Order: In the Matter of Sulja Bros. et al.

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


- AND -


IN THE MATTER OF
SULJA BROS. BUILDING SUPPLIES, LTD., PETAR VUCICEVICH, KORE
INTERNATIONAL MANAGEMENT INC., ANDREW DE VRIES, STEVEN SULJA,
PRANAB SHAH, TRACEY BANUMAS, and SAM SULJA


ORDER

WHEREAS on December 22, 2006, the Ontario Securities Commission (the “Commission”) ordered pursuant to subsections 127(1) and 127(5) of the Securities Act, R.S.O. 1990, c. S.5, as amended (the “Act”) that immediately for a period of 15 days from the date thereof: (a) all trading in securities of Sulja Bros. Building Supplies, Ltd. (“Sulja Nevada”) cease; and (b) any exemptions in Ontario securities law do not apply to the respondents Sulja Nevada, Sulja Bros. Building Supplies Ltd. (“Sulja Ontario”), Kore International Management Inc. (“Kore International”), Peter Vucicevich (“Vucicevich”) and Andrew De Vries (“De Vries”) (the “Temporary Order”);

AND WHEREAS on December 27, 2006, the Commission issued a Notice of Hearing and Staff of the Commission (“Staff”) issued a Statement of Allegations in this matter;

AND WHEREAS on January 8, 2007, the Temporary Order was extended to March 23, 2007;

AND WHEREAS on March 23, 2007, the Temporary Order was extended to July 5, 2007;

AND WHEREAS on July 5, 2007, the Temporary Order was extended to September 7, 2007;

AND WHEREAS on September 7, 2007, the Temporary Order was extended to October 31, 2007;

AND WHEREAS on October 31, 2007, the Temporary Order was extended to January 22, 2008;

AND WHEREAS on January 22, 2008, the Temporary Order was extended to March 28, 2008;

AND WHEREAS on March 28, 2008, the Temporary Order was extended to May 23, 2008;

AND WHEREAS on May 23, 2008, the Temporary Order was extended to June 23, 2008;

AND WHEREAS on June 16, 2008, the Commission issued a Notice of Hearing and Staff filed an Amended Statement of Allegations which added additional respondents to this matter: Steven Sulja, Pranab Shah (“Shah”), Tracey Banumas (“Banumas”) and Sam Sulja;

AND WHEREAS on June 23, 2008, the Temporary Order was extended to September 11, 2008;

AND WHEREAS on September 11, 2008, Vucicevich, Kore International, Banumas and Shah consented to the continuation of the Temporary Order;

AND WHEREAS on September 11, 2008, Sulja Nevada, Sam Sulja, Steven Sulja and De Vries did not appear before the Commission;

AND WHEREAS on September 11, 2008, the Commission found that Staff had made all reasonable efforts to remind the Respondents of the September 11, 2008, appearance before the Commission;

AND WHEREAS on September 11, 2008, the Commission ordered that this matter be set down for a hearing on the merits beginning November 16, 2009, and concluding December 11, 2009, excluding the dates of November 24 and December 8, 2009;

AND WHEREAS on September 11, 2008, the Commission ordered that the Temporary Order against Sulja Nevada, Kore International, Vucicevich and DeVries is extended to the conclusion of the hearing on the merits in this matter;

AND WHEREAS on October 29, 2009, counsel for Vucicevich, Kore International, Banumas and Shah appeared before the Commission and brought a motion before the Commission for leave of the Commission to withdraw as counsel for Vucicevich, Kore International, Banumas and Shah;

AND WHEREAS on October 29, 2009, Vucicevich, Kore International, Banumas and Shah appeared before the Commission and requested an adjournment of the hearing on the merits to allow them to retain new counsel;

AND WHEREAS on October 29, 2009, Staff advised the Commission that Sam Sulja, Steve Sulja and Sulja Nevada had been made aware of the motions before the Commission and, although not in attendance, were not opposed to the adjournment request made by Vucicevich, Kore International, Banumas and Shah;

AND WHEREAS on October 29, 2009, Staff advised the Commission that Staff had advised De Vries by e-mail of the motions to be heard on October 29, 2009 but that Staff had not received a response from De Vries, and De Vries was not in attendance on October 29, 2009;

AND WHEREAS on October 29, 2009, the Commission considered the submissions made by counsel for Vucicevich, Kore International, Banumas and Shah and the submissions made by Staff;

IT IS HEREBY ORDERED that the motion for leave of the Commission for counsel to withdraw, brought by counsel for Vucicevich, Kore International, Banumas and Shah, is granted and leave of the Commission is granted for counsel to withdraw;

IT IS FURTHER ORDERED that the motion for an adjournment of the hearing on the merits brought by Vucicevich, Kore International, Banumas and Shah is granted and the dates set aside for the hearing on the merits are vacated;

IT IS FURTHER ORDERED that this matter is adjourned to December 4, 2009 at 10 a.m. at which time Vucicevich, Kore International, Banumas and Shah or new counsel on their behalf attend for the purpose of scheduling a pre-hearing conference;

IT IS FURTHER ORDERED that Staff make all reasonable efforts to advise Sam Sulja, Steve Sulja, Sulja Nevada, and De Vries of this order and of the next appearance date before the Commission.

DATED at Toronto this 29th day of October, 2009.

 

 

 

                                       

 

 

James E. A. Turner