The Filer, PHH Corporation, applied to the Ontario Securities Commission for an order under subparagraph 1(10)(a)(ii) of the Securities Act declaring that it is no longer a reporting issuer.
Following a merger, the Filer became a wholly-owned subsidiary of Ocwen Financial Corporation, and its common stock was delisted from the New York Stock Exchange.
The Filer's only outstanding securities are two classes of senior notes, which are held by a small number of investors in Canada and are not traded on any Canadian marketplace.
The Commission was satisfied that the statutory test was met and granted the requested order.
