IN THE MATTER OF THE SECURITIES ACT, RSO 1990, c S.5 AND IN THE MATTER OF MICHAEL PATRICK LATHIGEE, EARLE DOUGLAS PASQUILL, IC REAL ESTATE PROJECTS LTD., FIC FORECLOSURE FUND LTD. and WBIC CANADA LTD.
1. On November 8, 2016, Staff ("Staff") of the Ontario Securities Commission (the "Commission") filed a Statement of Allegations seeking an order against Michael Patrick Lathigee ("Lathigee"), Earle Douglas Pasquill ("Pasquill"), FIC Real Estate Projects Ltd. ("FIC Projects"), FIC Foreclosure Fund Ltd. ("FIC Foreclosure") and WBIC Canada Ltd. ("WBIC") (collectively, the "Respondents"), pursuant to subsections 127(1) and 127(10) of the Securities Act, RSO 1990, c S.5 (the "Act");
2. On November 9, 2016, the Commission issued a Notice of Hearing in respect of that Statement of Allegations, setting November 30, 2016 as the date of the hearing;
3. On November 30, 2016, the Commission held a hearing and heard the submissions of Staff, appearing in person, Lathigee, attending via teleconference, and who made submissions on his own behalf and for the corporate respondents, FIC Projects, FIC Foreclosure and WBIC; with no one appearing for Pasquill, although properly served as appears from the Affidavit of Lee Crann, sworn November 24, 2016;
4. On November 30, 2016, the Commission adjourned the hearing in this matter to January 12, 2017 at 10:00 a.m.;
5. On January 12, 2017, Staff and counsel for Lathigee appeared before the Commission and made submissions;
6. Lathigee attended the hearing via teleconference, and made submissions on behalf of the corporate respondents, FIC Projects, FIC Foreclosure and WBIC;
7. Pasquill did not appear or make submissions; and
8. The Commission is of the opinion that it is in the public interest to make this order.
IT IS ORDERED THAT:
1. Staff's application to continue this proceeding by way of a written hearing is granted;
2. Staff's materials shall be served and filed no later than January 23, 2017;
3. The Respondents' responding materials, if any, shall be served and filed no later than March 13, 2017; and
4. Staff's reply materials, if any, shall be served and filed no later than March 27, 2017.
DATED at Toronto this 12th day of January, 2017.