IN THE MATTER OF
THE SECURITIES ACT,
R.S.O. 1990, c. S.5, AS AMENDED
IN THE MATTER OF
LEHMAN COHORT GLOBAL GROUP INC.,
ANTON SCHNEDL, RICHARD UNZER,
ALEXANDER GRUNDMANN AND
(Sections 127(1) & 127(8))
WHEREAS on May 20, 2009, the Ontario Securities Commission (the "Commission") issued a temporary cease trade order pursuant to sections 127(1) and 127(5) (the "Temporary Order") of the Securities Act, R.S.O. 1990, c. S.5, as amended (the "Act") ordering the following:
i) that all trading in any securities by Lehman, Anton Schnedl ("Schnedl"), Richard Unzer ("Unzer"), Alexander Grundmann ("Grundmann") and Henry Hehlsinger ("Hehlsinger") shall cease;
ii) that any exemptions contained in Ontario securities law do not apply to Lehman or its agents or employees; and
iii) that any exemptions contained in Ontario securities law do not apply to Schnedl, Unzer, Grundmann and Hehlsinger.
AND WHEREAS on May 20, 2009, the Commission ordered that the Temporary Order shall expire on the 15th day after its making unless extended by order of the Commission;
AND WHEREAS on June 1, 2009, the Commission issued a Notice of Hearing to consider, among other things, the extension of the Temporary Order, to be held on June 4, 2009 at 9 a.m.;
AND WHEREAS Staff of the Commission ("Staff'") served Lehman and Schnedl with copies of the Temporary Order and a Notice of Hearing as evidenced by the Affidavit of Kathleen McMillan sworn on June 4, 2009;
AND WHEREAS Staff had no contact information for Uzner, Grundmann or Hehlsinger and were not able to serve them with any materials in advance of the hearing scheduled for June 4, 2009;
AND WHEREAS on June 4, 2009, the sole director of Lehman sent Staff correspondence indicating that she would not be attending on June 4, 2009 and that she did not "oppose the cease trading order";
AND WHEREAS the Commission held a hearing on June 4, 2009, and none of the Respondents attended before the Commission;
AND WHEREAS on June 4, 2009, the Commission ordered that the Temporary Ordered be extended to July 22, 2009 and the hearing be adjourned to July 21, 2009;
AND WHEREAS Staff served Lehman and Schnedl with copies of the Commission order of June 4, 2009 as evidenced by the Affidavit of Kathleen McMillan sworn on July 20, 2009;
AND WHEREAS Staff still have no contact information for Uzner, Grundmann or Hehlsinger and have not been able to serve them with any materials;
AND WHEREAS on July 20, 2009, the sole director of Lehman sent Staff correspondence indicating that neither she nor her counsel would be attending on July 21, 2009;
AND WHEREAS a hearing to consider extending the Temporary Order was held on July 21, 2009 commencing at 2:30 p.m. and Staff appeared and made submissions;
AND WHEREAS none of the Respondents appeared before the Commission to oppose Staff's request for the extension of the Temporary Order;
AND WHEREAS the Commission is of the opinion that it is in the public interest to make this order;
IT IS HEREBY ORDERED pursuant to section 127(8) that the Temporary Order is extended to August 20, 2009; and
IT IS FURTHER ORDERED that the hearing is adjourned to August 19, 2009, at 10:00 a.m., or to such other date as is determined by the Office of the Secretary.
DATED at Toronto this 21st of July, 2009.
"Carol S. Perry"