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BURGESS v. OMAR

United States District Court, S.D. New York


January 14, 2004.

HELEN BURGESS, Plaintiff, -against- BASHAR OMAR, 93 UNIVERSITY PLACE CORP., 2493 BROADWAY CORP., and 489 BROOME STREET CORP., Defendants

The opinion of the court was delivered by: LEWIS KAPLAN, District Judge

ORDER

Plaintiff brings this action under the Securities Exchange Act of 1934, 15 U.S.C. ยง 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 corporate defendants.

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 injunction, from:

  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 Defendants.

  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 Page 2 Omar from (a) selling inventory and (b) paying regular operating expenses of Corporate Defendants, in each case in the regular course of business.

  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.

  SO ORDERED.

20040114

© 1992-2004 VersusLaw Inc.



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