Proceedings

PDF Version
PDF Version

IN THE MATTER OF THE SECURITIES ACT
R.S.O. 1990, c. S.5, AS AMENDED

- AND -

IN THE MATTER OF

EUSTON CAPITAL CORP. and GEORGE SCHWARTZ

ORDER
Section 127(7)

    WHEREAS on May 1, 2006, the Ontario Securities Commission ordered pursuant to sections 127(1) and (5) of the Securities Act, R.S.O. 1990, c.S.5., as amended, that all trading in securities of Euston Capital Corp. (“Euston”) cease, trading in securities by Euston and George Schwartz (“Schwartz”) cease, and any exemptions contained in Ontario securities law do not apply to Euston and Schwartz (the “Temporary Order”);

    AND WHEREAS on May 2, 2006, the Commission issued a Notice of Hearing and Statement of Allegations in this matter;

    AND WHEREAS Euston and Schwartz have requested an adjournment and have consented to an extension of the Temporary Order and to a peremptory date for the extension hearing;

    AND WHEREAS Euston and Schwartz have undertaken to keep investors advised of the status of this proceeding through notices, updates, and news releases to be displayed prominently on the home page of Euston’s website at www.eustoncapital.com by May 19, 2006;

    AND UPON HEARING submissions from counsel for Staff of the Commission and from Schwartz on his behalf and on behalf of Euston;

    AND WHEREAS the Commission is of the opinion that it is in the public interest to make this order;

    IT IS ORDERED THAT :

  1. the hearing to consider whether to extend the Temporary Order is adjourned until June 9, 2006 at 10:00 a.m., peremptory to the respondents;
  2. the Temporary Order is continued until the hearing on June 9, 2006 or until further order of the Commission; and
  3. any materials upon which Euston and Schwartz intend to rely will be served and filed no later than May 24, 2006.

DATED at Toronto this 11th day of May, 2006.

“Wendell S. Wigle”
Wendell S. Wigle, Q.C.
“Suresh Thakrar”
Suresh Thakrar