Proceedings

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

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IN THE MATTER OF GITC INVESTMENTS AND TRADING CANADA LTD.
carrying on business as GITC INVESTMENTS AND TRADING CANADA INC. and GITC, GITC INC., and AMAL TAWFIQ ASFOUR ORDER




WHEREAS:

  1. on March 12, 2015 the Ontario Securities Commission (the “Commission”) issued a Notice of Hearing pursuant to sections 127 and 127.1 of the Securities Act, R.S.O., c. S.5, as amended (the “Act”) in connection with a Statement of Allegations filed by Staff of the Commission (“Staff”) on March 12, 2015 with respect to GITC Investments & Trading Canada Ltd. carrying on business as GITC Investments and Trading Canada Inc. and GITC, GITC Inc., and Amal Tawfiq Asfour (collectively, the “Respondents”);
  2. the Notice of Hearing set a hearing in this matter for Friday April 10, 2015;
  3. on April 10, 2015, counsel for Staff and counsel for the Respondents appeared before the Commission for a First Appearance, and the Commission ordered that:
    1. Staff shall provide disclosure to the Respondents by May 8, 2015, of documents and things in the possession or control of Staff that are relevant to the hearing,
    2. The Second Appearance shall be held at the offices of the Commission located at 20 Queen Street West, 17th Floor, Toronto, Ontario commencing on Monday July 20, 2015 at 1:30 p.m. or as soon thereafter as the hearing can be held,
    3. Any requests by any of the Respondents for disclosure of additional documents shall be set out in a Notice of Motion to be filed no later than 10 days before the Second Appearance,
    4. Staff shall make disclosure of their witness list and summaries and indicate any intent to call an expert witness, and provide the Respondents the name of the expert and state the issue on which the expert will be giving evidence by July 13, 2015, and
    5. At the Second Appearance, any motions by any of the Respondents with respect to disclosure provided by Staff will be heard or scheduled for a subsequent date;
  4. on July 20, 2015, counsel for Staff and counsel for the Respondents appeared before the Commission for a Second Appearance and the Commission ordered that:
    1. The Respondents shall make disclosure to Staff of their witness list and summaries and indicate any intent to call an expert witness, and provide Staff the name of the expert and state the issue on which the expert will be giving evidence on or before August 20, 2015, and
    2. The Third Appearance shall be held at the offices of the Commission located at 20 Queen Street West, 17th Floor, Toronto, Ontario commencing on Tuesday October 6, 2015 at 1:30 p.m. or as soon thereafter as the hearing can be held;
  5. on October 6, 2015, counsel for Staff and counsel for the Respondents appeared before the Commission for the Third Appearance;
  6. the Commission is of the opinion that it is in the public interest to make this order;

IT IS ORDERED THAT:

  1. the Respondents shall make disclosure to Staff of their witness list and summaries and indicate any intent to call an expert witness, and provide Staff the name of the expert and state the issue on which the expert will be giving evidence on or before January 15, 2016;
  2. the Final Interlocutory Appearance shall be held at the offices of the Commission located at 20 Queen Street West, 17th Floor, Toronto, Ontario commencing on Friday January 15, 2016 at 1:30 p.m. or as soon thereafter as the hearing can be held; and
  3. the hearing on the merits in this matter shall be held at the offices of the Commission located at 20 Queen Street West, 17th Floor, Toronto, Ontario commencing on Monday April 11, 2016 at 10:00 a.m., and shall continue on April 12 and 13, 2016.

DATED at Toronto this 6th day of October, 2015.

 



"Alan J. Lenczner "
Alan J. Lenczner