THE MANI TOS A
S EC URITI E
S
C OMMI S S ION
THE SECURITIES ACT
)
Order No. 6431
)
Sections 148, 19(5), and 148.3
)
November 30, 2011
MICHAEL EDWARD LEPITRE
WHEREAS:
(A)
On August 26,
2010, the Alberta Securities Commission
CASC")
issued a decision ("ASC Sanctions Decision") against various respondents including
Michael Edward Lepitre ("LEPITRE");
(8)
On April 26, 2011, the ASC issued another decision varying the ASC
Sanctions Decision as against LEPITRE;
(C)
On
October
21,
2011 ,
The
Manitoba
Securities
Commission
("Commission") issued a Notice of Hearing ("Notice") giving notice of its intention to
hold a hearing to consider whether or not it was in the public interest to grant orders
pursuant to section 148.4 of The Securities Act, R. S.M. 1988, c. S50 as amended
("Act") with respect to LEPITRE;
(D)
This hearing matter came before a panel of the Commission on
November 30, 2011;
(E)
Upon reviewing the documentary evidence including the Affidavits of
Service, hearing the submissions of counsel for staff of the Commission and for
LEPITRE appearing for himself by telephone, and being satisfied as to service upon
the respondent, the Commission is of the opinion that it is in the public interest to
make this order.
IT IS ORDERED:
1.
THAT, pursuant to sections 148 and 19(5) of the Act, LEPITRE cease
trading in securities and subsection 19(1) of the Act , with respect to such of the
trades referred to in that subsection, and subsection 19(2) of the Act , with respect to
such of the securities referred to in that subsection , do not apply to LEPITRE, until
and including September 1, 2030 , except that this order does not preclude LEPITRE
from trading in securities through a registrant , who has first been given a copy of this
order, in :
(a)
one account for the benefit of LEPITRE;
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Page 2
(b)
registered
retirement
savings
plans,
registered
retirement
income funds or registered education savings plans, as defined
in
the
Income
Tax
Act (Canada) , or
locked-in
retirement
accounts for the benefit of one or more of LEPITRE, his spouse,
and his children ; or
(c)
both .
2.
THAT pursuant to
section
148.3 of the Act , LEPITRE resign
all
positions he holds as a director or officer of any issuer and be prohibited from
becoming or acting as a director or officer or both of any issuer until and including
September 1, 2030, except that this order does not preclude him from:
(a)
continuing to act as a director or officer or both of Kustom
Design Professional Services Corp., provided that:
(i)
the company does not , directly or indirectly, through
directors, officers , employees, agents,
contractors
or
otherwise : issue, propose to issue, trade, distribute or
deal in any securities , whether of its own issue or of
another issuer; act as a dealer, adviser or investment
fund manager; or act in a management or consultative
capacity in
connection with activities in the securities
markets, and
(ii)
the name of the company is changed so as not to include
the word "Kustom" or any variant thereof;
(b)
continuing to act as a director or officer or both of Hightide
Management Inc. , provided that:
(i)
the sole purpose of his so acting is to administer and
realize on,
for the benefit of its creditors , the single
mortgage that Hightide Management Inc. currently holds,
and thereafter to effect the liquidat ion and dissolution of
Hightide Management Inc., and
(ii)
the company does not, directly or indirectly , through
directors, officers , employees,
agents,
contractors
or
otherwise: issue, propose to issue, trade , distribute or
deal in any securities , whether of its own issue or of
another issuer; act as a dealer, adviser or investment
fund manager; or act in a management or consultative
capacity in connection with activities in the securities
markets; or
(c)
continuing to act as a director or officer or both of G Productions
Inc., provided that the company does not, directly or indirectly,
through directors, officers , employees , agents, contractors or
otherwise: issue, propose to issue, trade , distribute or deal in
any securities, whether of its own issue or of another issuer; act
as a dealer, adviser or investment fund manager; or act in a
management
or
activities in the securities markets.
BY ORDER OF THE COMMISSION
Page 3
consultative
capacity
in
connection
with
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