On August 8th, the Second Circuit affirmed the lifting of an asset freeze to allow the sale of a relief defendant's vacation home to preserve the value of the asset pending resolution of the merits of the action. In light of the securities laws and the trial court's broad equitable power to fashion ancillary relief when its jurisdiction under those laws has been involved, the magistrate judge did not abuse his discretion when he ordered the interlocutory liquidation of the house. In a related summary order, the court also affirmed the magistrate judge's rulings continuing an asset freeze as to a stock account owned by the relief defendant and as to the corpus of an irrevocable trust. Smith v. SEC.