securities and exchange commission v. alcatel-lucent, s.a (sobornos hondutel)

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  • 8/8/2019 SECURITIES AND EXCHANGE COMMISSION v. ALCATEL-LUCENT, S.A (Sobornos HONDUTEL)

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    XID]HM P]L]HP MDP]UD@] @AXU]OAU ]JH PAX]JHUIMDP]UD@] AO OKAUDML

    @LPH IA)6

    PH@XUD]DHP LIM HZ@JLIGH@ACCDPPDAI+Rkldi}doo+

    v)LK@L]HK#KX@HI]+ P)L)+

    Mhohimli})

    @ACRKLDI]

    Rkldi}dooPh`xud}dhp lim Hz`jligh @accdppdai lkkhghp lp oakkawp6D) PXCCLUT

  • 8/8/2019 SECURITIES AND EXCHANGE COMMISSION v. ALCATEL-LUCENT, S.A (Sobornos HONDUTEL)

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    Ouac Mh`hcehu 522< }a A`}aehu 522=+ Lk`l}hk 'p lghi}p lim!au pxepdmdludhp rldm l} khlp}-7 cdkkdai di eudehp }a gavhuichi} aood`dlkp ao @ap}l Ud`l }a ae}ldi au uh}ldi }juhh`ai}ul`}p }a ruavdmh }hkhrjaih phuvd`hp di @ap}l Ud`l }a}lkdig lrruazdcl}hkt -020cdkkdai)

    Ouac Mh`hcehu 5225 }a Fxih 522?+ Lk`l}hk 'p lghi}p lim!au pxepdmdludhp rldm eudehp }agavhuichi} aood dlkp ao Jaimxulp }a ae}ldi au uh}ldi odvh }hkh`accxid`l}daip `ai}ul`}p}a}lkdig lrruazdcl}hkt -=: cdkkdai)[

    Ouac A`}aehu 5220 }a Clt 522=+ Lk`l}hk'p lghi}p lim!au pxepdmdludhp rldm eudehp }a

    gavhuichi} aood dlkp ao ]ldwli }a ae}ldi au uh}ldi l uldkwlt lzkh `axi}dig `ai}ul`}vlkxhm l} lrruazdcl}hkt -57 cdkkdai)

    Ouac A`}aehu 522= }a Oheuxlut 522?+ Lk`l}hk'p lghi}p lim!au pxepdmdludhp rldm eudehp }agavhuichi} aood`dlkp ao Clkltpdl }a ae}ldi au uh}ldi l }hkh`accxid l}daip `ai}ul`}vlkxhm l} lrruazdcl}hkt -:8 cdkkdai)0) Lkk ao }jhph rltchi}p whuh xima`xchi}hm au dcruarhukt uh`aumhm lp `aipxk}dig

    ohhp di }jh eaanp ao Lk`l}hk 'p pxepdmdludhp+ lim }jhi `aipakdml}hm di}a Lk`l}hk 'p odili`dlkp}l}hchi}p) L klz `auraul}h `ai}uak hivduaichi} ldmhm Lk`l}hk 'p dcruarhu `aimx`}) Lk`l}hkoldkhm }a mh}h`} au divhp}dgl}h ixchuaxp uhm oklgp pxgghp}dig }jl} d}p expdihpp `aipxk}li}p whuhkdnhkt clndig dkkd d} rltchi}p lim gdo}p }a gavhuichi} aood dlkp di }jhph `axi}udhp l} }jh mduh`}daiao `hu}ldi Lk`l}hk hcrkathhp) ]jh uhprh`}dvh jhlmp ao phvhulk Lk`l}hk pxepdmdludhp limghagulrjd`lk uhgdaip+ pach ao wjac uhrau}hm mduh`}kt }a Lk`l}hk'p hzh`x}dvh `accd}}hh+lx}jaudhm hz}uhchkt jdgj `accdppdai rltchi}p ximhu `du xcp}li`hp di wjd`j }jht oldkhm }amh}hucdih wjh}jhu px`j rltchi}p whuh+ di rlu}+ }a eh oxiihkhm }a gavhuichi} aood`dlkp di

    5

    @lph

  • 8/8/2019 SECURITIES AND EXCHANGE COMMISSION v. ALCATEL-LUCENT, S.A (Sobornos HONDUTEL)

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    vdakl}dai ao }jh O@RL) ]jhph jdgj#khvhk hcrkathhp }jhuhoauh nihw+ au whuh phvhuhkt uh`nkhpp diia} niawdig+ }jl} Lk`l}hk rldm eudehp }a oauhdgi gavhuichi} aood dlkp)

    =) Et clndig }jhph rltchi}p+ Lk l}hk vdakl}hm }jh O@RL lp di`auraul}hm di}a }jhohmhulk ph`xud}dhp klwp lp Ph`}daip 02L+

  • 8/8/2019 SECURITIES AND EXCHANGE COMMISSION v. ALCATEL-LUCENT, S.A (Sobornos HONDUTEL)

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    }ulmhm ai }jh Ihw Taun P}a`n Hz`jligh *%ITPH%$) Lp px`j+ mxudig }jh }dch }jh uhkhvli}`aimx } a``xuuhm+ L

  • 8/8/2019 SECURITIES AND EXCHANGE COMMISSION v. ALCATEL-LUCENT, S.A (Sobornos HONDUTEL)

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    rhudam+ Lk`l}h< mh @ap}l Ud`l'p odili`dlk uhpxk}p whuh di`kxmhm di }jh `aipakdml}hm odili`dlkp}l}hchi}p }jl} Lk`l}hk odkhm wd}j }jh @accdppdai)

  • 8/8/2019 SECURITIES AND EXCHANGE COMMISSION v. ALCATEL-LUCENT, S.A (Sobornos HONDUTEL)

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    pxepdmdlut wd}j }jh `xp}achu `ai}ul`} *Lk`l}hk @D] oau cap} ao}jh lguhhchi}p }jl} luh uhohuhi`hmdi }jdp `acrkldi}$+ lim ao vludaxp ghagulrjd`lk uhgdaip lkk lrruavhm }jh uh}hi}dai ao }jh`aipxk}li}p)

  • 8/8/2019 SECURITIES AND EXCHANGE COMMISSION v. ALCATEL-LUCENT, S.A (Sobornos HONDUTEL)

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    P}limlum waxkm lx}jaudh }jhc) ]jh `ai}uakp Lk`l}hk jlm di rkl`h whuh dipxood dhi} }a ruhvhi}eudehut eh`lxph Lk`l}hkhcrkathhp hd}jhu mdpuhglumhm au `du`xcvhi}hm }jhc et ruavdmdigdi`acrkh}h lim dil``xul}h dioaucl}dai }a }japh divakvhm di }jh uhvdhw rua`hpp) Odilkkt+ lk}jaxgjLk l}hk jlm l udpn lpphppchi} `accd}}hh+ d} }trd`lkkt oa`xphm ai dppxhp }jl} whuh kdnhkt }a uhpxk}di `xp}achu klwpxd}p lim ia} ai eudehut au hz`hppdvh `accdppdaip }a expdihpp `aipxk}li}p)

    L) ]jh @ap}l Ud`l Eudehut P`jhch52) Ouac Mh`hcehu 522< }a A`}aehu 522=+ Lk`l}hk eudehm gavhuichi} aood`dlkp di

    @ap}l Ud`l }a ae}ldi }hkh`accxid`l}daip `ai}ul`}p vlkxhm l} lrruazdcl}hkt -020 cdkkdai)5

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    _lkvhumh lim Plrpddli jduhm }jh `aipxk}li}p di rlu} }a eudeh aood`dlkp di }jh gavhuichi} ao@ap}lUd`l di hz`jligh oau }hkh`accxid`l}daip `ai}ul`}p)

    50) _lkvhumh'p eua}jhu#di#klw awihm lim `ai}uakkhm @ap}l Ud`li @aipxk}li} L)Jawhvhu+ _lkvhumh di}hi}dailkkt acd}}hm }jdp ol`} ouac }jh `acrlit ruaodkh jh ruhrluhm limpxecd}}hm }a Lk`l}hk P}limlum) Lk`l}hk P}limlum oldkhm }a `aimx } lmh|xl}h mxh mdkdghi`h ai@ap}l Ud`li @aipxk}li} L lim+ }jhuhoauh+ ihvhu dmhi}dodhm d}p uhgdp}huhm pjluhjakmhup lim xk}dcl}hehihod`dlk awihu)

    5=) Di Iavhcehu 5222+ rudau }a l oauclk va}h et }jh D@H Ealum ao Mduh`}aup+Plrpddli lim _lkvhumh aoohuhm l eudeh }a li D@H mduh`}au *%D@H Mduh`}au L%$ }a eh rldm }juaxgj

    ) +@ap}l Ud`li @aipxk}li} L) Prh`dod`lkkt+ }jht aoohuhm jdc

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    5?) Ouac Clu`j 522< }a Clu`j 5220+ Lk`l}hk P}limlum+ ai ehjlko ao Lk`l}hk @D]+hzh`x}hm l} khlp} odvh `aipxk}dig lguhhchi}p wd}j @ap}l Ud`li @aipxk}li} L+ di wjd`j Lk`l}hk@D] ruacdphm }a rlt xr }a 4)78( ao}jh vlkxh ao lit `ai}ul`} d} lppdp}hm Lk`l}hk @D] di ae}ldidigwd}j }jh D@H # l cx`j jdgjhu `accdppdai ul}h }jli iauclkkt lwlumhm }a px`j l `aipxk}li}) Diuh}xui+ }jh `aipxk}dig lguhhchi}p uh|xduhm @ap}l Ud`li @aipxk}li} L }a rhuoauc vlgxhkt#mhp`udehm clunh}dig lim lmvdpaut phuvd`hp) @ap}l Ud`li @aipxk}li} L `uhl}hm divad`hprxurau}hmkt oau `accdppdaip uhkl}hm }a }jh `ai}ul`}p lwlumhm }a Lk l}hk @D]) D} }jhi pxecd}}hm}japh divad`hp+ }juaxgj _lkvhumh+ }a Lk l}hk @D])

    57) P}lu}dig di Mh`hcehu 522

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    Ruhpdmhi}dlk @limdml}h -

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    0

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    0?) Di Oheuxlut 5225+ di Nht Edp`ltih+ Okaudml+ Plrpddli lim lia}jhu Lk l}hk @D]hcrkathh ch} wd}j }jh eua}jhu ao l jdgj#ulindig hzh`x}dvh euli`j aood`dlk di }jh gavhuichi} aoJaimxulp }a mdp`xpp jaw }jh eua}jhup lim Lk`l}hk `axkm lppdp} hl`j a}jhu) Plrpddli rlu}d`drl}hmdi }jdp chh}dig }a clnh pxuh }jh eua}jhup ximhup}aam }jl} Lk`l}hk'p xrrhu clilghchi} di Ouli`hpxrrau}hm lit ruacdph clmh }a }jhc) ]jh hzh`x}dvh euli`j aood`dlk'p eua}jhu uh|xhp}hm }jl}Lk`l}hk uh}ldi l prh`dod` `aipxk}dig `acrlit di Jaimxulp *%Jaimxuli @aipxk}li}%$)

    07) Kl}hu di 5225+ Lk`l}hk @D] dioauclkkt uh}ldihm }jh Jaimxuli @aipxk}li} limruacdphm }a rlt d} `accdppdaip ao 0( }a 8( ao }jh vlkxh ao `hu}ldi `ai}ul`}p Lk l}hk @D]

    ph`xuhm di Jaimxulp) ]jh Jaimxuli'@aipxk}li} uhruhphi}hm rhuoxch lim `apch}d`p `acrlidhpdi Jaimxulp lim arhul}hm lp li hz`kxpdvh mdp}udex}au ao eulim ilch oulguli`hp) ]jh Jaimxuli@aipxk}li} jlm ia `ai}l`}p di+ au rudau hzrhudhi`h wd}j+ }jh }hkh`accxid`l}daip dimxp}ut diJaimxulp) ]jh hzh`x}dvh euli`j aood`dlk'p eua}jhu `ai}uakkhm }jh Jaimxuli @aipxk}li} limLk`l}hk @D]'p pakh rxuraph oau uh}ldidig }jdp `aipxk}li} wlp }a gldi l``hpp }a }jh jdgj#ulindighzh`x}dvh euli`j aood`dlk lim diokxhi`h }jh mh`dpdaip ao }jh Hcruhpl Jaimxuhodl mh]hkh`acxid l`daihp *%Jaimx}hk%$+ }jh Jaimxuli gavhuichi}#awihm }hkh`accxid`l}daipruavdmhu uhpraipdekh oau lwlumdig lim lmcdidp}hudig rxekd` }himhup oau }hkh`accxid`l}daip`ai}ul`}p di Jaimxulp)

    0:) Lp l uhpxk} ao Lk`l}hk 'p lguhhchi} }a uh}ldi lim rlt }jh Jaimxuli @aipxk}li}+}jhuh wlp pdgidod`li} ruhppxuh ai Jaimx}hk+ lim ai }jh phidau gavhuichi} aood`dlkp pd}}dig ai d}pEalum aoMduh`}aup+ }a nhhr Lk`l}hk @D] lim lia}jhu Lk`l}hk pxepdmdlut lp }jh `ai}ul`}aup ai odvh`ai}ul`}p wjd`j whuh lwlumhm ouac 5225 }juaxgj 5220+ wau}j l }a}lk ao leax} -=: cdkkdai+ diprd}h ao pdgidod`li} oldkxuhp di rhuoaucli`h }jl} `axkm jlvh uhpxk}hm di }hucdil}dai ximhu }jh}hucp ao }jh lguhhchi}) ]jhph `ai}ul }p di kxmhm l -5)0? cdkkdai `ai}ul`} pdgihm ai Iavhcehu

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    l - l -5)=4 cdkkdai `ai}ul`} pdgihm ai Mh`hcehu ?+ 5220+ lim l -

  • 8/8/2019 SECURITIES AND EXCHANGE COMMISSION v. ALCATEL-LUCENT, S.A (Sobornos HONDUTEL)

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    =

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    @) ]jh ]ldwli Eudehut P`jhch==) Ouac A`}aehu 5220 }a Clt 522=+ Lk`l}hk eudehm gavhuichi} aood`dlkp di ]ldwli

    }a ae}ldi l uldkwlt lzkh `axi}dig `ai}ul`} vlkxhm l} lrruazdcl}hkt -57 cdkkdai)=8) L phidau Lk`l}hk hcrkathh+ l} }jh }dch Mduh`}au ao Di}huil}dailk Expdihpp lim

    Plkhp l} L

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    =:) Di Clt 522=+ Lk`l}hk PHK rldm l `accdppdai ao lrruazdcl}hkt -452+222 }a]ldwlihph @aipxk}li} L }juaxgj d}p l``axi} l} LEI Lcua Elin di Ihw Taun) L} vludaxp}dchp+ ]ldwlihph @aipxk}li} L rldm eudehp }a }wa ]ldwlihph khgdpkl}aup+ Khgdpkl}au L limKhgdpkl}au E)

    =4) Khgdpkl}au L lppdp}hm Lk`l}hk di `aivdi`dig }jh ]UL }jl} Lk`l}hk PHK'p ptp}hcpl}dpodhm }jh }h`jid lk uh|xduhchi}p ao }jh }himhup) Jh lkpa rxekd`kt pxrrau}hm Lk`l}hk PHK'p edmlim ruavdmhm lmvd`h }a Lk`l}hk PHK `ai`huidig d}p ]UL ma`xchi}p) Khgdpkl}au E+ di }xc+ wlpuh|xhp}hm }a lk}hu }jh ]UL'p }h`jid`lk prh`dod`l}daip }a dcruavh Lk l}hk PHK'p edmmdig `jli`hp)Lk}jaxgj d} dp xi`khlu jaw cx`j ao Lk l}hk PHK'p -452+222 hvhi}xlkkt okawhm }a oauhdgigavhuichi} aood`dlkp+ }jh awihu ao ]ldwlihph @aipxk}li} L ruacdphm -

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    `aipxk}dig lguhhchi} eh}whhi li Lk`l}hk loodkdl}h lim ]ldwlihph @aipxk}li} E+ hvhi }jaxgj]ldwlihph @aipxk}li} E wlp ihvhu hzrh`}hm }a ruavdmh lit phuvd`hp }a Lk`l}hk au d}p loodkdl}h)Li Lk`l}hk loodkdl}h rldm lrruazdcl}hkt -0?+222 }a ]ldwlihph @aipxk}li} E di 522=)

    85) Khgdpkl}aup L+ E+ lim @ whuh %oauhdgi aood`dlkp% wd}jdi }jh chlidig ao }jh O@RLlim whuh di l pdgidod`li} rapd}dai }a diokxhi`h }jh rakd`t mh`dpdaip }jh ]ULclmh)

    80) ]jh ohhp Lk`l}hk PHK lim Lk`l}hk'p loodkdl}h rldm }a ]ldwlihph @aipxk}li} L lim]ldwlihph @aipxk}li} E+ uhprh }dvhkt+ eauh ia uhkl}dai }a l }xlk phuvd`hp }jhph hi}d}dhp ruavdmhm}a Lk`l}hk)

    8=) Ai Mh`hcehu 02+ 5220+ }jh ]UL l``hr}hm li Lk`l}hk loodkdl}h'p rud`h edm limguli}hm }jh loodkdl}h l pxrrkt `ai}ul`} wau}j lrruazdcl}hkt -57 cdkkdai)

    M) ]jhClkltpdl Eudehut P`jhch88) Ouac A`}aehu 522= }a Oheuxlut 522?+ Lk`l}hk eudehm gavhuichi} aood`dlkp di

    Clkltpdl }a ae}ldi `aiodmhi}dlk dioaucl}dai uhkl}dig }a l rxekd` }himhu }jl} Lk`l}hk xk}dcl}hktwai+ }jh uhpxk} ao wjd`j tdhkmhm l }hkh`accxid`l}daip `ai}ul`} vlkxhm l} lrruazdcl}hkt -:8cdkkdai)

    8?) ]hkhnac Clkltpdl dp }jh Clkltpdli gavhuichi}#awihm }hkh`accxid`l}daip`acrlit }jl} ruavdmhp }hkh`accxid`l}daip phuvD`hp+ hvlkxl}hp edmp+ lim lwlump}hkh`accxid`l}daip `ai}ul`}p DD D Clkltpdl) ]jh Clkltpdli Cdidp}ut ao Odili`h awihmlrruazdcl}hkt =0( ao ]hkhnac Clkltpdl'p pjluhp+ jlm vh}a rawhu avhu lkk d}p clfauhzrhimd}xuhp+ lim clmh d}p nht arhul}dailk mh`dpdaip) ]jh gavhuichi} awihm d}p di}huhp} di]hkhnac Clkltpdl }juaxgj }jh Cdidp}hu ao Odili`h+ wja jlm }jh p}l}xp ao l %prh`dlkpjluhjakmhu)% Cap} phidau ]hkhnac Clkltpdl aood hup whuh rakd}d`lk lrradi}hhp+ di`kxmdig }jh

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    @jldiili lim Mduh`}au+ }jh @jldiili ao }jh Ealum ao }jh ]himhu @accd}}hh+ lim }jh Hzh`x}dvhMduh`}au)

    87) Eh}whhi A`}aehu 522= lim Oheuxlut 522?+ Lk`l}hk Clkltpdl rhupaiihk rldmeudehp }a hcrkathhp ao ]hkhnac Clkltpdl di hz`jligh oau iai#rxekd` dioaiil}dai) ]jdp iairxekd` dioaiil}dai di`kxmhm dcrau}li} ma`xchi}p lim exmgh} dioaiil}dai uhkl}dig }a aigadigedmp lim `acrh}d}au rud dig dioaiil}dai) Lk l}hk Clkltpdl'p clilghchi} `aiphi}hm }a }jhphrltchi}p)

    8:) ]jhph eudehp lppdp}hm Lk l}hk Clkltpdl di ae}ldidig l `ai}ul`} wd}j l ra}hi}dlkvlkxh ao-:8 cdkkdai)

    84) ]jh ]hkhnac Clkltpdl hcrkathhp wja uh`hdvhm eudehp whuh %oauhdgi aood`dlkp%wd}jdi }jh chlidig ao }jh O@RL lim whuh di l pdgidod`li} rapd}dai }a diokxhi`h }jh rakd`tmh dpdaip ]hkhnacClkltpdl clmh)

    ?2) Lk`l}hk P}limlum lkpa clmh pdgidod`li} kxcr#pxc rltchi}p }juaxgj X)P) elinl``axi}p }a }wa `aipxk}li}p *%Clkltpdli @aipxk}li} L% lim %Clkltpdli @aipxk}li} E%$+rxurau}hmkt oau clunh} uhphlu j)

    ?

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    ?0) ]jhph `aipxk}li}p lkpa waunhm oau L pdgidig au lrruavdig pjlc `aipxk}dig lguhhchi}p di }jhXid}hm P}l}hp }a `ai`hlk }jh eudehut p`jhch> lim }ulipcd}}dig cldk+ hkh`}uaid` cldk+ lim ol`pdcdkhchpplghp di lim ax} ao}jh Xid}hm P}l}hp)

    O) Lk`l}hk Oldkhm }a Cldi}ldi D}p Eaanp lim Uh`aump?8) Lk`l}hk clmh ixchuaxp rltchi}p }a }jdum rlu}dhp D D D wltp }jl} aep`xuhm }jh

    rxuraph oau+ lim }jh xk}dcl}h uh`drdhi}p ao+ }jh rltchi}p) Di rlu}d`xklu+ L

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    dil``xul}hkt mhp`udehm }jh phuvD`hp ruavdmhm> *=$ ghihul}dig olkph divad`hp lim a}jhu olkphma`xchi}p }a fxp}dot rltchi}p> *8$ mdpexupdig oximp di `lpj wd}j dil``xul}h ma`xchi}l}dailx}jauddig au pxrrau}dig }jh wd}jmulwlkp> *?$ uh`aumdig dkkd`d} rltchi}p lp khgd}dcl}h `aipxk}digohhp> lim *7$ uh`aumdig eudehp lp rltchi} oau khgd}dcl}h phuvd`hp)

    G) Lk`l}hk Oldkhm }a Cldi}ldi Lmh|xl}h Di}huilk @ai}uakp??) Lk`l}hk oldkhm }a dcrkhchi} lmh|xl}h di}huilk `ai}uakp }a `acrkt wd}j }jh

    `acrlit'p ITPH kdp}dig+ di`kxmdig }jh mh}h`}dai lim ruhvhi}dai ao vdakl}daip ao }jh O@RL)Odup}+ Lk`l}hk lim!au d}p pxepdmdludhp olkpdodhm eaanp lim uh`aump+ hi}huhm di}a lguhhchi}p

    uh}ual`}dvhkt+ lim aep`xuhm }jh rxuraph oau+ lim xk}dcl}h uh`drdhi} ao+ dkkd`d} rltchi}p) Lk l}hkxphm expdihpp `aipxk}li}p lim di}huchmdludhp }a oxiihk eudehp di l} khlp} oaxu `axi}udhp) Lk l}hk`uhl}hm lim xphm olkph divad`hp lim rltchi} ma`xchi}l}dai ximhu expdihpp `aipxk}diglguhhchi}p }jl} mhp udehm phuvd`hp }jl} whuh ihvhu di}himhm }a eh uhimhuhm) Dkk d d} rltchi}pwhuh olkphkt uh`aumhm lp hzrhiphp oau `aipxk}dig ohhp)

    ?7) Ph`aim+ Lk`l}h< lkpa uax}dihkt `du`xcvhi}hm }jh di}huilk `ai}uakp }jh `acrlitjlm di rkl`h) Lk}jaxgj }jh `acrlit di }jhaut jlm l rakd`t ao %`jh`np lim elkli`hp% }alx}jaudh }jh uh}hi}dai ao expdihpp `aipxk}li}p+ wjd`j uh|xduhm phvhulk pdgil}xuhp }a lrruavh }jhuh}hi}dai ao+ lim rltchi} }a+ expdihpp `aipxk}li}p+ Lk`l}hk hcrkathhp ao}hi vdakl}hm }jl} rakd`t)Di ixchuaxp dip}li`hp+ Lk`l}hk aood dlkp uhpraipdekh oau uhvdhwdig mxh mdkdghi`h uhrau}p ai`aipxk}li}p oldkhm }a `aimx`} lit uhvdhw ao }jh ma`xchi}p au `axkm ia} uhlm }jh kligxlgh diwjd`j }jh ma`xchi}p whuh wud}}hi) Lk`l}hk hcrkathhp lkpa hi}huhm di}a lguhhchi}p uh}ual`}dvhktlim aep`xuhm }jh lcaxi}p rldm }a expdihpp `aipxk}li}p et prkd}}dig }jh rltchi}p lcaig phrlul}hlguhhchi}p *}a `ai`hlk }jh jdgj `accdppdaip Lk`l}h< rldm$) Odilkkt+ Lk`l}hk P}limlum'p mxhmdkdghi`h ai expdihpp `aipxk}li}p wlp dilmh|xl}h+ lim Lk`l}hk @D] ao}hi rldm expdihpp

    52

    @lph

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    `aipxk}li}p wd}jax} lmh|xl}h ruaao ao phuvd`hp uhimhuhm) Lk l}hk @D] oldkhm }a hp}lekdpj uaexp}`ai}uakp avhu `lpj mdpexuphchi}p+ lkkawhm clixlk rltchi}p wd}jax} ma`xchi}l}dai+ limLk`l}hk'p O@RL `acrkdli`h oxi }dai wlp ximhup}loohm lim kl`nhm dimhrhimhi`h) Lk l}hk lkpaoldkhm }a `aimx`} }jauaxgj li}d#eudehut lim `auuxr}dai }uldidig)

    @KLDCP OAU UHKDHOODUP] @AXI]

    _dakl}daip ao Ph`}dai 02L ao }jh Hz`jligh L`}?:) ]jh @accdppdai uhlkkhghp lim di`auraul}hp et uhohuhi`h Rlulgulrjp < }juaxgj

    ?7)?4) Lp mhp`udehm leavh+ Lk`l}hk+ }juaxgj d}p aood`hup+ lghi}p+ pxepdmdludhp+ lim

    loodkdl}hp+ `auuxr}kt aoohuhm+ ruacdphm }a rlt+ au lx}jaudhm dkkd`d} rltchi}p }a l rhupai+ wjdkhniawdig }jl} lkk au l rau}dai ao }japh rltchi}p waxkm eh aoohuhm+ gdvhi+ au ruacdphm+ mduh`}kt audimduh`}kt+ }a oauhdgi aood dlkp oau }jh rxuraphp ao diokxhi`dig }jhdu l`}p au mh`dpdaip di }jhduaood`dlk `lrl`d}t+ dimx`dig }jhc }a ma au acd} }a ma l }daip di vdakl}dai ao }jhdu klwoxk mx}dhp+ph`xudig li dcruarhu lmvli}lgh+ au dimx`dig px`j oauhdgi aood`dlkp }a xph }jhdu diokxhi`h wd}j loauhdgi gavhuichi} au dip}uxchi}lkd}t }jhuhao }a lppdp} Lk`l}hk di ae}ldidig au uh}ldidig expdihpp)

    72) Et uhlpai ao }jh oauhgadig+ Lk l}hk vdakl}hm }jh li}d#eudehut ruavdpdaip ao }jhO@RL+ lp `amdodhm l} Ph`}dai 02L ao}jh Hz`jligh L`} ^

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    75) Lp mhp`udehm leavh+ Lk`l}hk+ }juaxgj d}p aood`hup+ lghi}p+ pxepdmdludhp+ limloodkdl}hp+ oldkhm }a clnh lim nhhr eaanp+ uh`aump+ lim l``axi}p wjd`j+ di uhlpailekh mh}ldk+l``xul}hkt lim oldukt uhokh }hm d}p }ulipl`}daip lim mdprapd}daip ao d}p lpph}p)

    70) Et uhlpai ao }jh oauhgadig+ Lk`l}hk vdakl}hm }jh eaanp#lim#uh`aump ruavdpdaip ao}jh O@RL+ lp `amdodhm l} Ph`}dai

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    OAXU]J @AXI]_dakl}daip ao Ph`}dai

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    Ml}hm6 Mh`hcehuX+ 52