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Application to vary temporary cease trade order dismissed and order extended due to Ponzi scheme allegations.
The applicant, Weizhen Tang, brought an application to permit him to trade in foreign currencies under supervision on behalf of himself and consenting investors, despite an existing temporary cease trade order.
Staff of the Ontario Securities Commission sought to extend the temporary cease trade order pending related criminal proceedings.
The Commission found that the applicant had admitted to serious allegations, including failing to disclose losses, creating misleading account statements, and dissipating all invested funds in what Staff alleged was a Ponzi scheme.
The Commission dismissed the application to permit trading, finding it would pose an unacceptable risk of further harm to investors and capital markets, and extended the temporary cease trade order.
Appeal to vary child support and rescind arrears dismissed; father failed to prove material change.
The appellant father appealed the dismissal of his motion to vary child support and rescind over $20,000 in arrears.
He argued that his income had severely diminished due to depression and that the motions judge erred in imputing an annual income of $40,000 based on his past work in family businesses.
The Divisional Court dismissed the appeal, finding that the appellant failed to meet his onus of establishing a material change in circumstances.
The majority held that the motions judge was entitled to conclude that his income was difficult to discern and that a trial of an issue was not required.
Appeal dismissed; arbitration application was premature as issues had not been mediated.
The appellant appealed an arbitrator's order dismissing her application for arbitration as premature and ordering her to pay a $3,000 assessment for abuse of process.
The Director's Delegate dismissed the appeal, finding that the issues in dispute had not been mediated as required by section 281(2) of the Insurance Act.
The appellant and her counsel had been given multiple opportunities to remedy the situation but failed to do so.
The arbitrator's finding of abuse of process and the resulting assessment were amply supported by the record.
Arbitration dismissed as premature and an abuse of process for failure to mediate accident benefits claims.
The applicant was injured in a motor vehicle accident and applied for arbitration for statutory accident benefits.
The insurer moved to dismiss the arbitration on the basis that the applicant had already commenced a court proceeding and had failed to mediate the issues in dispute.
The arbitrator found that the application was premature because the applicant had not sought mediation, which is a mandatory prerequisite under the Insurance Act.
The arbitration was dismissed as an abuse of process due to the applicant's counsel's repeated failure to comply with undertakings to withdraw the court action and mediate the claims.
The applicant was ordered to pay the insurer's $3,000 assessment fee and $609.37 in legal expenses.
