqo kj{ok Mjqie 11, 100;'? [quy{ Oy' ?-:46 [q' 52>9 ’ :09>:4' [euy, {eo

Acqqctoqy ejk qoiobxok {eo Lcjg Bghcqmj{bcg Pjifjdo gc{ loyy {ejg {tog{r-hcuq %1;" kjry pqbcq

{c {eo Jpqbl :?, 100; ilcybgd cg {eo lcjg pqcxbkok ar Got Iog{uqr'

90'  [eo kciumog{y bg {eo Lcjg Bghcqmj{bcg Pjifjdo ilojqlr bgkbij{ok {ej{ {eo lcjg

pqckui{ aobgd chhoqok ar Got Iog{uqr {c {eo Acqqctoqy tjy jg jknuy{jalo qj{o lcjg {ej{ ejk

pqopjrmog{ pogjl{boy' Yoo, o'd', [qu{e bg Logkbgd Kbyilcyuqo Y{j{omog{ %[quy{ O' 4"6 Mcq{djdo

Logkoq Kbyilcyuqo %[quy{ O' :;"6 Jknuy{jalo Qj{o Mcq{djdo Lcjg Pqcdqjm Kbyilcyuqo %[quy{

O' :?"6 jgk Mcq{djdo Lcjg Icmmb{mog{ %[quy{ O' :8"'8 

9:'  Cg Jpqbl :?, 100;, Mq' Juduy{bg jgk My' Gdjmpj ilcyok cg {eo GIMI Lcjg,

puqyujg{ {c tebie {eor acqqctok +155,000 hqcm Got Iog{uqr' [eo GIMI Lcjg tjy yoiuqok

ar j mcq{djdo cg {eo pqcpoq{r lcij{ok j{ 15 Iokjq Y{qoo{, Lctoll, Mjyyjieuyo{{y 0:5?1 %{eo

“Pqcpoq{r”"' [eo Acqqctoqy qoiobxok +14,0:4'08 ijye hqcm {eo {qjgyji{bcg, tebie Mq' Juduy{bg

bgxoy{ok bg{c eby auybgoyy' Pqciooky ch {eo GIMI Lcjg toqo uyok bg pjq{ {c pjr chh bg hull j

mcq{djdo eolk ar Jmoqbzuoy{ Mcq{djdo bg {eo jmcug{ ch +112,81:'0?' Pqciooky ch {eo GIMI

Lcjg jlyc pjbk jmcug{y ctbgd {c {eo Ib{r ch Lctoll bg {eo jmcug{ ch +:?,2::'00'

? [eo Lcjg Bghcqmj{bcg Lo{{oq by gc{ kj{ok' [eo Icgyumoq‒y Dubko [c Ca{jbgbgd J Ecmo Mcq{djdo aojqy {eo kj{och Mjqie :4, 100; j{ {eo {cp, tebie by {eo kj{o ch {eo Got Iog{uqr lo{{oq {c My' Gdjmpj' Huq{eoq, {eo _gbhcqmMcq{djdo Lcjg Icy{ Tcqfyeoo{ ybdgok ar Mq' Juduy{bg jgk kj{ok Mjqie 11, 100;, bgilukoy jg jifgctlokdomog{{ej{ Mq' Juduy{bg qoiobxok {eo Icgyumoq‒y Dubko {c Ca{jbgbgd j Ecmo Mcq{djdo' [quy{ O' :9'

8 [eo Icgyumoq‒y Dubko {c Ca{jbgbgd j Ecmo Mcq{djdo bgilukok bg {eo Lcjg Bghcqmj{bcg Pjifjdo icg{jbgy jdlcyyjqr ch {oqmy bgb{bjlok ar Mq' Juduy{bg {ej{ kohbgoy {eo {oqmy “Jknuy{jalo cq Xjqbjalo Qj{o Mcq{djdo %JQM cqXQM"” jgk “Qbde{ ch Qoyibyybcg'” [quy{ O' :1'

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:0

:90?88'0:800#;0:2198:x'9 

91'  J{ {eo ilcybgd ch {eo GIMI Lcjg, {eo Acqqctoqy ybdgok {eo hcllctbgd

kciumog{y, jll kj{ok Jpqbl :?, 100; %ugloyy c{eoqtbyo gc{ok"> _gbhcqm Qoybkog{bjl Lcjg

Jpplbij{bcg %[q' :02>:-86 [quy{ O' :2"6 Jkkogkum {c Qoybkog{bjl Lcjg Jpplbij{bcg %gc{ kj{ok"

%[q' ::0>2-:?6 [quy{ O' 10"6 Mcq{djdo %[q' :::>1; ’ ::1>96 [quy{ O' 1:"6 Jknuy{jalo Qj{o Gc{o

%[q' ::9>9-46 [quy{ O' 11"6 Jknuy{jalo Qj{o Qbkoq %[q' ::;>:2-196 [quy{ O' 19"6 Jknuy{jalo

Qj{o Qbkoq Jkkogkum %[q' ::?>?-26 [quy{ O' 1;"6 Pqopjrmog{ Qbkoq %[q' ::?>:?-:26 [quy{ O'

1?"6 Gc{bio ch Qbde{ {c Ijgiol %[q' ::8>8-:06 [quy{ O' 14"6 Dcck Hjb{e Oy{bmj{o %[q' ::8>:?-:56

[quy{ O' 15"6 Hbgjl E_K : Yo{{lomog{ Y{j{omog{ %[q' ::8>:2-196 [quy{ O' 12"6 [qu{e-Bg-

Logkbgd Kbyilcyuqo Y{j{omog{ %[q' ::4>:5-116 [quy{ O' 90"6 Mcq{djdo Logkoq Kbyilcyuqo %[q'

::5>8-26 [quy{ O' 9:"6 Icgyumoq‒y Dubko [c Ca{jbgbgd J Ecmo Mcq{djdo %[quy{ O' 91"6 Hjbq

Logkbgd Gc{bio# OICJ %[q' ::5>:;-:26 [quy{ O' 99"6 Gjmo Xoqbhbij{bcg Jhhbkjxb{y %[q' ::5>:;-

:26 [quy{ O' 9;"6 _gbhcqm Mcq{djdo Lcjg Icy{ Tcqfyeoo{ %[q' ::5>:;-:26 [quy{ O' 9?"6

Jknuy{jalo Qj{o Mcq{djdo Lcjg Pqcdqjm Kbyilcyuqo %[q' ::5>:;-:26 [quy{ O' 98"6 Yoqxbibgd

Kbyilcyuqo %[q' ::5>:;-:26 [quy{ O' 94"6 Acqqctoq‒y Ioq{bhbij{bcg jgk Ju{ecqb~j{bcg kj{ok Jpqbl

:?, 100; %[q' ::5>:;-:26 [quy{ O' 95"6 jgk Ciiupjgir Jhhbkjxb{ jgk Hbgjgibjl Y{j{uy %[q'

::2>::-:?6 [quy{ O' 92" %iclloi{bxolr, {eo “Ilcybgd Kciumog{y”"'

99'  B{ by ilojq hqcm {eo Ilcybgd Kciumog{y pqcxbkok {c jgk ybdgok ar {eo Acqqctoqy

j{ ilcybgd {ej{ {eo GIMI Lcjg tjy jg jknuy{jalo qj{o mcq{djdo %JQM" jgk {ej{ {eoqo tjy j

pqopjrmog{ pogjl{r jyycibj{ok tb{e {eo GIMI Lcjg' Yoo, o'd', _gbhcqm Qoybkog{bjl Lcjg

Jpplbij{bcg %[quy{ O' :2"6 Jknuy{jalo Qj{o Gc{o %[quy{ O' 11"6 Jknuy{jalo Qj{o Qbkoq %[quy{

O' 19"6 Jknuy{jalo Qj{o Qbkoq Jkkogkum %[quy{ O' 1;"6 Pqopjrmog{ Qbkoq %[quy{ O' 1?"6

[qu{e-Bg-Logkbgd Kbyilcyuqo Y{j{omog{ %[quy{ O' 90"6 Mcq{djdo Logkoq Kbyilcyuqo %[q' ::5>8-

26 [quy{ O' 9:"6 Icgyumoq‒y Dubko [c Ca{jbgbgd J Ecmo Mcq{djdo %[quy{ O' 91"6 jgk

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::

:90?88'0:800#;0:2198:x'9 

Jknuy{jalo Qj{o Mcq{djdo Lcjg Pqcdqjm Kbyilcyuqo %[quy{ O' 98"'

9;'  [eo _gbxoqyjl Qoybkog{bjl Lcjg Jpplbij{bcg %{eo “Jpplbij{bcg”" icg{jbgy jg

jifgctlokdomog{ y{j{bgd>

Ojie ch {eo ugkoqybdgok ypoibhbijllr qopqoyog{y {c Logkoq … jgk jdqooy jgkjifgctlokdoy {ej{ %:" {eo bghcqmj{bcg pqcxbkok bg {eby jpplbij{bcg by {quo jgkicqqoi{ jy ch {eo kj{o yo{ hcq{e cppcyb{o mr ybdgj{uqo jgk {ej{ jgr bg{og{bcgjlcq godlbdog{ mbyqopqoyog{j{bcg ch {eby bghcqmj{bcg icg{jbgok bg {eby jpplbij{bcgmjr qoyul{ bg ibxbl lbjablb{r, bgilukbgd mcgo{jqr kjmjdoy {c jgr poqycg tecmjr yuhhoq jgr lcyy kuo {c qolbjgio upcg jgr mbyqopqoyog{j{bcg {ej{ B ejxomjko cg {eby jpplbij{bcg, jgk#cq bg iqbmbgjl pogjl{boy …

[quy{ O' :2'

9?'  [eo Acqqctoqy‒ jlyc ybdgok {eo Acqqctoqy‒ Ioq{bhbij{bcg jgk Ju{ecqb~j{bcg j{

ilcybgd teoqoar {eor ioq{bhbok {ej{>

:' To ejxo jpplbok hcq j mcq{djdo lcjg hqcm Got Iog{uqr Mcq{djdoIcqpcqj{bcg' Bg jpplrbgd hcq {eo lcjg, B#To icmplo{ok j lcjg jpplbij{bcgicg{jbgbgd xjqbcuy bghcqmj{bcg cg {eo puqpcyo ch {eo lcjg, {eo jmcug{ jgkycuqio ch {eo kctg pjrmog{, omplcrmog{ jgk bgicmo bghcqmj{bcg, jgk jyyo{yjgk lbjablb{boy' B#To ioq{bhr {ej{ jll ch {eo bghcqmj{bcg by {quo jgk icmplo{o'

B#To mjko gc mbyqopqoyog{j{bcgy bg {eo lcjg jpplbij{bcg cq c{eoq kciumog{y,gcq kbk B#To cmb{ jgr poq{bgog{ bghcqmj{bcg …'

9' B#To hullr ugkoqy{jgk {ej{ b{ by j Hokoqjl iqbmo pugbyejalo ar hbgo cqbmpqbycgmog{, cq ac{e, {c fgctbgdlr mjfo jgr hjlyo y{j{omog{y teogjpplrbgd hcq {eby mcq{djdo, jy jpplbijalo ugkoq {eo pqcxbybcgy ch [b{lo :5,_gb{ok Y{j{oy Icko, Yoi{bcg :0:;'

[quy{ O' 95'

98'  Koypb{o {eo jifgctlokdomog{y jgk ioq{bhbij{bcgy ar {eo Acqqctoqy, {eo Acqqctoqy

fgctbgdlr yuamb{{ok hjlyo jgk mbylojkbgd bghcqmj{bcg bg {eo Jpplbij{bcg' Yoo, o'd', [q' 4?>;-86

:8?>:2 ’ :88>:96 :45>::-:16 :50>:?-106 [quy{ O' 1, Kop' [q' :24>1 ’ :25>1' [eo hjlyo jgk

mbylojkbgd bghcqmj{bcg bgilukoy {eo hcllctbgd> %b" My' Gdjmpj‒y bgicmo tjy cxoqy{j{ok j{

+;,000 poq mcg{e6 %bb" My' Gdjmpj‒y ciiupj{bcg jy “[ojieoq” tjy mbylojkbgd, jy yeo tjy cglr j

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:1

:90?88'0:800#;0:2198:x'9 

yuay{b{u{o {ojieoq6 jgk %bbb" {eo Kjgxoqy Lcjg by gc{ lby{ok jy j lbjablb{r jgrteoqo cg {eo

Jpplbij{bcg koypb{o {eo hji{ {ej{ Mq' Juduy{bg ejk poqycgjllr dujqjg{ook {eo lcjg' [quy{ O' :26

[q' 4?>;-86 :04>:0-:86 :05>;-?6 :05>:;-:56 :02>:8-:46 :02>19 ’ ::0>:6 :8?>:2 ’ :88>:96 :45>::-

:16 :50>:?-10'

94'  [eo GIMI Lcjg tjy hugkok cg Jpqbl 10, 100;' [q' :?9>:;'

[eo Aqcfoq -- Jllbok

95'  [eo GIMI Lcjg tjy j tecloyjlo {qjgyji{bcg, mojgbgd {eo aqcfoq tjy Got

Iog{uqr‒y ilbog{' [q' :11>:2-10' Jllbok, qj{eoq {ejg Got Iog{uqr, ejk jll ch {eo bg{oqji{bcg tb{e

{eo Acqqctoqy' [q' :11>1:-11' Jllbok, qj{eoq {ejg Got Iog{uqr, {ccf {eo lcjg jpplbij{bcg,

cqkoqok {eo iqokb{ qopcq{ ch {eo Acqqctoqy, jgk cqkoqok jg jppqjbyjl ch {eo Acqqctoqy‒ pqcpoq{r'

[q' :11>1:-1?' Jllbok tculk pjifjdo up jll ch {eby bghcqmj{bcg jgk yuamb{ b{ {c xjqbcuy logkoqy'

[q' :19>:' Bg {eby ijyo, Jllbok yuamb{{ok {eo GIMI Lcjg jpplbij{bcg {c Got Iog{uqr' [q'

:19>1'

92'  [eo cglr icg{ji{ Got Iog{uqr tculk ejxo ejk tb{e {eo Acqqctoqy tculk ao {c

yogk {eo Acqqctoqy jg bgb{bjl kbyilcyuqo pjifjdo tb{ebg {eqoo kjry ch qoiobxbgd {eo lcjg

jpplbij{bcg' [q' :19>11 ’ :1;>9' Mq' Juduy{bg ejy gc{ jllodok jgr c{eoq icg{ji{ tb{e Got

Iog{uqr pqbcq {c {eo hugkbgd ch {eo lcjg'

;0'  Jllbok tjy j xoqr ljqdo aqcfoq {ej{ ejk aqjgieoy jll cxoq {eo icug{qr' [q' :19>8-

5' Jllbok jgk Got Iog{uqr ejk j aqcfoq jdqoomog{ {ej{ pqcxbkok {ej{ Jllbok by gc{ jg jdog{ cq

omplcroo ch Got Iog{uqr jgk puqyujg{ {c tebie Jllbok jdqook {c jabko ar jll y{j{o, lcijl jgk

hokoqjl quloy jgk qodulj{bcgy jgk {c ao pqcpoqlr lbiogyok' [q' :19>2-:2' Aqcfoqy jqo gc{ jdog{y

cq omplcrooy ch Got Iog{uqr' [q' :19>:9-:8' Gc poqycg j{ Jllbok oxoq {clk Mq' Juduy{bg {ej{

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:9

:90?88'0:800#;0:2198:x'9 

Jllbok tjy ctgok cq jyycibj{ok tb{e Got Iog{uqr' [q' ::2>11-1?'

[eo Logkoq ’ Got Iog{uqr

;:'  Jy j logkoq, Got Iog{uqr chhoqok kbhhoqog{ lcjg pqckui{y, bgilukbgd hull

kciumog{j{bcg lcjgy, lbmb{ok kciumog{j{bcg lcjgy, jgk y{j{ok bgicmo lcjgy' [q' :18>8-:0' Got

Iog{uqr jlyc chhoqok jknuy{jalo qj{o mcq{djdoy %“JQMy”" hbok hcq xjqbcuy poqbcky ch {bmo,

bgilukbgd {tc-rojq, {eqoo-rojq jgk hbxo-rojq hbok poqbcky hcq JQMy' [q' :18>::-:9'

;1'  [eo GIMI Lcjg tjy j y{j{ok bgicmo lcjg' [q' :15>1? ’ :12>1' Bg icggoi{bcg

tb{e {eo GIMI Lcjg, Jllbok yuamb{{ok j yeoo{ bgkbij{bgd {eo pqckui{ ycude{ hqcm Got Iog{uqr

tjy j y{j{ok bgicmo lcjg' [q' :14>2-:?' J y{j{ok bgicmo lcjg pqcxbkoy gc yuppcq{bgd

kciumog{j{bcg {c yuppcq{ {eo bgicmo lby{ok cg {eo lcjg jpplbij{bcg, jgk gc yuppcq{bgd

kciumog{j{bcg by qozubqok cq qozuoy{ok {c yuppcq{ {eo y{j{ok bgicmo' [q' :18>:?-:46 :;9>16

:81>10-1?' Got Iog{uqr tculk gc{ ejxo qozuoy{ok jgr T-1y hqcm {eo Acqqctoqy jgk Got

Iog{uqr‒y lcjg hblo hcq {eo Acqqctoqy kbk gc{ icg{jbg jgr T-1y' [q' :81>10-1?'

;9'  [eo y{j{ok bgicmo lcjg jpplbij{bcg by yuamb{{ok ugkoq pogjl{r ch poqnuqr {ej{ b{ by

{quo jgk icqqoi{' [q' :18>:4-:2' J y{j{ok bgicmo lcjg ch{og ejy j ylbde{lr ebdeoq bg{oqoy{ qj{o

aoijuyo {eo acqqctoqy jqo gc{ pqcxbkbgd {eo kciumog{j{bcg {c yuppcq{ {eo y{j{ok bgicmo' [q'

:14>:5-10' [eby pqckui{ mjr ao pqohoqqok ar j acqqctoq {ej{ by yolh-omplcrok, lbfo Mq'

Juduy{bg, aoijuyo {eo lcjg ijg ao pqcioyyok mcqo zubiflr jgk {eo acqqctoq mjr gc{ tjg{ {c

pqopjqo cq dj{eoq eby#eoq qoloxjg{ {j qo{uqgy ’ poqycgjl jgk icqpcqj{o' [q' :14>:8-1?'

;;'  Cg j y{j{ok bgicmo lcjg, gc bgicmo xoqbhbij{bcg by poqhcqmok' [q' :89>:-;' [eo

y{j{ok bgicmo muy{ ao icgyby{og{ tb{e {eo jxoqjdo bgicmo hcq {eo ypoibhbok bgkuy{qr' [q' :18>:4-

:26 :;9>:-1' Got Iog{uqr‒y dubkolbgoy hcq y{j{ok bgicmo lcjgy bg ohhoi{ j{ {eo {bmo ch {eo

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:;

:90?88'0:800#;0:2198:x'9 

ilcybgd ch {eo GIMI Lcjg qozubqok j xoqajl xoqbhbij{bcg ch omplcrmog{' [q' :12>9 ’ :90>96

[quy{ O' ??' Hcq j yjljqbok acqqctoq, Got Iog{uqr tjy {c poqhcqm j “xoqajl jukb{” jgk

mjbg{jbg tqb{{og oxbkogio ch {eo {olopecgo icg{ji{ tb{e {eo omplcroq ar icmplo{bgd {eo

hcllctbgd y{opy> %b" bkog{bhr {eo gjmo ch {eo omplcroq6 %bb" bkog{bhr {eo gjmo jgk {b{lo ch {eo

bgkbxbkujl icg{ji{ok j{ {eo omplcroq‒y chhbio6 %bbb" icghbqm {ej{ {eo acqqctoq by iuqqog{lr

omplcrok6 %bx" icghbqm {eo acqqctoq‒y pcyb{bcg jgk ebqo kj{o6 %x" bgkbij{o {eo kj{o ch icg{ji{6

jgk %xb" bkog{bhr {eo gjmo ch {eo jyycibj{o tec mjko {eo icg{ji{' [q' :12>9 ’ :90>96 [quy{ O'

??' [eo dubkolbgoy qozubqok j xoqajl xoqbhbij{bcg ch omplcrmog{ pqbcq {c ilcybgd, gc{ j xoqajl

xoqbhbij{bcg ch bgicmo' [q' :;9>9-56 [quy{ O' ??'

;?'  [eo xoqajl xoqbhbij{bcg ch omplcrmog{ hcqm bgilukok bg {eo GIMI Lcjg hblo

bgkbij{oy {ej{ {eo ugkoqtqb{oq j{ Got Iog{uqr poqhcqmok j xoqajl xoqbhbij{bcg ch My' Gdjmpj‒y

omplcrmog{ {ej{ tjy icgyby{og{ tb{e Got Iog{uqr‒y ugkoqtqb{bgd dubkolbgoy' [q' :90>;-11'

[eo Ilcybgd J{{cqgor ’ Yjmuol Qooh 

;8'  J{{cqgor Yjmuol Qooh tjy {eo ilcybgd j{{cqgor hcq {eo GIMI Lcjg' [q'

:99>:2-10' Mq' Qooh goxoq {clk Mq' Juduy{bg {ej{ eo tjy Mq' Juduy{bg‒y ljtroq' [quy{

O' 1, Kop' [q' 1:>:1-:8' [eo Jkkogkum {c Qoybkog{bjl Lcjg Jpplbij{bcg ybdgok ar {eo

Acqqctoqy bgkbij{oy {ej{ “[eo qoypcgybablb{r ch {eo j{{cqgor hcq {eo Logkoq by {c pqc{oi{

{eo bg{oqoy{y ch {eo Logkoq” jgk {ej{ “Rcu, {eo Acqqctoq, mjr, j{ rcuq ctg opogyo,

ogdjdo jg j{{cqgor ch rcuq ctg yoloi{bcg {c qopqoyog{ rcuq bg{oqoy{y bg {eo {qjgyji{bcg'”

[quy{ O' 10'

;4'  [eo ilcybgd j{{cqgor by jg ju{ecqb~ok jdog{ ch j {b{lo icmpjgr' [q' :9;>96

:?0>:5-116 [quy{ O' ?8' [eo ilcybgd j{{cqgor poqhcqmy j {b{lo yojqie {c mjfo yuqo {ej{

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:?

:90?88'0:800#;0:2198:x'9 

{eoqo jqo gc oby{bgd lbogy cg {eo pqcpoq{r' [q' :9;>9-?' [c {eo o{og{ {eoqo jqo oby{bgd

lbogy, {eo ilcybgd j{{cqgor ca{jbgy pjrchh y{j{omog{y {c mjfo yuqo {eo lbogy jqo pjbk bg hull

’ ogyuqbgd j logkoq‒y lbog pcyb{bcg' [q' :9;>9-2'

;5'  Got Iog{uqr kcoy gc{ ebqo {eo ilcybgd j{{cqgor' [q' :9;>:0-:9' Bg {eby

ijyo, Jllbok tculk ejxo iecyog {eo ilcybgd j{{cqgor, gc{ Got Iog{uqr' [q' :9;>:1-:?'

Got Iog{uqr kbk gc{ ejxo jgr icg{qji{ cq jdqoomog{ ch jgr fbgk tb{e {eo ilcybgd

j{{cqgor' [q' :9;>:2-19' Got Iog{uqr kbk gc{ pjr {eo ilcybgd j{{cqgor6 Mq' Qooh tjy

pjbk {eqcude {eo lcjg pqciooky' [q' :9;>:8-:5'

;2'  Teblo Mq' Juduy{bg jllodoy {ej{ Mq' Qooh quyeok {eqcude {eo ilcybgd cg

{eo GIMI Lcjg, Mq' Juduy{bg jkmb{{ok {ej{ eo kbk gc{ {qr {c qojk {eo lcjg kciumog{y j{

{eo ilcybgd cg {eo GIMI Lcjg'

?0'  Mq' Qooh hjblok {c bkog{bhr {eo Kjgxoqy Lcjg jgk icqqoypcgkbgd mcq{djdo

cg {eo Pqcpoq{r {eqcude eby {b{lo yojqie' [q' :?:>:;-1:6 :?1>:4-:5' Jy j qoyul{ ch {eby

oqqcq, Got Iog{uqr tjy bg j yoicgk lbog pcyb{bcg hcq j yecq{ jmcug{ ch {bmo jgk {eo {b{lo

bgyuqoq, Icmmcgtojl{e Ljgk [b{lo Bgyuqjgio Icmpjgr %“Icmmcgtojl{e”", ejk {c

qopuqiejyo {eo Kjgxoqy Lcjg' [q' :?:>?-:?6 :?1>1:-11'

[eo [b{lo Bgyuqoq ’ Icmmcgtojl{e Ljgk [b{lo Bgy' Ic'

?:'  Icmmcgtojl{e pqcxbkok {b{lo bgyuqjgio {c Got Iog{uqr bg icggoi{bcg

tb{e {eo GIMI Lcjg, bgyuqbgd Got Iog{uqr‒y lbog pcyb{bcg' [q' :94>11-1?' Bh {eoqo tjy

j lbog {ej{ {eo ilcybgd j{{cqgor kbk gc{ ij{ie, jy tjy {eo ijyo eoqo, Icmmcgtojl{e tculk

ao lbjalo {c ob{eoq pjr chh yuie lcjg cq bgkomgbhr Got Iog{uqr cq {jfo c{eoq ji{bcg {c

ogyuqo {ej{ Got Iog{uqr‒y lbog by bg {eo pqcpoq pcyb{bcg' [q' :95>:-;' [eo {b{lo bgyuqjgio

Page 19: Pierre Augustin v New Century TRS Holdings Inc Findings of Facts and Conclusions (proposed by New Century)

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:8

:90?88'0:800#;0:2198:x'9 

pclbir pqcxbkok {c Got Iog{uqr ar Icmmcgtojl{e tjy yclolr hcq {eo aogohb{ ch Got

Iog{uqr jgk b{y yuiioyycqy jgk#cq jyybdgy6 {eoqo toqo gc c{eoq {ebqk pjq{r aogohbibjqboy'

[q' :95>?-:;6 [quy{ O' ?8'

[eo Qojl Pqcpoq{r Jppqjbyoq ’ Aojicg Jppqjbyjl

?1'  [eo jppqjbyjl uyok bg icggoi{bcg tb{e {eo GIMI Lcjg, pqopjqok ar

Aojicg Jppqjbyjl jgk qozuoy{ok ar Jllbok, bgkbij{oy {ej{ {eo Pqcpoq{r ejk j xjluo ch 

+910,000 jy ch Koiomaoq 12, 1009' [quy{ O' 1, Kop' [q' O' 9, p' 114-;; ch 12?' Mq'

Juduy{bg aolboxok {eo Pqcpoq{r ejk j xjluo ch +900,000 bg ojqlr {c mbk-100;' [quy{ O'

1, Kop' [q' :08>9-:;'

[eo Acqqctoqy‒ Hbgjgibjl [qcualoy

?9'  Ao{toog Jpqbl 100; jgk Yop{omaoq 100?, Mq' Juduy{bg mjko j lb{{lo loyy

{ejg +;?,000 poq rojq' Eo tjy jalo {c mjfo {eo pjrmog{y ctbgd cg {eo GIMI Lcjg

kuqbgd {eby {bmo' [eo mcg{elr pjrmog{ cg {eo GIMI Lcjg kbk gc{ iejgdo kuqbgd {eby

{bmo' [eo mcg{elr pjrmog{ ugkoq {eo GIMI Lcjg tjy +:,2;?':5' Mq' Juduy{bg‒y

mcg{elr pjrmog{ ugkoq eby pqbcq Jmoqbzuoy{ lcjg tjy +:,884':1'

?;'  Pqbcq {c Yop{omaoq 100;, Mq' Juduy{bg tjy ugjalo {c mjfo {eo pjrmog{y

kuo ugkoq {eo Kjgxoqy Lcjg' [eby qoyul{ok bg Kjgxoqyajgf {jfbgd ji{bcgy {c hcqoilcyo cg

{eo Pqcpoq{r'

??'  Bg Yop{omaoq 100;, My' Gdjmpj mcxok {c Bllbgcby aoijuyo ch {eo y{qoyy

qolj{ok {c Mq' Juduy{bg‒y hjblok cpoqj{bcgy bg Ejb{b jgk Kjgxoqyajgf ijllbgd jacu{

hcqoilcybgd cg {eo Pqcpoq{r jgk, cgio bg Bllbgcby, yeo {ccf j ieombijl ogdbgooqbgd nca

tb{e Jaac{{ Ljacqj{cqboy' Kuqbgd {eby {bmo, Mq' Juduy{bg {qjxolok ajif jgk hcq{e

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:4

:90?88'0:800#;0:2198:x'9 

ao{toog {eo _gb{ok Y{j{oy jgk Ejb{b'

?8'  Ao{toog Jpqbl 100; jgk Yop{omaoq 100?, Mq' Juduy{bg jpplbok hcq

jgc{eoq qohbgjgibgd lcjg tb{e Iejyo, ecpbgd {c do{ ogcude mcgor {c pjr chh {eo Kjgxoqy

Lcjg'

?4'  Cg Yop{omaoq 18, 100?, Mq' Juduy{bg hblok hcq poqycgjl ajgfqup{ir ugkoq

iejp{oq 4, bg {eo _gb{ok Y{j{oy Ajgfqup{ir Icuq{ hcq {eo Kby{qbi{ ch Mjyyjieuyo{{y, Ijyo

Gc' 0?-;82?4' Ncgj{ejg Q' Dclkymb{e tjy jppcbg{ok iejp{oq 4 {quy{oo cxoq Mq'

Juduy{bg‒y oy{j{o' [eo ijuyo ch Mq' Juduy{bg‒y poqycgjl ajgfqup{ir qolj{oy pqbmjqblr {c

{eo Kjgxoqy Lcjg jgk eby j{{omp{ {c yjxo eby ecmo'

?5'  Cg cq jacu{ Mjqie 5, 1008, Mq' Juduy{bg icmmogiok jg ji{bcg jdjbgy{

Kjgxoqyajgf, Jmoqbzuoy{ Mcq{djdo, Dlcajl Icgyul{jg{y Kbqoi{, Jlog E' Yodjl, Clk

Qopualbi Gj{bcgjl Bgyuqjgio, Got Iog{uqr, Jllbok, Yjmuol Qooh, Icmmcgtojl{e jgk

Iejyo Ecmo Hbgjgio ar hblbgd j icmpljbg{ %{eo “Icmpljbg{”" bg {eo _gb{ok Y{j{oy

Kby{qbi{ Icuq{ hcq {eo Kby{qbi{ ch Mjyyjieuyo{{y, Ijyo Gc' 08-:0985-GMD %{eo

“Mjyyjieuyo{{y Ji{bcg”"' Mq' Juduy{bg bgkbij{oy {ej{ {eo Icmpljbg{ “by bg qoypcgyo ch 

kohogkjg{, Kjgxoqyajgf, hcqoilcybgd cg pljbg{bhh‒y qoybkog{bjl ecuyo yieokulok hcq Mjqie

:?, 1008'”

?2'  Mq' Juduy{bg bgkbij{ok {ej{ eo tjy jalo {c icg{bguo pjrbgd {eo jmcug{y

kuo cg {eo GIMI Lcjg jgk tculk ejxo icg{bguok {c kc yc bh {eo nukdo bg eby ajgfqup{ir

ijyo ejk gc{ dqjg{ok Kjgxoqyajgf y{jr qolboh {c pqciook {c hcqoilcyo cg {eo Pqcpoq{r'

80'  [eo Acqqctoqy‒ kohjul{ cg {eo GIMI Lcjg tjy {eo qoyul{ ch Mq'

Juduy{bg‒y bgjablb{r {c {bmolr mjfo pjrmog{y ugkoq {eo Kjgxoqy Lcjg aoijuyo ch eby

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:5

:90?88'0:800#;0:2198:x'9 

hjblok auybgoyy'

[eo GIMI Lcjg Pcy{-Ilcybgd

8:'  Jh{oq {eo GIMI Lcjg ilcyok jgk tjy hugkok, Got Iog{uqr yclk {eo

GIMI Lcjg {c cgo ch b{y bgxoy{cqy' [q' :98>8-:0' [eoqojh{oq, yoqxbibgd ch {eo GIMI

Lcjg tjy qolojyok' [q' :98>::-:;' Jh{oq {eo GIMI Lcjg tjy yclk jgk {eo Got

Iog{uqr qolojyok {eo yoqxbibgd qbde{y, Got Iog{uqr kbk gc{ qo{jbg jgr bg{oqoy{ bg {eo

GIMI Lcjg' [q' :94>5-:1'

81'  Cg cq jacu{ Mjqie 2, 1008, Icmmcgtojl{e puqiejyok j mcq{djdo cg {eo

pqcpoq{r eolk ar Kjgxoqyajgf kj{ok Mjr :4, 1001 %{eo “Kjgxoqy Mcq{djdo”", jgk

og{oqok bg{c jg Jyybdgmog{ ch Mcq{djdo hqcm Kjgxoqyajgf kj{ok Mjqie 2, 1008'

89'  Cg Mjqie 12, 1008, Icmmcgtojl{e, jy eclkoq ch {eo Kjgxoqy Mcq{djdo,

jdqook {c yuacqkbgj{o {eo Kjgxoqy Mcq{djdo {c Got Iog{uqr‒y mcq{djdo cg {eo Pqcpoq{r'

8;' 

Icgyby{og{ tb{e b{y calbdj{bcgy ugkoq {eo {b{lo bgyuqjgio pclbir tb{e Got

Iog{uqr {c jkkqoyy {eo hjbluqo {c bkog{bhr {eo Kjgxoqy Mcq{djdo j{ {eo {bmo ch {eo GIMI

Lcjg ilcybgd, Icmmcgtojl{e puqiejyok {eo Kjgxoqy Mcq{djdo jgk yuacqkbgj{ok b{ {c

Got Iog{uqr‒y mcq{djdo cg {eo pqcpoq{r' [quy{ O' ?8'

8?'  Cg Nugo 15, 1004, Iejyo Ecmo Hbgjgio LLI, bg b{y ijpjib{r jy j{{cqgor-

bg-hji{ hcq Kou{yieo Ajgf Gj{bcgjl [quy{ Icmpjgr, [quy{oo, hblok j hcqoilcyuqo kook bg

{eo Mbkkloyo Icug{r Qodby{qr ch Kooky'

88'  Cg cq jacu{ Hoaqujqr 2, 1005, Icmmcgtojl{e hblok j Tjbxoq ch Gc{bio ch 

Hcqoilcyuqo bg {eo Mbkkloyo Icug{r Qodby{qr ch Kooky bg icggoi{bcg tb{e {eo

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:2

:90?88'0:800#;0:2198:x'9 

hcqoilcyuqo cg {eo Pqcpoq{r'

[EBY IC_Q[ QOJIEOY [EO HCLLCTBGD ICGIL_YBCGY CH LJT>

:'  [eby Icuq{ ejy nuqbykbi{bcg cxoq {eby mj{{oq puqyujg{ {c 15 _'Y'I' ¤¤ :?4 jgk

:99;' Xoguo by pqcpoq puqyujg{ {c 15 _'Y'I' ¤¤ :;05 jgk :;02' [eby by j icqo pqciookbgd

puqyujg{ {c 15 _'Y'I' ¤ :?4%a"%1"%A"'

1'  Ar hblbgd {eo Pqcch ch Iljbm tb{e {eby Icuq{, Mq' Juduy{bg yuamb{{ok ebmyolh {c

{eo ozub{jalo nuqbykbi{bcg ch {eby Icuq{ {c ko{oqmbgo eby jyyoq{ok iljbm jdjbgy{ Got Iog{uqr, cgo

ch {eo jacxo-ijp{bcgok koa{cqy'

9'  Bg {eo bg{oqoy{ ch {ecqcudegoyy, {eoyo VPqcpcyok] Icgiluybcgy ch Ljt tbll jkkqoyy

ojie ch {eo iljbmy qjbyok ar Mq' Juduy{bg bg eby Pqcch ch Iljbm6 ectoxoq, j{ {eo oxbkog{bjqr

eojqbgd bg {eby mj{{oq, Mq' Juduy{bg kbk gc{ pqoyog{ oxbkogio cq jqdumog{ cg mcy{ ch eby cqbdbgjl

iljbmy, bgilukbgd jll {eo y{j{u{cqr iljbmy, jgk b{ by tb{ebg {eo Icuq{‒y kbyiqo{bcg {c kbymbyy {ecyo

iljbmy hcq hjbluqo {c pqcyoiu{o' Yoo, o'd', Lbgf x' Tjajye Q' Ic', 940 _'Y' 818, 812 %:281"'

;'  Got Iog{uqr pqcxbkok {eo Acqqctoqy tb{e {eo goioyyjqr kbyilcyuqoy qozubqok ar

ljt' Teblo Mq' Juduy{bg ejy jyyoq{ok {ej{ eo cglr qoiobxok cgo icpr ch {eo Hokoqjl [qu{e-Bg-

Logkbgd Kbyilcyuqo Y{j{omog{, oxog bh {eby toqo {quo, Mq' Juduy{bg ejy hjblok {c yect jgr

qoyul{bgd ejqm' Bg jgr oxog{, {eo hokoqjl [qu{e bg Logkbgd Ji{ %“[BLJ”" jgk b{y jyycibj{ok

qodulj{bcgy kc gc{ qozubqo {ej{ j acqqctoq ao dbxog mul{bplo icpboy ch {eo [qu{e bg Logkbgd

Kbyilcyuqo Y{j{omog{' Yoo :1 I'H'Q' ¤ 118':4%j"%:" %qozubqbgd {ej{ kbyilcyuqoy ao mjko “ilojqlr

jgk icgypbiucuylr bg tqb{bgd, bg j hcqm {ej{ {eo icgyumoq mjr foop”"' Ar pqcxbkbgd Acqqctoqy

tb{e j{ lojy{ cgo icpr ch {eo [qu{e bg Logkbgd Kbyilcyuqo Y{j{omog{, Got Iog{uqr icmplbok tb{e

[BLJ'

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10

:90?88'0:800#;0:2198:x'9 

?'  [eo Acqqctoqy fgctbgdlr yuamb{{ok hjlyo jgk mbylojkbgd bghcqmj{bcg bg {eo

Jpplbij{bcg' Yoo, o'd', [q' 4?>;-86 :8?>:2 ’ :88>:96 :45>::-:16 :50>:?-106 [quy{ O' 1, Kop' [q'

:24>1 ’ :25>1' [eo hjlyo jgk mbylojkbgd bghcqmj{bcg bgilukoy {eo hcllctbgd> %b" My' Gdjmpj‒y

bgicmo tjy cxoqy{j{ok j{ +;,000 poq mcg{e6 %bb" My' Gdjmpj‒y ciiupj{bcg jy “[ojieoq” tjy

mbylojkbgd, jy yeo tjy cglr j yuay{b{u{o {ojieoq6 jgk %bbb" {eo Kjgxoqy Lcjg by gc{ lby{ok jy j

lbjablb{r jgrteoqo cg {eo Jpplbij{bcg koypb{o {eo hji{ {ej{ Mq' Juduy{bg ejk poqycgjllr

dujqjg{ook {eo lcjg' [quy{ O' :26 [q' 4?>;-86 :04>:0-:86 :05>;-?6 :05>:;-:56 :02>:8-:46 :02>19

’ ::0>:6 :8?>:2 ’ :88>:96 :45>::-:16 :50>:?-10' [eo Acqqctoqy jqo ajqqok hqcm qoicxoqbgd jgr

iljbm jdjbgy{ Got Iog{uqr jy j qoyul{ ch fgctbgdlr yuamb{{bgd hjlyo bghcqmj{bcg bg {eobq

Jpplbij{bcg {c ca{jbg {eo GIMI Lcjg ’ mbyicgkui{ {ej{ qolj{oy kbqoi{lr {c {eo moqb{y ch Mq'

Juduy{bg‒y iljbmy' [ojic Puoq{c Qbic, Bgi' x' Kop${ ch Icgyumoq Jhhjbqy, 80 H'9k 584, 550 %:y{

Ibq' :22?" %“[eo kci{qbgo ch ugilojg ejgky V] jpplboy teog {eo iljbmjg{$y mbyicgkui{ by kbqoi{lr

qolj{ok {c {eo moqb{y ch {eo icg{qcxoqyr ao{toog {eo pjq{boy, {ej{ by, teog {eo {jtkqr ji{y ―bg

ycmo mojyuqo jhhoi{ {eo ozub{jalo qolj{bcgy ao{toog {eo pjq{boy bg qoypoi{ ch ycmo{ebgd aqcude{

aohcqo {eo icuq{ hcq jknukbij{bcg'‒”" %zuc{bgd Fory{cgo Kqblloq Ic' x' Dogoqjl Oijxj{cq Ic', 

120 _'Y' 1;0, 1;? %:299""6 Bg qo Mulljqfor, ;:0 A'Q' 995 %Ajgfq' K' Mjyy' 1002" %“[eo ugilojg

ejgky kci{qbgo by j ―yolh-bmpcyok cqkbgjgio {ej{ ilcyoy {eo kccqy ch j icuq{ ch ozub{r {c cgo

{jbg{ok tb{e bgozub{jalogoyy cq ajk hjb{e qolj{bxo {c {eo mj{{oq bg tebie eo yoofy qolboh, ectoxoq

bmpqcpoq ejxo aoog {eo aoejxbcq ch {eo kohogkjg{'‒”" %zuc{bgd Pqoibybcg Bgy{qumog{ Mhd' Ic' x'

 Ju{c' Mjbg{' Mjie' Ic', 91; _'Y' 508, 5:; %:2;?""'

8'  Mq' Juduy{bg‒y jkmb{{ok hjbluqo {c qojk {eo lcjg kciumog{y aohcqo ybdgbgd {eom

kcoy gc{ pqoxog{ ebm hqcm aobgd acugk ar {eo kciumog{y‒ {oqmy, gcq kcoy b{ jllct ebm {c jqduo

{ej{ eo tjy ugjtjqo ch {eo mbyy{j{omog{y mjko {eoqobg ar ebm jgk eby tbho' Ymb{e x' Nogfbgy,

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1:

:90?88'0:800#;0:2198:x'9 

4:5 H' Yupp' 1k :??, :84 %K' Mjyy' 10:0" %“J poqycg tec ooiu{oy j kciumog{ tbll cqkbgjqblr

ao eolk {c b{y {oqmy teo{eoq cq gc{ eo cq yeo ejy qojk b{ jgk teo{eoq cq gc{ eo cq yeo iljbmy {c

ejxo ugkoqy{cck b{y {oqmy'”" Ejuhloq x' ^c{cy, 5;? G'O'1k 911, 999 %Mjyy' Yup' I{' 1001" %“$[eo

dogoqjl qulo by, {ej{, bg {eo jayogio ch hqjuk, cgo tec ybdgy j tqb{{og jdqoomog{ by acugk ar b{y

{oqmy teo{eoq eo qojky jgk ugkoqy{jgky b{ cq gc{'$”" %zuc{bgd Tblfbybuy x' Yeooejg, :?? G'O' ?

%Mjyy' :214""'

4'  Got Iog{uqr hcllctok b{y ugkoqtqb{bgd dubkolbgoy bg xoqbhrbgd {eo omplcrmog{ ch 

My' Gdjmpj' [q' :90>;-11' Mq' Juduy{bg ejy hjblok {c pqcxo jgr hqjuk cg {eo pjq{ ch Got

Iog{uqr bg icggoi{bcg tb{e {eo GIMI Lcjg'

5'  Got Iog{uqr ctok gc ku{r {c {eo Acqqctoqy' Hjmm Y{ool Bgi'x' Ycxoqobdg Ajgf ,

?4: H'9k 29, :01 %:y{ Ibq' 1002" %“' ' ' V_]gkoq Mjyyjieuyo{{y ljt, {eo qolj{bcgyebp ao{toog j

logkoq jgk j acqqctoq, tb{ecu{ mcqo, kcoy gc{ oy{jalbye j hbkuibjqr ku{r'”"6 Pbmog{jl x'

Tjiecxbj Mcq{djdo Icqp', ;:: H' Yupp' 1k 91, 92 %K' Mjyy' 1008" %“Vl]ogkoqy gcqmjllr kc gc{

cto acqqctoqy hbkuibjqr ku{boy”"' 2'  _gkoq Mjyyjieuyo{{y ljt, {c pqcxo jdogir, cgo muy{ oy{jalbye {ej{ {eo jdog{ jgk

{eo pqbgibpjl jdqook “{ej{ {eo jdog{ by {c ji{ cg aoejlh ch {eo pqbgibpjl jgk yuanoi{ {c {eo

pqbgibpjl‒y icg{qcl'” [eocy ( Ycgy, Bgi' x' Mjif [quify, Bgi', 412 G'O'1k :::9, :::2 %Mjyy'

Yup' I{' 1000" %ib{bgd Fbqfpj{qbif x' Acy{cg Mu{' Lbho Bgy' Ic', ;49 G'O'1k :49 %:25?""' Bg

jkkb{bcg, jppjqog{ ju{ecqb{r ijg cglr ao iqoj{ok ar {eo ji{y ch {eo pqbgibpjl, gc{ {eo jdog{' Ymb{e

x' Nogfbgy, 4:5 H' Yupp' 1k :??, :8? %K' Mjyy' 10:0" %“B{ by {eo icgkui{ ch {eo pqbgibpjl, jgk gc{

{eo icgkui{ ch {eo jdog{, {ej{ iqoj{oy jppjqog{ ju{ecqb{r'”" %ib{bgd Yeobgfcph x' Y{cgo, 214 H'1k

:1?2, :182 %:y{ Ibq':22:""' Mq' Juduy{bg ejy hjblok {c pqcxo {ej{ Jllbok, Mq' Qooh,

Icmmcgtojl{e jgk#cq Aojicg toqo jdog{y ch Got Iog{uqr' Jiicqkbgdlr, {c {eo o{og{ {ej{

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11

:90?88'0:800#;0:2198:x'9 

Jllbok, Mq' Qooh, Icmmcgtojl{e jgk#cq Aojicg jqo hcugk {c ejxo jgr lbjablb{r {c {eo

Acqqctoqy, Got Iog{uqr ejy gc lbjablb{r hcq {eo yjmo' Jgr iljbm ugkoq j {eocqr ch jppjqog{

ju{ecqb{r ybmbljqlr hjbly, jy Mq' Juduy{bg ejy gc{ pqckuiok jgr oxbkogio {ej{ Got Iog{uqr ji{ok

bg j mjggoq {c nuy{bhr j qojycgjalo aolboh {ej{ Jllbok, Mq' Qooh, Icmmcgtojl{e cq Aojicg toqo

jdog{y ch Got Iog{uqr' Yoo, o'd', Hoqgjgkoy x' Ejxfbg, Gc' 05-::;25-MAA, --- H'Yupp'1k ----,

10:0 TL 9:??50?, . 5 %K' Mjyy' Jud' :0, 10:0"'

:0'  Mq' Juduy{bg ejy gc{ pqcpoqlr plok cq pqcxog j ibxbl icgypbqjir iljbm'

Mjyyjieuyo{{y ljt qoicdgb~oy {tc {rpoy ch ibxbl icgypbqjir> {eo hbqy{ qozubqoy {eo pljbg{bhh {c

yect {ej{ {eo kohogkjg{y, teog icmabgok, ooqibyok j ypoibjl icoqibxo pctoq {ej{ {eor kbk gc{

pcyyoyy bgkbxbkujllr6 {eo yoicgk qozubqoy {eo pljbg{bhh {c yect {ej{ {eo kohogkjg{y ogdjdok bg j

icmmcg yieomo {c icmmb{ j {cq{ucuy ji{' Fuqfoq x' Ebll, 852 G'O'1k 599, 598 %Mjyy' I{' Jpp'

:225"' Mq' Juduy{bg ejy hjblok {c pqcxo {ej{ Got Iog{uqr tjy bgxclxok bg jgr ibxbl icgypbqjir

icgioqgbgd {eo GIMI Lcjg'

::'  Mq' Juduy{bg‒y j{{omp{y {c qoyibgk eby ybdgj{uqoy jqo bgohhoi{bxo aoijuyo {eor jqo

gc{ebgd mcqo {ejg dogoqjl kogbjly' _gloyy b{ by ypoibhbijllr kogbok, {eo xjlbkb{r ch j ybdgj{uqo cg

j godc{bjalo bgy{qumog{ by jkmb{{ok ugkoq Mjyyjieuyo{{y ljt6 dogoqjl kogbjly, tb{ecu{ mcqo, tbll

gc{ yuhhbio' Mjyy' Dog' Ljty i' :08 ¤ 9-905 6 Mjyy' Q' Ibx' P' Q' 5%a" %“[eo ybdgj{uqo {c jg

bgy{qumog{ yo{ hcq{e bg jgr plojkbgd yejll ao {jfog jy jkmb{{ok ugloyy j pjq{r ypoibhbijllr kogboy

b{y dogubgogoyy'”"' [eo auqkog ch pqcch {eog hjlly cg {eo pjq{r iejllogdbgd {eo xjlbkb{r ch j

ybdgj{uqo'  Bg qo [uqgoq, ;2 A'Q' 19:, 199 %Ajgfq' K' Mjyy' :25?"'

:1'  [eo GIMI Lcjg tjy gc{ j “ebde icy{” lcjg ugkoq ugkoq Mjyyjieuyo{{y Ebde

Icjy{ Lcjg ljt %Mjyy' Dog' Ljty i' :59I, ¤ 1"' Mcqo bmpcq{jg{lr, Mjyy' Dog' Ljty i' :59I

tjy gc{ bg ohhoi{ j{ {eo {bmo {eo GIMI Lcjg ilcyok, jgk {eo y{j{u{o ejy gc qo{qcji{bxb{r iljuyo'

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19

[eoqohcqo, {eoqo by gc ajyby hcq Mq' Juduy{bg‒y iljbm {ej{ {eo GIMI Lcjg xbclj{oy {eo

Mjyyjieuyo{{y Ebde Icy{ Lcjg ljt'

:9' 

Got Iog{uqr kbk gc{ xbclj{o {eo Qojl Oy{j{o Yo{{lomog{ Pqciokuqoy Ji{

%“QOYPJ”" %:1 _'Y'I' ¤ 1804%j""' Mq' Juduy{bg mjfoy gc jllodj{bcgy qolj{ok {c {eo jkozujir ch 

{eo kbyilcyuqoy eo qoiobxok, gcq kcoy eo jllodo jgr c{eoq QOYPJ xbclj{bcg' Mcqocxoq, jgr

QOYPJ iljbmy jllodok ar Mq' Juduy{bg jqo ug{bmolr ugkoq :1 _'Y'I' ¤ 18:;'

:;'  Got Iog{uqr kbk gc{ xbclj{o {eo Hokoqjl [qu{e bg Logkbgd Ji{ %:? _'Y'I' ¤ :80:

o{ yoz'" cq {eo Ozujl Iqokb{ Cppcq{ugb{r Ji{ %:? _'Y'I' ¤ :82: o{ yoz'"' Mq' Juduy{bg ejy mjko

gc jllodj{bcgy {ej{ y{j{o j iljbm ugkoq ob{eoq ch {eoyo y{j{u{oy, gcq ejy eo pqcxog jgr xbclj{bcgy ch 

ob{eoq y{j{u{o'

:?'  Got Iog{uqr kbk gc{ ogdjdo bg “hlbppbgd” cq “qoxoqyo qoklbgbgd” tb{e qoypoi{ {c

{eo GIMI Lcjg'

:8'  Mq' Juduy{bg ejy hjblok {c pqcxo jgr iljbmy jdjbgy{ Got Iog{uqr' Jgr ejqm {c

{eo Acqqctoqy tjy j qoyul{ ch {eobq ctg mbyicgkui{' Jiicqkbgdlr, Got Iog{uqr ejy gc lbjablb{r

hcq jgr kjmjdoy'

B[ BY EOQOAR CQKOQOK [EJ[>

:'  [eo qolboh ycude{ bg {eo Obde{oog{e Cmgbauy Canoi{bcg jy {c {eo Pqcch ch Iljbm by

dqjg{ok' [eo Pqcch ch Iljbm by eoqoar kbyjllctok jgk opugdok'

Kj{ok> SSSSSSSSSSSSSSSSSS

[eo Ecgcqjalo Foxbg N' IjqorIeboh _gb{ok Y{j{oy Ajgfqup{ir Nukdo