Orders and Exemptions

Decision Information

Decision Content

THE SECURITIES ACT

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Order No. 7347

 

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Sections 148, 19(5), 148.3, and 8

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May 18, 2016

 

 

PARADOX DISTRIBUTORS (1992) LTD.,
ECHO PARTNERS LTD., U-GO BRANDS NUTRITIONAL
PRODUCTS INC., PETER DAVID HARRIS, LORNE NEIL CIRE,
CHRISTOPHER ANDREW BURKE, MILLARD MICHAEL KWASNEK
AND JOSEPH YVAN JEANCLAUDE THIBERT A.K.A. JOHN THIBERT
         

WHEREAS:

 

(A)         On December 14, 2015, the British Columbia Securities Commission (“BCSC”) issued a Decision against Paradox Distributors (1992) Ltd., Echo Partners Ltd., U-GO Brands Nutritional Products Inc., Peter David Harris, Lorne Neil Cire, Christopher Andrew Burke, Millard Michael Kwasnek, and Joseph Yvan JeanClaude Thibert also known as John Thibert (“BCSC Decision”);

 

(B)       On February 23, 2016, 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 The Securities Act, R.S.M. 1988 c. S50 as amended (“Act”) with respect to Paradox Distributors (1992) Ltd. (“PARADOX”), Echo Partners Ltd. (“ECHO”), U-GO Brands Nutritional Products Inc. (“U-GO”), Peter David Harris (“HARRIS”), Lorne Neil Cire (“CIRE”), Christopher Andrew Burke (“BURKE”), Millard Michael Kwasnek (“KWASNEK”), and/or Joseph Yvan JeanClaude Thibert also known as John Thibert (“THIBERT”);

 

(C)       On May 18, 2016, this hearing matter came before a panel of the Commission;

 

(D)       Upon reviewing the documentary evidence and hearing the submissions of counsel for staff of the Commission, no one appearing for the respondents, and upon reviewing the Affidavits of Service, filed, and being satisfied as to service upon the respondents, the Commission is of the opinion that it is in the public interest to make this order.

 

IT IS ORDERED:

 

1.                            THAT, pursuant to section 148 of the Act, CIRE, THIBERT and KWASNEK cease trading in securities until December 14, 2018, except that each may trade in securities for his own account through a registrant, if he gives the registrant a copy of this order.

 

2.                            THAT, pursuant to subsection 19(5) of the Act, 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 CIRE, THIBERT and KWASNEK until December 14, 2018, except for those exemptions necessary to enable each to trade in securities in his own account.

 

3.                            THAT, pursuant to section 148.3 of the Act, CIRE resign any position he holds as a director or officer of an issuer, except he may continue to remain a director and officer of PARADOX provided PARADOX            does not issue securities and be prohibited from becoming or acting as a director or officer of any issuer until December 14, 2022, except he may continue to remain a director and officer of PARADOX provided PARADOX does not issue securities.

 

4.                            THAT, pursuant to section 148.3 of the Act, THIBERT resign any position he holds as a director or officer of an issuer and be prohibited from becoming or acting as a director or officer of any issuer until December 14, 2018.

 

5.                            THAT, pursuant to section 148.3 of the Act, KWASNEK resign any position he holds as a director or officer of an issuer and be prohibited from becoming or acting as a director or officer of any issuer until December 14, 2019.

 

6.                            THAT, pursuant to section 8 of the Act, CIRE, THIBERT and KWASNEK each be prohibited from becoming or acting as a registrant until December 14, 2018.

 

7.                            THAT, pursuant to section 148 of the Act, HARRIS and BURKE cease trading in securities until December 14, 2020, except that each may trade in securities for his own account through a registrant, if he gives the registrant a copy of this order.

 

8.                            THAT, pursuant to subsection 19(5) of the Act, 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 HARRIS and BURKE until December 14, 2020, except for those exemptions necessary to enable each to trade in securities in his own account.

 

9.                            THAT, pursuant to section 148.3 of the Act, HARRIS resign any position he holds as a director or officer of an issuer and be prohibited from becoming or acting as a director or officer of any issuer until December 14, 2025.

 

10.                         THAT, pursuant to section 148.3 of the Act, BURKE resign any position he holds as a director or officer of an issuer and be prohibited from becoming or acting as a director or officer of any issuer until December 14, 2020.

 

11.                         THAT, pursuant to section 8 of the Act, HARRIS and BURKE each be prohibited from becoming or acting as a registrant until December 14, 2020.

 

12.                         THAT, pursuant to section 148 of the Act, U-GO cease trading in securities permanently.

 

13.                         THAT, pursuant to subsection 19(5) of the Act, 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 U-GO permanently.

 

14.                         THAT, pursuant to section 148 of the Act, PARADOX cease trading in securities until December 14, 2018.

 

15.                         THAT, pursuant to subsection 19(5) of the Act, 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 PARADOX until December 14, 2018.

 

16.                         THAT, pursuant to section 148 of the Act, ECHO cease trading in securities until June 14, 2016.

 

17.                         THAT, pursuant to subsection 19(5) of the Act, 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 ECHO until June 14, 2016.

 

18.                         THAT, pursuant to subsection 148.4(2) of the Act, in the event of a respondent proceeding with an appeal of the BCSC Decision, and the appeal or other related proceedings resulting in a change to, or stay of, any portion of the BCSC Decision now reciprocated by this order as against the respondent, upon the request of said respondent or staff, this order be reviewed by the Commission as to any variation, substitution, revocation, or other order which may be required, if any.

 

BY ORDER OF THE COMMISSION

 

 

                                                                                    Deputy Director

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