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
SULJA BROS. BUILDING SUPPLIES, LTD., PETAR VUCICEVICH, KORE
INTERNATIONAL MANAGEMENT INC., ANDREW DE VRIES, STEVEN SULJA,
PRANAB SHAH, TRACEY BANUMAS, and SAM SULJA

ORDER



WHEREAS on December 22, 2006, the Ontario Securities Commission (the “Commission”) ordered pursuant to subsections 127(1) and 127(5) of the Securities Act, R.S.O. 1990, c. S.5, as amended (the “Act”) that immediately for a period of 15 days from the date thereof: (a) all trading in securities of Sulja Bros. Building Supplies, Ltd. (“Sulja Nevada”) cease; and (b) any exemptions in Ontario securities law do not apply to the respondents Sulja Nevada, Sulja Bros. Building Supplies Ltd. (“Sulja Ontario”), Kore International Management Inc. (“Kore International”), Peter Vucicevich (“Vucicevich”) and Andrew De Vries (“De Vries”) (the “Temporary Order”);

AND WHEREAS on December 27, 2006, the Commission issued a Notice of Hearing and Staff of the Commission (“Staff”) issued a Statement of Allegations in this matter;

AND WHEREAS on January 8, 2007, the Temporary Order was extended to March 23, 2007;

AND WHEREAS on March 23, 2007, the Temporary Order was extended to July 5, 2007;

AND WHEREAS on July 5, 2007, the Temporary Order was extended to September 7, 2007;

AND WHEREAS on September 7, 2007, the Temporary Order was extended to October 31, 2007;

AND WHEREAS on October 31, 2007, the Temporary Order was extended to January 22, 2008;

AND WHEREAS on January 22, 2008, the Temporary Order was extended to March 28, 2008;

AND WHEREAS on March 28, 2008, the Temporary Order was extended to May 23, 2008;

AND WHEREAS on May 23, 2008, the Temporary Order was extended to June 23, 2008;

AND WHEREAS on June 16, 2008, the Commission issued a Notice of Hearing and Staff filed an Amended Statement of Allegations which added additional respondents to this matter: Steven Sulja, Pranab Shah (“Shah”), Tracey Banumas (“Banumas”) and Sam Sulja;

AND WHEREAS on June 23, 2008, the Temporary Order was extended to September 11, 2008;

AND WHEREAS on September 11, 2008, the Commission ordered that this matter be set down for a hearing on the merits beginning November 16, 2009, and concluding December 11, 2009, excluding the dates of November 24 and December 8, 2009;

AND WHEREAS on September 11, 2008, the Commission ordered that the Temporary Order against Sulja Nevada, Kore International, Vucicevich and DeVries is extended to the conclusion of the hearing on the merits in this matter;

AND WHEREAS on October 29, 2009, the Commission allowed a motion for counsel for Vucicevich, Kore International, Banumas and Shah to withdraw from the record and to adjourn the hearing on the merits;

AND WHEREAS on October 29, 2009, the Commission ordered the matter adjourned to December 4, 2009 at 10 a.m. for Vucicevich, Kore International, Banumas and Shah or new counsel on their behalf to attend for the purpose of scheduling a pre-hearing conference;

AND WHEREAS on December 4, 2009, Vucicevich attended before the Commission and advised that he, Shah, Banumas and Kore International had not yet retained new counsel. Vucicevich also advised the Commission of the efforts that had been made to retain new counsel and that new counsel should be retained by January 2010;

AND WHEREAS on December 4, 2009, this matter was adjourned to January 8, 2010, at 10 a.m., to set a date for a pre-hearing conference, whether or not new counsel had been retained for Vucicevich, Banumas, Kore International and Shah.

AND WHEREAS none of the Respondents attended by 10:00 am on January 8, 2010;

AND WHEREAS on January 8, 2010, a pre-hearing conference was scheduled for March 4, 2010, at 10:00am;

AND WHEREAS Vucicevich, Banumas, Shah and Kore International appeared at the March 4, 2010, pre-hearing conference, advised that they had not yet retained counsel and made submissions on their own account;

AND WHEREAS counsel for Sam Sulja, Steve Sulja and Sulja Nevada confirmed in advance that he would not be attending the March 4, 2010, pre-hearing conference;

AND WHEREAS Andrew DeVries did not attend, though served with notice of the March 4, 2010, pre-hearing conference;

AND WHEREAS Staff appeared and made submissions;

IT IS ORDERED that this matter will proceed to a hearing on the merits on the following dates in 2010: September 13; the afternoon of September 14; September 15-17; September 20-24; October 4-8; October 13-15; October 18 and 19;

IT IS FURTHER ORDERED that the matter will return for a further pre-hearing conference to be held on May 7, 2010, at 10:00 am, to address any remaining pre-hearing issues.

DATED at Toronto this 4th day of March, 2010.

 

 

" Carol S. Perry "
Carol S. Perry