The opinion of the court was delivered by: LEWIS KAPLAN, District Judge
Plaintiff brings this action under the Securities Exchange Act of
1934, 15 U.S.C. § 78a et seq. (the "Exchange Act"), and on a
number of state law theories principally against Bashar Omar. She seeks a
temporary restraining order and a preliminary injunction freezing certain
assets, requiring defendants to account to the Court monthly for all of
their revenues and expenses and to make a full disclosure of their
assets, and enjoining defendants from secreting or altering certain
business records and from filing bankruptcy on behalf of any of the
For the reasons stated on the record in open court, the motion for a
temporary restraining order is granted to the extent that defendant
Bashar Omar be, and he hereby is, enjoined and restraining, pending the
hearing and determination of plaintiff's motion for a preliminary
1. Selling, pledging, transferring, assigning, mortgaging, or
encumbering any of the stock of 93 University Place Corp., 2493 Broadway
Corp. and/or 489 Broome Street Corp. (the "Corporate Defendants").
2. Electing or removing any officer or director of any of the Corporate
3. Selling, pledging, transferring, assigning, mortgaging, or
encumbering any of the assets of any of the Corporate Defendants,
provided, however, that nothing herein shall prevent
Omar from (a) selling inventory and (b) paying regular operating
expenses of Corporate Defendants, in each case in the regular course of
4. Absent prior written order of the Court, causing or permitting any
of the Corporate Defendants to incur any obligations except in the
regular course of business.
5. Altering, destroying, hiding, secreting or otherwise changing or
disposing of any records (whether in document or electronic or other
form) of or relating to any of the Corporate Defendants, any business
heretofore or hereafter operated by them, or plaintiff.
The Court will commence a preliminary injunction hearing on January 15,
2004 at 2 p.m. in Courtroom 12D.
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