UNITED STATES OF AMERICA
COMMODITY FUTURES TRADING COMMISSION
|JOSEF GEMEINDER||CFTC DOCKET NO. 95-R3|
|JOHN-EMMANUEL GARTMANN, GRANDVIEW||ORDER|
|HOLDINGS CORP. and J. MICHAEL KING|
On April 24, 1998, the Commission extended until June 8, 1998 the deadline for complainant to file the bond required of nonresident claimants. See Section 14(c) of the Commodity Exchange Act, 7 U.S.C. §18(c) (1994); see also Commission Rule 12.13(b)(3), 17 C.F.R. § 12.13(b) (1998). Prior to the expiration of that period, complainant requested a further nine-day extension until June 17, 1998, outlining the steps he had taken to obtain the bond and explaining that the process could not be completed until the next week.
On June 16, 1998, complainant requested an additional 12-day extension to file the bond, explaining that unforeseen difficulties concerning collateral had arisen, delaying the filing of the bond. On July 1, 1998, complainant requested a further delay until July 10, 1998, citing unforeseen difficulties and delays in obtaining the bond.
Notwithstanding those difficulties, we have determined that complainant has had sufficient time to file a bond. Complainant was apprised of his obligation to file a bond in a Commission order issued more than five months ago, on February 17, 1998, and given 60 days in which to act. The original April 18, 1998 deadline was extended at his request to June 8, 1998. The additional 32 days he requested have expired, and Gemeinder has not posted the bond.
Gemeinder has failed to comply with the statutory bond requirement, despite being given numerous opportunities to do so. Accordingly, his appeal is dismissed.
IT IS SO ORDERED. .
By the Commission (Chairperson BORN, and Commissioners TULL, HOLUM, SPEARS and NEWSOME).
Catherine D. Dixon
Assistant Secretary of the Commission
Commodity Futures Trading Commission
Dated: August 12, 1998