Proceedings

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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
GLOBAL ENERGY GROUP, LTD., NEW GOLD LIMITED PARTNERSHIPS,
CHRISTINA HARPER, VADIM TSATSKIN, MICHAEL SCHAUMER, ELLIOT
FEDER, ODED PASTERNAK, ALAN SILVERSTEIN, HERBERT GROBERMAN,
ALLAN WALKER, PETER ROBINSON, VYACHESLAV BRIKMAN, NIKOLA
BAJOVSKI, BRUCE COHEN and ANDREW SHIFF

NOTICE OF HEARING
(Sections 37, 127 and 127.1)



TAKE NOTICE THAT the Ontario Securities Commission (the "Commission") will hold a hearing pursuant to sections 37, 127, and 127.1 of the Ontario Securities Act, R.S.O. 1990, c. S.5, as amended (the "Act") at the offices of the Commission at 20 Queen Street West, 17th Floor Hearing Room on June 14, 2010 at 9:30 a.m., or as soon thereafter as the hearing can be held, to consider:

  1. whether, in the opinion of the Commission, it is in the public interest, pursuant to sections 127 and 127.1 of the Act to order that:
    1. trading in any securities by Global Energy Group, Ltd. (“Global Energy”) and New Gold Limited Partnerships (“New Gold”), Christina Harper (“Harper”), Vadim Tsatskin (“Tsatskin”), Michael Schaumer (“Schaumer”), Elliot Feder (“Feder”), Oded Pasternak (“Pasternak”), Alan Silverstein (“Silverstein”), Herbert Groberman (“Groberman”), Allan Walker (“Walker”), Peter Robinson (“Robinson”), Vyacheslav Brikman (“Brikman”), Nikola Bajovski (“Bajovski”) , Bruce Cohen (“Cohen”) and Andrew Shiff (“Shiff”), collectively the "Respondents", cease permanently or for such period as is specified by the Commission;
    2. the acquisition of any securities by the Respondents is prohibited permanently or for such other period as is specified by the Commission;
    3. any exemptions contained in Ontario securities law do not apply to the Respondents permanently or for such period as is specified by the Commission;
    4. each of the Respondents disgorge to the Commission any amounts obtained as a result of non-compliance by that respondent with Ontario securities law;
    5. Harper, Tsatskin, Schaumer, Feder, Pasternak, Silverstein, Groberman, Walker, Robinson, Brikman, Bajovski, Cohen and Shiff (collectively the "Individual Respondents") resign one or more positions that they hold as a director or officer of any issuer, registrant, or investment fund manager;
    6. the Individual Respondents be prohibited from becoming or acting as a director or officer of any issuer, registrant, and investment fund manager;
    7. the Individual Respondents be reprimanded;
    8. the Individual Respondents be prohibited from becoming or acting as a registrant, as an investment fund manager and as a promoter;
    9. the Respondents each pay an administrative penalty of not more than $1 million for each failure by that respondent to comply with Ontario securities law; and,
    10. the Respondents be ordered to pay the costs of the Commission investigation and the hearing.
  2. whether, in the opinion of the Commission, an order should be made pursuant to section 37 of the Act that the Individual Respondents cease permanently to telephone from within Ontario to any residence within or outside Ontario for the purpose of trading in any security or any class of securities; and,
  3. whether to make such further orders as the Commission considers appropriate.

BY REASON OF the allegations as set out in the Statement of Allegations of Staff of the Commission dated June 8, 2010 and such further additional allegations as counsel may advise and the Commission may permit;

AND TAKE FURTHER NOTICE that any party to the proceedings 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 proceedings.

 

DATED at Toronto this 8th day of June, 2010

 

" John Stevenson "
John Stevenson
Secretary to the Commission

 

TO: Global Energy Group, Ltd.
c/o Vadim Tsatskin
   
AND TO: New Gold Limited Partnerships
c/o Vadim Tsatskin
   
AND TO: Christina Harper
   
AND TO: Vadim Tsatskin
   
AND TO: Michael Schaumer
   
AND TO: Elliot Feder
   
AND TO: Oded Pasternak
   
AND TO: Alan Silverstein
   
AND TO: Herbert Groberman
   
AND TO: Allan Walker
   
AND TO: Peter Robinson
   
AND TO: Vyacheslav Brikman
   
AND TO: Nikola Bajovski
   
AND TO: Bruce Cohen
   
AND TO: Andrew Shiff