TORONTO, Nov. 3, 2011 /CNW/ - On October 31, 2011, the Superior Court of
Justice (Divisional Court) dismissed two appeals of John Xanthoudakis
and Dale Smith in respect of two decisions by the OSC in the matter of
Norshield Asset Management.
In ruling on the first appeal, the Court upheld the OSC panel's February
3, 2009, decision to reject a motion seeking a stay of the OSC
proceeding. In its analysis, the Court found no reasonable
apprehension of bias to support the appellants' claims.
In ruling on the second appeal, the Court found the decision of the OSC
was careful, comprehensive and complete and that there was no basis on
which any finding could be made that the appellants, John Xanthoudakis
and Dale Smith, were denied a fair hearing by the OSC panel.
Copies of the Reasons for Judgment can be obtained through the Court.
SOURCE Ontario Securities Commission
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