Change in Bank Control Notices; Acquisitions of Shares of a Bank or Bank Holding Company, 38178 [2011-16253]
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38178
Federal Register / Vol. 76, No. 125 / Wednesday, June 29, 2011 / Notices
application. Pursuant to such request,2
this Order directs Respondents Falcon
Shipping, Inc. and Mr. Abdiel Falcon,
its qualifying individual, to show cause,
pursuant to 46 CFR 502.66, why the
BCL’s determination to deny the OTI
license application should not be
upheld inasmuch as Mr. Falcon was
convicted of a felony charge of unlawful
importation of goods in violation of 18
U.S.C. 545 and is still serving probation
on such conviction.
Section 19 of the Shipping Act of
1984, 46 U.S.C. 40901, provides that the
Commission shall issue an OTI license
to a person that the Commission
determines to be qualified by experience
and character. The Commission’s
regulations at 46 CFR 515.15 implement
the standards for licensing under
section 19, and state that:
mstockstill on DSK4VPTVN1PROD with NOTICES
If the Commission determines, as a result
of its investigation, that the applicant: (a)
Does not possess the necessary experience or
character to render intermediary services; (b)
Has failed to respond to any lawful inquiry
of the Commission; or (c) Has made any
materially false or misleading statement to
the Commission; then a letter of intent to
deny the application shall be sent to the
applicant * * *
The Commission’s regulations thus
require denial of an application for an
OTI license if the applicant does not
possess the necessary character to
render OTI services.
It is well established that the burden
of proof in a licensing proceeding is on
the applicant. Independent Ocean
Freight Forwarder Application—Lesco
Packing Co. Inc., 19 FMC 132, 136 (FMC
1976). The Commission has previously
found that commission of a federal
crime rises to the level of the ‘‘most
egregious circumstances’’ warranting
revocation or suspension (and, by
analogy, denial) of a license. In the
Matter of Ocean Transportation License
in the Name of Apparel Logistics, Inc.,
Petition for Appeal from Staff Action or
in the Alternative for Initiation of an
Investigation, 30 S.R.R. 567, 570 (FMC
2004) (‘‘Prior decisions have held that
revoking or suspending an OTI license
should be limited to the most egregious
circumstances, such as OTIs violating
the Shipping Act or Commission
regulations, committing other federal
offenses, or materially misrepresenting
information regarding their
qualifications.’’), citing Stallion Cargo,
Inc.—Possible Violations of Sections
10(a)(1) and 10 (b) (1) of the Shipping
Act of 1984, 29 S.R.R. 665, 683–84 (FMC
2001); AAA NordStar Line Inc.—
2 While transmitted only to BCL, Mr. Falcon’s email request is deemed sufficient under 46 CFR
515.15 to entitle Falcon Shipping to a hearing with
respect to his OTI application.
VerDate Mar<15>2010
17:48 Jun 28, 2011
Jkt 223001
Revocation of License No. 12234, 29
S.R.R. 663, 663–64 (FMC 2002);
Commonwealth Shipping Ltd., Cargo
Carriers Ltd., Martyn C. Merritt and
Mary Anne Merritt—Submission of
Materially False or Misleading
Statements to the Federal Maritime
Commission And False Representation
of Common Carrier Vessel Operations,
29 S.R.R. 1408, 1412–1414 (FMC 2003).
Now therefore, it is ordered That
pursuant to sections 11 and 19 of the
Shipping Act of 1984, Falcon Shipping,
Inc. and Abdiel Falcon are hereby
directed to show cause why the BCL’s
determination to deny the OTI license
application should not be upheld.
It is further ordered That this
proceeding is limited to the submission
of facts and memoranda of law;
It is further ordered That Falcon
Shipping, Inc. and Abdiel Falcon are
named as Respondents in this
proceeding. Affidavits of fact and
memoranda of law shall be filed by
Respondents in support of its
application no later than July 13, 2011;
It is further ordered That the
Commission’s Bureau of Enforcement is
made a party to this proceeding;
It is further ordered That reply
affidavits and memoranda of law shall
be filed by the Bureau of Enforcement
in opposition to Respondents no later
than July 28, 2011;
It is further ordered, That notice of
this Order be published in the Federal
Register, and a copy be served on
parties of record;
It is further ordered That all
documents submitted by any party of
record in this proceeding shall be filed
in accordance with Rule 2 of the
Commission’s Rules of Practice and
Procedure, 46 CFR 502.2, as well as
being mailed (or e-mailed) directly to all
parties of record;
Finally, it is ordered That pursuant to
the terms of Rule 61 of the
Commission’s Rules of Practice and
Procedure, 46 CFR 502.61, the final
decision of the Commission in this
proceeding shall be issued by December
23, 2011.
Control Act (12 U.S.C. 1817(j)) and
§ 225.41 of the Board’s Regulation Y
(12 CFR 225.41) to acquire shares of a
bank or bank holding company. The
factors that are considered in acting on
the notices are set forth in paragraph 7
of the Act (12 U.S.C. 1817(j)(7)).
The notices are available for
immediate inspection at the Federal
Reserve Bank indicated. The notices
also will be available for inspection at
the offices of the Board of Governors.
Interested persons may express their
views in writing to the Reserve Bank
indicated for that notice or to the offices
of the Board of Governors. Comments
must be received not later than July 13,
2011.
A. Federal Reserve Bank of New York
(Ivan Hurwitz, Vice President) 33
Liberty Street, New York, New York
10045–0001:
1. Thomas H. Lee (Alternative) Fund
VI, L.P., Thomas H. Lee (Alternative)
Parallel Fund VI, L.P., Thomas H. Lee
(Alternative) Parallel (DT) Fund VI, L.P.,
THL FBC Equity Investors, L.P., THL
Advisors (Alternative) VI, L.P., Thomas
H. Lee (Alternative) VI, Ltd., THL
Managers VI, LLC, Thomas H. Lee
Partners, L.P., Thomas H. Lee Advisors,
LLC, Anthony J. DiNovi and Scott M.
Sperling, all of Boston, Massachussetts;
to directly acquire 24.9 percent of the
voting common stock of First BanCorp,
and thereby indirectly acquire FirstBank
Puerto Rico, both of San Juan, Puerto
Rico.
By the Commission.
Karen V. Gregory,
Secretary.
The companies listed in this notice
have given notice under section 4 of the
Bank Holding Company Act (12 U.S.C.
1843) (BHC Act) and Regulation Y, (12
CFR Part 225) to engage de novo, or to
acquire or control voting securities or
assets of a company, including the
companies listed below, that engages
either directly or through a subsidiary or
other company, in a nonbanking activity
that is listed in § 225.28 of Regulation Y
(12 CFR 225.28) or that the Board has
determined by Order to be closely
related to banking and permissible for
bank holding companies. Unless
[FR Doc. 2011–16226 Filed 6–28–11; 8:45 am]
BILLING CODE 6730–01–P
FEDERAL RESERVE SYSTEM
Change in Bank Control Notices;
Acquisitions of Shares of a Bank or
Bank Holding Company
The notificants listed below have
applied under the Change in Bank
PO 00000
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Board of Governors of the Federal Reserve
System, June 24, 2011.
Robert deV. Frierson,
Deputy Secretary of the Board.
[FR Doc. 2011–16253 Filed 6–28–11; 8:45 am]
BILLING CODE 6210–01–P
FEDERAL RESERVE SYSTEM
Notice of Proposals To Engage in
Permissible Nonbanking Activities or
To Acquire Companies That Are
Engaged in Permissible Nonbanking
Activities
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[Federal Register Volume 76, Number 125 (Wednesday, June 29, 2011)]
[Notices]
[Page 38178]
From the Federal Register Online via the Government Printing Office [www.gpo.gov]
[FR Doc No: 2011-16253]
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FEDERAL RESERVE SYSTEM
Change in Bank Control Notices; Acquisitions of Shares of a Bank
or Bank Holding Company
The notificants listed below have applied under the Change in Bank
Control Act (12 U.S.C. 1817(j)) and Sec. 225.41 of the Board's
Regulation Y (12 CFR 225.41) to acquire shares of a bank or bank
holding company. The factors that are considered in acting on the
notices are set forth in paragraph 7 of the Act (12 U.S.C. 1817(j)(7)).
The notices are available for immediate inspection at the Federal
Reserve Bank indicated. The notices also will be available for
inspection at the offices of the Board of Governors. Interested persons
may express their views in writing to the Reserve Bank indicated for
that notice or to the offices of the Board of Governors. Comments must
be received not later than July 13, 2011.
A. Federal Reserve Bank of New York (Ivan Hurwitz, Vice President)
33 Liberty Street, New York, New York 10045-0001:
1. Thomas H. Lee (Alternative) Fund VI, L.P., Thomas H. Lee
(Alternative) Parallel Fund VI, L.P., Thomas H. Lee (Alternative)
Parallel (DT) Fund VI, L.P., THL FBC Equity Investors, L.P., THL
Advisors (Alternative) VI, L.P., Thomas H. Lee (Alternative) VI, Ltd.,
THL Managers VI, LLC, Thomas H. Lee Partners, L.P., Thomas H. Lee
Advisors, LLC, Anthony J. DiNovi and Scott M. Sperling, all of Boston,
Massachussetts; to directly acquire 24.9 percent of the voting common
stock of First BanCorp, and thereby indirectly acquire FirstBank Puerto
Rico, both of San Juan, Puerto Rico.
Board of Governors of the Federal Reserve System, June 24, 2011.
Robert deV. Frierson,
Deputy Secretary of the Board.
[FR Doc. 2011-16253 Filed 6-28-11; 8:45 am]
BILLING CODE 6210-01-P
