The managing director of Lines Overseas Management has managed to postpone his testimony before the US Securities and Exchange Commission after a US magistrate this week partially stayed his order requiring obedience with SEC subpoenas served on LOM and Scott Lines almost two years ago.

The subpoenas for documents, phone records as well as his Mr. Lines in person testimony are part of an SEC probe of possible fraud and manipulation involving Sedona Software Solutions and SHEP Technologies, including alleged possible misconduct by LOM, Mr. Lines and his brother, Brian.

LOM and the Lines brothers deny any wrongdoing, but challenged the subpoenas on jurisdictional and legal grounds.

Earlier this week, Mr. Lines said he would comply with the SEC order to testify, but asked to have the location for his testimony resettled outside of the US.

He offered to either pay for a video conference hook-up or for the usual travel and per diem costs for two SEC attorneys to travel to Bermuda or elsewhere.

Among his reasons for the request he cited ?reasonable concerns? that if he re-entered ?the US the SEC or the Justice Department may serve additional subpoenas on him, or take other action on a claim that he is a material witness.?

Mr. Lines was supposed give his deposition testimony at the SEC offices no later than March 13, however magistrate Judge Alan Kay has now stayed that portion of his order of obedience until a hearing addresses the matter of the location and method for taking Mr. Lines? testimony.

The stay will be effective until the ?motion to set testimony location? has been fully briefed and ruled upon by the Court.