Proceedings

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IN THE MATTER OF THE SECURITIES ACT,
R.S.O. 1990, c. S.5, as amended

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IN THE MATTER OF
PHILIP SERVICES CORP., ALLEN FRACASSI, PHILIP FRACASSI,
MARVIN BOUGHTON, GRAHAM HOEY, COLIN SOULE, ROBERT WAXMAN
AND JOHN WOODCROFT

NOTICE OF HEARING
(Section 127)

TAKE NOTICE that the Ontario Securities Commission (the "Commission") will hold a hearing pursuant to section 127 of the Securities Act, R.S.O. 1990, c.S.5, as amended (the "Act") at the offices of the Commission, on the 17 th Floor, Large Hearing Room , 20 Queen St. West, Toronto, Ontario commencing on Wednesday, September 27, 2000 at 10:00 a.m. or as soon thereafter as the hearing can be held:

TO CONSIDER whether, pursuant to sections 127(1) and 127.1 of the Act, it is in the public interest for the Commission to make an order that:

(a) the Respondents cease trading in securities, permanently or for such time as the Commission may direct;

(b) the individual Respondents be prohibited from becoming or acting as a director or officer of any issuer, permanently or for such period as the Commission may direct;

(c) the individual Respondents resign any positions they may have as a director and/or officer of any issuer;

(d) the Respondents be reprimanded;

(e) the Respondents, or any of them, pay the costs of Staff = s investigation and this proceeding; and/or

(f) contains such other terms and conditions as the Commission may deem appropriate.

BY REASON OF the allegations set out in the Statement of Allegations of Staff of the Commission and such additional allegations as counsel may advise and the Commission may permit;

AND TAKE FURTHER NOTICE that any party to the proceeding may be represented by counsel if that party attends or submits evidence at the hearing;

AND TAKE FURTHER NOTICE that upon failure of any party to attend at the time and place aforesaid, the hearing may proceed in the absence of that party and such party is not entitled to any further notice of the proceeding.

DATED at Toronto , Ontario this “30 th” day of August, 2000.

 

”John Stevenson"
John Stevenson,
Secretary to the Commission

TO: PHILIP SERVICES CORP.
c/o Patrick O = Kelly
Stikeman, Elliott
Commerce Court West
Suite 5300, P.O. Box 85
Stn. Commerce Court
Toronto , Ontario M5L 1B9

TO: ALLEN FRACASSI
c/o Joseph Groia
Groia & Company
P.O. Box 156, Suite 2880
Royal Bank Plaza, South Tower
Toronto, Ontario M5J 2J4

TO: PHILIP FRACASSI
c/o Joseph Groia
Groia & Company
P.O. Box 156, Suite 2880
Royal Bank Plaza, South Tower
Toronto, Ontario M5J 2J4

TO: MARVIN BOUGHTON
c/o Joseph Groia
Groia & Company
P.O. Box 156, Suite 2880
Royal Bank Plaza, South Tower
Toronto, Ontario M5J 2J4

TO: GRAHAM HOEY
c/o Joseph Groia
Groia & Company
P.O. Box 156, Suite 2880
Royal Bank Plaza, South Tower
Toronto, Ontario M5J 2J4

TO: COLIN SOULE
c/o Jim Douglas
Borden Ladner Gervais LLP
Scotia Plaza
40 King Street West
Toronto, ON M5H 3Y4

TO: ROBERT WAXMAN
c/o Alan Lenczner
Lenczner Slaght Royce Smith Griffin
130 Adelaide Street West
Suite 2600
Toronto , ON M5H 3P5

AND TO:

JOHN WOODCROFT
c/o Joseph Groia
Groia & Company
P.O. Box 156, Suite 2880
Royal Bank Plaza, South Tower
Toronto, Ontario M5J 2J4