Order: In the Matter of Majestic Supply Co. Inc. et al.
IN THE MATTER OF THE SECURITIES ACT,
R.S.O. 1990, c. S.5 AS AMENDED
- and -
IN THE MATTER OF
MAJESTIC SUPPLY CO. INC.,
SUNCASTLE DEVELOPMENTS CORPORATION,
HERBERT ADAMS, STEVE BISHOP,
MARY KRICFALUSI, KEVIN LOMAN AND
CBK ENTERPRISES INC.
ORDER
(Section 127)
WHEREAS on October 20, 2010, the Ontario Securities Commission (the “Commission”) issued a Notice of Hearing pursuant to section 127 of the Securities Act, R.S.O. c. S.5, as amended, accompanied by the Statement of Allegations dated October 20, 2010 filed by Staff of the Commission (“Staff”) with respect to Majestic Supply Co. Inc. (“Majestic”), Suncastle Developments Corporation (“Suncastle”), Herbert Adams (“Adams”), Steve Bishop (“Bishop”), Mary Kricfalusi (“Kricfalusi”), Kevin Loman (“Loman”) and CBK Enterprises Inc. (“CBK”) collectively referred to as the “Respondents”;
WHEREAS the Notice of Hearing set a hearing in this matter for November 23, 2010 at 2:30 p.m.;
AND WHEREAS on November 23, 2010, counsel for Adams and Suncastle, counsel for Kricfalusi and CBK, counsel for Loman, Rob Biegerl as former president of Majestic and Bishop on his own behalf and as the current president of Majestic, all attended the hearing;
AND WHEREAS Staff and counsel for Adams have advised that on October 12, 2010, Adams was charged by the Halton Regional Police Service with four counts of fraud over $5,000 relating to his involvement with Majestic and Suncastle and has retained criminal counsel to represent him in the criminal proceedings;
AND WHEREAS counsel for Adams has requested that criminal counsel for Adams be permitted to review Staff’s electronic disclosure for the purpose of permitting Adams to make full answer and defence in the criminal proceedings (the “Adams’ Disclosure Request”);
AND WHEREAS on November 23, 2010, the Commission ordered: (i) the hearing adjourned to January 25, 2011; and (ii) limits on the use of Staff’s electronic disclosure;
AND WHEREAS Staff has advised that Staff’s electronic disclosure was provided to the parties on December 9, 2010;
AND WHEREAS counsel for Adams and Suncastle and counsel for Kricfalusi and CBK have delivered demands for further particulars relating to both the Statement of Allegations and Staff’s electronic disclosure and have requested an adjournment to determine whether any preliminary motions are required;
AND WHEREAS Staff, counsel for Adams and Suncastle, counsel for Kricfalusi and CBK, counsel for Loman and Steve Bishop on behalf of Majestic and himself consent to the adjournment of the hearing to a pre-hearing conference on March 1, 2011 at 2:00 p.m.;
AND WHEREAS the Commission is of the opinion that it is in the public interest to make this Order;
IT IS ORDERED that the matter is adjourned to a pre-hearing conference on March 1, 2011 at 2:00 p.m.
DATED at Toronto, this 25th day of January, 2011.