Notice of Hearing: In the Matter of Lehman Cohort Global Group Inc. et al.

        WHEREAS on May 20, 2009, the Ontario Securities Commission (the "Commission") issued a temporary order pursuant to sections 127(1) and 127(5) of the Securities Act, R.S.O. 1990, c. S.5, as amended (the "Act") which ordered the following:

1. Lehman Cohort Global Group Inc. (“Lehman”), Anton Schnedl (“Schnedl”), Richard Unzer (“Unzer”), Alexander Grundmann (“Grundmann”) and Henry Hehlsinger (“Hehlsinger”), (collectively the “Respondents”), cease trading in all securities immediately;
2. that any exemptions contained in Ontario securities law do not apply to Lehman or its agents or employees; and
3. that any exemptions contained in Ontario securities law do not apply to the Respondents.

        AND WHEREAS¸ following hearings held on June 1, 2009 and July 21, 2009, the Commission ordered that the temporary cease trade order against the Respondents be extended until August 20, 2009.

        TAKE NOTICE THAT the Commission will hold a hearing pursuant to sections 127 and 127.1 of the Act at the offices of the Commission, 20 Queen Street West, 17th Floor, commencing on August 19, 2009 at 10:00 a.m., or as soon thereafter as the hearing can be held.

        AND TAKE NOTICE

1. pursuant to clause 2 of subsection 127(1), trading in any securities by the Respondents cease permanently or for such other period as specified by the Commission;
2. pursuant to clause 3 of subsection 127(1), any exemptions contained in Ontario securities law do not apply to the Respondents permanently or for such other period as specified by the Commission;
3. pursuant to clause 6 of subsection 127(1), the Respondents be reprimanded;
4. pursuant to clause 8 of subsection 127(1), Schnedl, Uzner, Grundmann and Hehlsinger be prohibited from becoming or acting as a director or officer of any issuer;
5. pursuant to clause 8.2 of subsection 127(1), Schnedl, Uzner, Grundmann and Hehlsinger be prohibited from becoming or acting as a director or officer of a registrant;
6. pursuant to clause 8.4 of subsection 127(1), Schnedl, Uzner, Grundmann and Hehlsinger be prohibited from becoming or acting as a director or officer of an investment fund manager;
7. pursuant to clause 8.5 of subsection 127(1), Schnedl, Uzner, Grundmann and Hehlsinger be prohibited from becoming or acting as a registrant, as an investment fund manager or as a promoter;
8. pursuant to clause 9 of subsection 127(1), the Respondents pay an administrative penalty of not more than $1 million for each failure to comply with Ontario securities law to the Commission;
9. pursuant to clause 10 of subsection 127(1), the Respondents disgorge to the Commission any amounts obtained as a result of non-compliance with Ontario securities law;
10. pursuant to section 127.1, the Respondents pay the costs of the investigation and the costs of or related to the hearing incurred by or on behalf of the Commission; and
11. such other order as the Commission may consider appropriate.

        BY REASON OF the allegations set out in the Statement of Allegations of Staff dated August 14, 2009, and such additional allegations as counsel may advise and the Commission may permit.

        AND FURTHER TAKE NOTICE that the Respondents may each be represented by counsel if that Respondent attends or submits evidence at the hearing.

        AND TAKE FURTHER NOTICE that upon failure of any Respondent to attend at the Hearing

        AND TAKE FURTHER NOTICE that if any Respondent fails to attend at the time and place set out in this Notice, the hearing may proceed in the absence of that Respondent and such Respondent is not entitled to any further notice of the proceeding.



Dated at Toronto on this “14^th” day of August, 2009