IN THE MATTER OF THE SECURITIES ACT,
R.S.O. 1990, c. S.5, as amended
- and -
IN THE MATTER OF GLOBAL CONSULTING AND FINANCIAL SERVICES,
CROWN CAPITAL MANAGEMENT CORPORATION, CANADIAN PRIVATE AUDIT
SERVICE, EXECUTIVE ASSET MANAGEMENT, MICHAEL CHOMICA, PETER
KUTI, JAN CHOMICA, AND LORNE BANKS
NOTICE OF MOTION
TAKE NOTICE THAT Staff of the Ontario Securities Commission (“Staff”) will make a motion before the Ontario Securities Commission (the “Commission”) pursuant to section 127 of the Securities Act (the “Act”), R.S.O. 1990, c.S.5 as amended, at the offices of the Commission, 17th Floor, 20 Queen Street West, Toronto, Ontario on Monday, December 20, 2010 commencing at 10:00 a.m., for (i) an order amending the Temporary Order in this matter dated November 4, 2010 and continued by Order dated November 17, 2010 (the “Temporary Order”), to include Peter Siklos as the person using the alias Peter Kuti and therefore to make Peter Siklos subject to the Temporary Order. Staff is requesting that the motion be heard on an expedited basis and, as such, that the Commission waive compliance with the notice requirements for the filing of motion materials and the requirement for the filing of a Memorandum of Fact and Law as set out in the Commission’s Rules of Procedure.
1. On November 4, 2010, the Commission issued a Temporary Order pursuant to section 127(1) and (5) that Global Consulting and Financial Services (“Global”), Crown Capital Management Corporation (“Crown”), Peter Kuti (“Kuti”), Canadian Private Audit Service (“CPAS”), Executive Asset Management (“EAM”), Lorne Banks (“Banks”), Jan Chomica and Michael Chomica, cease trading in all securities and that any exemptions contained in Ontario securities laws do not apply to Global, Crown, CPAS, EAM, Jan Chomica, Michael Chomica, Kuti and Banks.
2. On November 17, 2010, Staff attended before a Panel of the Commission to extend the Temporary Order.
3. In support of the extension of the Temporary Order, Staff filed an Affidavit of Wayne Vanderlaan dated November 15, 2010 (the “Vanderlaan Affidavit”).
4. Paragraph 47 of the Vanderlaan Affidavit provided, “Staff are still trying to locate the person using the name Peter Kuti and acting as the directing mind of Crown.”
5. On November 17, 2010, the Temporary Order was extended to January 27, 2011.
B. The Present Motion
6. Staff have obtained evidence that Peter Siklos is the person using the alias Peter Kuti referred to in the Vanderlaan Affidavit.
7. Staff brings this motion to add Peter Siklos to the Temporary Order.
8. There is evidence that the conduct outlined in the Vanderlaan Affidavit is ongoing and poses a risk to investors and the capital markets.
9. In Staff’s submission, it is in the public interest to have this motion heard immediately to ensure that the correct parties are cease traded and to provide notice to the public.
THE FOLLOWING DOCUMENTARY EVIDENCE will be used at the hearing of this motion:
- The Affidavit of Wayne Vanderlaan dated December 15, 2010.
AND TAKE NOTICE that any party to the proceeding may be represented by counsel at the hearing;
AND TAKE FURTHER NOTICE that upon failure of any party to attend at the time and place aforesaid, the hearing may proceed in the absence of that party and such party is not entitled to any further notice of the proceeding.
DATED at Toronto, Ontario this 16 day of December, 2010.
|Global Consulting and Financial Services
Crown Capital Management Corporation
Canadian Private Audit Service
Executive Asset Management
Peter Siklos also known as Peter Kuti