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 CANADIAN DERIVATIVES CLEARING CORPORATION

- AND -

IN THE MATTER OF
SINO-FOREST CORPORATION, ALLEN CHAN, ALBERT IP, ALFRED C.T. HUNG,
GEORGE HO AND SIMON YEUNG

NOTICE OF HEARING
(Section 144)



    WHEREAS on August 26, 2011, the Ontario Securities Commission (the "Commission") issued a temporary order pursuant to sections 127(1) and 127(5) of the Securities Act, R.S.O. 1990, c. S.5, as amended (the "Act") and an order pursuant to section 144 of the Act varying the prior order (together, the “Temporary Order”);

    AND WHEREAS the Temporary Order ordered that all trading in the securities of Sino-Forest Corporation (“Sino-Forest”) shall cease and that all trading by Allen Chan, Albert Ip, Alfred C.T. Hung, George Ho and Simon Yeung in securities shall cease;

    AND WHEREAS on September 8, 2011 the Commission extended the Temporary Order until January 25, 2012;

    AND WHEREAS on September 12, 2011 Canadian Derivatives Clearing Corporation (“CDCC”) made an application pursuant to section 144 of the Act for an order varying the Temporary Order;

    TAKE NOTICE THAT the Commission will hold a hearing (the “Hearing”) pursuant to section 144 of the Act in Hearing Room A of the Commission, 20 Queen Street West, 17th Floor, commencing on September 14, 2011 at 8:30 a.m., or as soon thereafter as the Hearing can be held;

    TO CONSIDER an application by CDCC and determine whether it is in the public interest for the Commission:

  1. to vary the Temporary Order to (a) permit the holders of outstanding put contracts, issued and cleared by CDCC, and providing for the sale of common shares of Sino-Forest (the “Put Contracts”) to exercise their rights of sale under each Put Contract, (b) permit the sellers of outstanding Put Contracts to perform their obligations to purchase Sino-Forest shares upon the exercise of Put Contracts sold by them, and (c) permit CDCC and each of its member firms to perform their respective obligations under CDCC’s Rules including all requisite acts in furtherance of the trades described in (a) and (b) ; and
  2. to make such further orders as the Commission considers appropriate;

    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 further notice of the proceeding.

    DATED at Toronto this 12th day of September, 2011.

 

 

" John Stevenson "
John Stevenson
                    Secretary to the Commission