Smith v. Securities & Exchange Commission

POOLER, Circuit Judge:

Consolidated appeal from, inter alia, an order of the United States District Court for the Northern District of New York (Homer, M.J.) 1 lifting an asset freeze for the purpose of authorizing the interlocutory sale of a vacation home owned by relief-defendant Lynn A. Smith. The magistrate judge held in relevant part that the sale was necessary to preserve the value of the asset pending resolution of the merits of the action. We conclude that there was no error in this finding and hold that it was not an abuse of discretion to lift the asset freeze in order to authorize…