Commodity Futures Trading Comm. v. Battoo

Dist. Ct. did not err in denying request of certain Liquidators for modification of injunction that had been entered in Commodity Futures Trading Commission and SEC proceedings that essentially froze defendant’s assets after defendant had defaulted on claims that he had defrauded certain investors, where injunction had been entered to determine true ownership of defendant’s assets. While Liquidators argued that injunction should be modified so as to permit release of certain funds to Liquidators because defendant no longer had control over his assets, denial of modification request was appropriate, since there had been no final determination that Liquidators were true owners of said funds and no determination as to how losses would be distributed among claimants to defendant’s funds.