IN THE MATTER OF
THE SECURITIES ACT,
R.S.O. 1990, c. S.5, AS AMENDED
BIOVAIL CORPORATION, EUGENE N. MELNYK,
BRIAN H. CROMBIE, JOHN R. MISZUK
AND KENNETH G. HOWLING
WHEREAS, on March 24, 2008, the Ontario Securities Commission (the "Commission") issued a Notice of Hearing and related Statement of Allegations (the "Notice of Hearing") against Biovail Corporation ("Biovail"), Eugene N. Melnyk ("Melnyk"), Brian H. Crombie ("Crombie"), John R. Miszuk ("Miszuk") and Kenneth G. Howling ("Howling") (the "OSC Proceeding");
AND WHEREAS the Commission has approved settlement agreements reached with Biovail, Miszuk, Howling and Crombie;
AND WHEREAS the OSC Proceeding is continuing as against Melnyk;
AND WHEREAS Staff of the Commission and Melnyk are currently relying on 213 documents in the OSC Proceeding (the "Hearing Documents");
AND WHEREAS GSK was afforded the opportunity to review the Hearing Documents for GSK confidentiality concerns;
AND WHEREAS GSK brought a motion for confidential treatment over certain of the Hearing Documents listed at Schedule "A" hereto (the "Schedule "A" Documents")(the "GSK Motion");
IT IS HEREBY ORDERED that:
1. The GSK Motion is dismissed.
2. The Schedule "A" Documents shall only be made available to the public at the close of the OSC Proceeding in redacted form, as provided to the parties as part of the GSK Motion.
3. GSK shall be afforded the right to appear and be heard at the conclusion of the OSC Proceeding regarding matters arising during the hearing and matters arising out of the hearing, including but not limited to, issues relating to GSK confidentiality, other than those issues determined on the GSK Motion.
4. Transcripts of the OSC Proceeding shall only be made available to the public at the conclusion of the OSC Proceeding, after GSK has been afforded a reasonable opportunity to appear and be heard regarding any confidentiality issues arising therefrom.
5. The Commission, Melnyk and his counsel, Staff of the Commission, the United States Securities and Exchange Commission, the parties' experts, GSK and its counsel, as well as counsel for Crombie, Miszuk and Howling, may obtain transcripts of the OSC Proceeding throughout the OSC Proceeding. Such transcripts shall be kept confidential and not disclosed to any other person or entity until GSK has been afforded a reasonable opportunity to appear and be heard regarding any confidentiality issues arising therefrom.
DATED at Toronto this 4th day of March, 2009.
"James E.A. Turner"
"Paulette L. Kennedy"
"David L. Knight"