Receiver appointed by Ontario Superior Court of Justice: Distribution of proceeds recovered by the OSC to GITC investors
For Immediate Release Enforcement Other
On December 17, 2019, the Ontario Superior Court of Justice in Toronto, Canada appointed Grant Thornton Limited as receiver (“Receiver”) of funds (“Settlement Funds”) paid to the Ontario Securities Commission pursuant to a settlement agreement and order granted by the Ontario Securities Commission tribunal against GITC Investments and trading Canada Inc. and GITC, GITC Inc. and Amal Tawfiq Asfour (collectively “GITC”).
The Ontario Superior Court Order authorized the Receiver to implement a claims process (“Claims Process”) for all persons who invested money in GITC.
If you were an investor in GITC and did not receive a Notice of Claim from the Receiver (via regular mail or email), please go to the Receiver’s website at www.GrantThornton.ca/GITC for information on how you can make a claim under the Claims Process. You can also contact Mr. Jason Kanji of the Receiver’s office by telephone at 416-777-6136, fax at 416-360-4949 or by E-mail at [email protected].
GITC investors who wish to make a claim for money from the Settlement Funds are required to submit a completed Proof of Claim Form to Grant Thornton Limited on or before April 15, 2020.
The Receiver must receive completed Proof of Claim forms by 5:00 p.m. (Eastern Standard Time) on April 15, 2020.
CLAIMS THAT ARE NOT RECEIVED ON OR BEFORE APRIL 15, 2020 WILL BE BARRED AND EXTINGUISHED FOREVER.
Additional information and documents relating to the receivership can be found on Grant Thornton’s website.
Documents relating the Commission proceeding are available on the OSC website.