Temporary Order: In the Matter of Systematech Solutions Inc. et al.

Order
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IN THE MATTER OF THE SECURITIES ACT,
R.S.O. 1990, c. S.5 AS AMENDED

- AND -

SYSTEMATECH SOLUTIONS INC., APRIL VUONG
and HAO QUACH

TEMPORARY ORDER
(Subsections 127(1), (7) & (8) of the Act)

 

 

    WHEREAS on December 15, 2011, the Ontario Securities Commission (the “Commission”) issued a temporary cease trade order (the “Temporary Order”) pursuant to subsections 127(1) and 127(5) of the Securities Act, R.S.O. 1990, c. S.5, as amended (the “Act”) with respect to Systematech Solutions Inc., (“Systematech”), April Vuong (“Vuong”) and Hao Quach (“Quach”) (collectively, the “Respondents”), ordering that:

 

 

  1. pursuant to clause 2 of subsection 127(1) of the Act that all trading in securities by the Respondents shall cease; and
  2. pursuant to clause 2 of subsection 127(1) of the Act that all trading in securities of Systematech shall cease;

    AND WHEREAS on December 22, 2011, the Commission extended the Temporary Order to January 31, 2012 and adjourned the hearing to consider the extension of the Temporary Order to January 30, 2012;

    AND WHEREAS on January 30, 2012, the Commission extended the Temporary Order to March 8, 2012, on consent of all the parties, and adjourned the hearing to consider the extension of the Temporary Order to March 7, 2012;

    AND WHEREAS on March 8, 2012, the Commission extended the Temporary Order to June 8, 2012, on consent of all the parties and adjourned the hearing to consider the extension of the Temporary Order to June 7, 2012;

    AND WHEREAS on June 7, 2012, Staff of the Commission (“Staff”) appeared before the Commission and made submissions;

    AND WHEREAS counsel for Vuong and Systematech sent correspondence advising that his clients consented to the extension of the Temporary Order and advising that he was informed that Quach also consented to the extension of the Temporary Order;

    AND WHEREAS the investigation by Staff into alleged violations of the Act by the Respondents is ongoing;

    AND WHEREAS Staff informed the Panel that additional information has been obtained by or provided to Staff in the course of its investigation, which has reinforced Staff's concern for the public interest to extend the Temporary Order;

    AND WHEREAS the Commission is of the opinion that it is in the public interest to extend the Temporary Order;

    IT IS ORDERED that the Temporary Order is extended until September 12, 2012;

    IT IS FURTHER ORDERED that the hearing to consider the extension of the Temporary Order is adjourned until September 11, 2012 at 3:00 p.m. or to such other date or time as set by the Office of the Secretary and agreed to by the parties.

    DATED at Toronto this 7th day of June, 2012.

 

" Edward P. Kerwin "
Edward P. Kerwin