Securities Law & Instruments

File No. 2017-4


Timothy Moseley, Vice-Chair and Chair of the Panel
Deborah Leckman, Commissioner
Robert P. Hutchison, Commissioner

December 14, 2017

Subsection 127(1) of the
Securities Act, RSO 1990, c S.5

                WHEREAS on December 13, 2017, the Ontario Securities Commission (the Commission) held a hearing at the offices of the Commission, located at 20 Queen Street West, 17th Floor, Toronto, Ontario, to consider the parties’ request to conduct the merits hearing in this proceeding as a written hearing; and

                ON HEARING the submissions of the representative for Staff of the Commission (Staff), and of Dennis L. Meharchand and Valt.X Holdings Inc. (the Respondents) appearing by telephone;

                IT IS ORDERED THAT:

1.             Pursuant to Rule 20 of the Commission’s Rules of Procedure and Forms (2017), 40 OSCB 8988, the Panel directs that a confidential conference shall be held on December 18, 2017 at 2:00 p.m., and the parties may, but are not required to, file materials with the Registrar in advance for use at the confidential conference, which materials shall remain confidential;

2.             The final interlocutory appearance on December 18, 2017 and the merits hearing dates of January 15, 16, 22, 24, 25, 26, 29, 30, and 31 and February 1 and 2, 2018, are vacated;

3.             The merits hearing shall be heard on such dates as may be fixed by further order of the Commission, or agreed to by the parties and set by the Office of the Secretary;

4.             The direct evidence for the merits hearing shall be adduced by way of affidavits;

5.             All parties who file affidavits evidence shall make their affiants available for cross-examination by any adverse party at the merits hearing;

6.             The parties shall adhere to the following timeline for the delivery of materials for the merits hearing:

a.             Staff shall serve and file its affidavit evidence, memorandum of law and brief of authorities by January 8, 2018;

b.             the Respondents shall serve and file their affidavit evidence, memorandum of law and brief of authorities by January 29, 2018; and

c.             Staff shall serve and file reply materials, if any, by February 5, 2018.

“Timothy Moseley”

“Deborah Leckman”

“Robert P. Hutchison”