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
NEW HUDSON TELEVISION LLC & JAMES DMITRY SALGANOV
(Section 127 of the Securities Act)

ORDER



    WHEREAS on June 8, 2011, the Ontario Securities Commission (the “Commission”) issued a temporary cease trade order pursuant to subsections 127(1) and 127(5) of the Securities Act, R.S.O. 1990, c. S.5, as amended (the “Act”) ordering: that all trading in New Hudson Television Corporation (“NHTV Corp.”) securities and New Hudson Television L.L.C. (“NHTV LLC”) securities shall cease; that NHTV Corp. and NHTV LLC and their representatives cease trading in all securities; and that any exemptions contained in Ontario securities law do not apply to NHTV Corp. and NHTV LLC (the “Temporary Order”);

    AND WHEREAS on June 8, 2011, the Commission ordered that the Temporary Order shall expire on the fifteenth day after its making unless extended by order of the Commission;

    AND WHEREAS on June 16, 2011, the Commission issued a Notice of Hearing to consider, among other things, the extension of the Temporary Order, to be held on June 22, 2011 at 9:00 a.m. (the “Notice of Hearing”);

    AND WHEREAS the Notice of Hearing set out that the Hearing was to consider, inter alia, whether, in the opinion of the Commission, it was in the public interest, pursuant to subsections 127(7) and (8) of the Act, to extend the Temporary Order until the conclusion of the hearing, or until such further time as considered necessary by the Commission;

    AND WHEREAS Staff of the Commission (“Staff”) had served NHTV Corp., NHTV LLC and James Dmitry Salganov (“Salganov”) (collectively, the “Respondents”) with copies of the Temporary Order and the Notice of Hearing, as evidenced by the Affidavit of Charlene Rochman, sworn on June 20, 2011, and filed with the Commission;

    AND WHEREAS on June 22, 2011, Staff appeared before the Commission, but no one attended on behalf of any of the Respondents;

    AND WHEREAS on June 22, 2011, Staff informed the Commission that Salganov was the sole Director of NHTV Corp. and NHTV LLC and that he consented to a further extension of the Temporary Order in an email dated June 20, 2011;

    AND WHEREAS on June 22, 2011, Staff sought to amend the Temporary Order to include Salganov, thereby making Salganov subject to the Temporary Order;

    AND WHEREAS on June 22, 2011 it was ordered that:

  1. the Temporary Order was amended to provide that pursuant to clause 2 of subsection 127(1) of the Act, James Dmitry Salganov shall cease trading in securities of NHTV Corp. and NHTV LLC;
  2. pursuant to subsection 127(8) of the Act, the Temporary Order as amended by (i), above (the “Amended Temporary Order”) was extended to December 20, 2011; and,
  3. the hearing to consider any further extension of the Amended Temporary Order would be held on December 19, 2011 at 9:00 a.m.

    AND WHEREAS on December 19, 2011, Staff appeared before the Commission to extend the Amended Temporary Order, but no one attended on behalf of any of the Respondents;

    AND WHEREAS on December 19, 2011, Staff informed the Commission that the Respondents consent to a further extension of the Amended Temporary Order for six months;

    AND WHEREAS on December 19, 2011 it was ordered that:

  1. pursuant to subsection 127(8) of the Act, the Amended Temporary Order was extended to June 25, 2012; and
  2. the hearing to consider any further extension of the Amended Temporary Order would be held on June 22, 2012 at 10:00 a.m.;

    AND WHEREAS on June 22, 2012, Staff appeared before the Commission to request an extension of the Amended Temporary Order, but no one attended on behalf of any of the Respondents;

    AND WHEREAS the Commission was satisfied that the Respondents had been served with copies of the Order of the Commission dated December 19, 2011 and notice of that hearing;

    AND WHEREAS Staff informed the Commission that the Respondents consented to a further extension of the Amended Temporary Order for six months;

    AND WHEREAS on June 22, 2012 it was ordered that:

  1. pursuant to subsection 127(8) of the Act, the Amended Temporary Order was extended to December 21, 2012; and
  2. the hearing to consider any further extension of the Amended Temporary Order would be held on December 20, 2012 at 10:00 a.m., or such other date and time as set by the Office of the Secretary;

    AND WHEREAS on October 9, 2012, the Commission issued a Notice of Hearing pursuant to sections 127 and 127.1 of the Act, accompanied by a Statement of Allegations dated October 9, 2012, issued by Staff with respect to New Hudson Television LLC and Dmitry James Salganov, hereafter known as James Dmitry Salganov:

    AND WHEREAS the Notice of Hearing stated that a hearing would be held at the offices of the Commission on October 19, 2012;

    AND WHEREAS on October 19, 2012, Staff confirmed the Commission had received the affidavit of Peaches A. Barnaby sworn October 17, 2012, which indicated that the Notice of Hearing and Statement of Allegations were served on all the Respondents;

    AND WHEREAS on October 19, 2012, Staff appeared and Salganov participated via telephone conference and made submissions, and Staff requested that the matter be adjourned until December 20, 2012, for a status hearing;

    IT IS HEREBY ORDERED that the status hearing shall continue on December 20, 2012 at 10:00 a.m. or immediately after the hearing to consider any further extension of the Amended Temporary Order.

Dated at Toronto this 19th day of October, 2012.

 

" James D. Carnwath "
James D. Carnwath