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IN THE MATTER OF: |
THE SECURITIES ACT |
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IN THE MATTER OF: |
MICHAEL PATRICK LATHIGEE, EARLE DOUGLAS PASQUILL, FIC REAL ESTATE PROJECTS LTD., FIC FORECLOSURE FUND LTD. AND WBIC CANADA LTD. |
NOTICE OF HEARING
TAKE NOTICE that The Manitoba Securities Commission (“Commission”) will hold a public hearing (“Hearing”) at its offices at Room 500 - 400 St. Mary Avenue, Winnipeg, Manitoba on Wednesday, the 18th day of November, 2015 commencing at 9:30 o’clock in the forenoon or so soon thereafter as the Hearing can be held, and from day to day thereafter until the Hearing is concluded, to consider pursuant to section 148.4 of The Securities Act, R.S.M. 1988, c. S50 as amended (“Act”):
1. whether or not it is in the public interest to order, pursuant to section 148 of the Act, that all trading in securities of FIC Real Estate Projects Ltd. (“FIC PROJECTS”), FIC Foreclosure Fund Ltd. (“FIC FORECLOSURE”) and/or WBIC Canada Ltd. (“WBIC”) cease;
2. whether or not it is in the public interest to order, pursuant to section 148 of the Act, that all trading in securities by Michael Patrick Lathigee (“LATHIGEE”) and/or Earle Douglas Pasquill (“PASQUILL”) cease;
3. whether or not it is in the public interest to order, pursuant to section 19(5) of the Act, that:
(a) subsection 19(1) of the Act does not, with respect to such of the trades referred to in that section, apply to LATHIGEE, PASQUILL, FIC PROJECTS, FIC FORECLOSURE and/or WBIC;
(b) subsection 19(2) of the Act does not, with respect to such of the securities referred to in that section, apply to LATHIGEE, PASQUILL, FIC PROJECTS, FIC FORECLOSURE and/or WBIC;
4. whether or not it is in the public interest to order, pursuant to section 148.3 of the Act, that each of LATHIGEE and/or PASQUILL resign any position he holds as, and be prohibited from becoming or acting as, a director or officer of any issuer;
5. such further and other matters and the making of such further and other orders as the Commission may deem appropriate.
BY REASON OF THE FOLLOWING ALLEGATIONS:
By reason of a Decision of the British Columbia Securities Commission dated March 16, 2015, to be filed, and such other material as staff counsel may advise and the panel may allow.
AND FURTHER TAKE NOTICE that a person or company attending or submitting evidence at the Hearing may be represented by counsel of its choice.
AND FURTHER TAKE NOTICE that any party to the proceedings may, at the Hearing, call witnesses and submit such evidence relevant to the Hearing as it may wish and, for that purpose, it may obtain from the Director of the Commission at Room 500 – 400 St. Mary Avenue, Winnipeg, Manitoba, a form or forms of summons to compel the attendance of witnesses.
AND FURTHER TAKE NOTICE that upon failure of any party to attend at the time and place aforesaid, the Hearing may proceed in that party’s absence and the Commission may make or give any decision or order as though that party were present.
DATED at Winnipeg, Manitoba this 28th day of August, 2015.
Director
TO: MICHAEL PATRICK LATHIGEE
AND TO: EARLE DOUGLAS PASQUILL
AND TO: FIC REAL ESTATE PROJECTS LTD.
AND TO: FIC FORECLOSURE FUND LTD.
AND TO: WBIC CANADA LTD.