IN THE MATTER OF THE SECURITIES ACT, R.S.O. 1990, c. S.5, AS AMENDED AND IN THE MATTER OF MORGAN DRAGON DEVELOPMENT CORP., JOHN CHEONG (aka KIM MENG CHEONG), HERMAN TSE, DEVON RICKETTS and MARK GRIFFITHS
WHEREAS on March 22, 2012, the Ontario Securities Commission (the "Commission") issued a Notice of Hearing pursuant to section 127 of the Securities Act, R.S.O. 1990, c. S.5, as amended (the "Act") in connection with a Statement of Allegations filed by Staff of the Commission ("Staff") on March 22, 2012, to consider whether it is in the public interest to make certain orders against Morgan Dragon Development Corp. ("MDDC"), John Cheong (aka Kim Meng Cheong) ("Cheong"), Herman Tse ("Tse"), Devon Ricketts ("Ricketts") and Mark Griffiths ("Griffiths");
AND WHEREAS on March 26, 2012, the Commission issued an Amended Notice of Hearing pursuant to sections 127 and 127.1 of the Act;
AND WHEREAS on March 25, 2013, at Staff's request and on consent of counsel for MDDC, Cheong, Tse and Ricketts, the Commission ordered that the hearing on the merits proceed as a written hearing pursuant to Rule 11.5 of the Commission's Rules of Procedure (2012), 35 O.S.C.B. 10071 (the "Rules of Procedure") and set a schedule for written submissions by the parties (Re Morgan Dragon Development Corp. et al. (2013), 36 O.S.C.B. 3166);
AND WHEREAS on April 9, 2013, the Commission granted leave for Crawley Meredith Brush Mackewn LLP to withdraw as representative for Ricketts, pursuant to Rule 1.7.4 of the Rules of Procedure (Re Morgan Dragon Development Corp. et al. (2013), 36 O.S.C.B. 4211);
AND WHEREAS on April 10, 2013, Commission approved a settlement agreement between Staff and MDDC, Cheong and Tse (Re Morgan Dragon Development Corp. et al. (2013), 36 O.S.C.B. 4212);
AND WHEREAS following a written hearing on the merits, the Commission issued its Reasons and Decision with respect to the merits on April 15, 2014;
IT IS ORDERED that:
1. Staff shall serve and file written submissions on sanctions and costs by 4:00 p.m. on May 6, 2014;
2. The Respondents shall serve and file responding written submissions on sanctions and costs by 4:00 p.m. on May 27, 2014;
3. Staff shall serve and file reply written submissions on sanctions and costs, if any, by 4:00 p.m. on June 6, 2014;
4. the hearing to determine sanctions and costs will be held at the offices of the Commission at 20 Queen Street West, 17th floor, Toronto, ON, on June 12, 2014, at 10:00 a.m., or such further or other dates as agreed by the parties and set by the Office of the Secretary; and
5. 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 this 15th day of April, 2014.