Order: In the Matter of 2950995 Canada Inc. et al.
R.S.O. 1990, c. S.5, AS AMENDED (the "Act")
IN THE MATTER OF
2950995 CANADA INC., 153114 CANADA INC., JACKAUSTIN, SUZANNE AYSCOUGH, MARY BRADLEY, GUSTAVO CANDIANI,PATRICIA CARSON, STEPHEN CARSON, LUCY CATERINA, MICHELINECHAREST, MARK CHERNIN, ALISON CLARKE, SUSANNAH COBBOLD, MARIE-JOSÉE CORBEIL, JANET DELLOSA, FRANÇOIS DESCHAMPS, MARIE-LOUISEDONALD, KELLY ELWOOD, DAVID FERGUSON, LOUIS FOURNIER, JEANGAUVIN, JEFFREY GERSTEIN, BENNY GOLAN, MENACHEM HAFSARI, AMIRHALEVY, JERRY HARGADON, KAREN HILDERBRAND, JORN JESSEN, BRUCE J.KAUFMAN, MOHAMED HAFIZ KHAN, KATHY KELLEY, PHILLIP KELLEY, LORIEVANS LAMA, PATRICIA LAVOIE, MICHAEL LÉGARÉ, PIERRE H. LESSARD,CAROL LOBISSIER, RAYMOND McMANUS, MICHAEL MAYBERRY, SHARONMAYBERRY, PETER MOSS, MARK NEISS, GIDEON NIMOY, HASANAIN PANJU,ANDREW PORPORINO, STEPHEN F. REITMAN, JOHN REYNOLDS, MARIO RICCI,LOUISE SANSREGRET, CASSANDRA SCHAFHAUSEN, ANDREW TAIT, LESLEYTAYLOR, KIM M. THOMPSON, DANIEL TIERNEY, BARRIE USHER, RONALD A.WEINBERG, LAWRENCE P. YELIN AND KATH YELLAND
WHEREAS on April 20, 2000, the Director of the Ontario Securities Commission("the Commission") made a temporary order pursuant to subsection 127(5) of theSecurities Act, R.S.O. 1990, c. S.5, as amended (the "Act"), that none of the Respondentsshall trade in any securities of CINAR Corporation ("CINAR"), subject to the terms set outin the order, for a period of 15 days from the date of the order (the "Temporary CeaseTrading Order");
AND WHEREAS on April 27, 2000 the Commission issued a Notice of Hearingpursuant to subsection 127(9) of the Act;
AND WHEREAS it appears to the Ontario Securities Commission ("theCommission") that:
1. CINAR Corporation ("CINAR") is incorporated under the laws of Canada and is areporting issuer in the Province of Ontario;
2. Each of Jack Austin, Suzanne Ayscough, Stephen Carson, Lucy Caterina, MarkChernin, Marie- Josee Corbeil , Francois Deschamps, Marie -Lousie Donald ,Kelly Elwood, Louis Fournier, Jean Gauvin , Jeffrey Gerstein, Patricia Lavoie,Pierre H. Lessard, Raymond McManus, Michael Mayberry, Peter Moss , HasanainPanju, Andrew Porporino, Stephen F. Reitman, Mario Ricci, Louise SansregretCassandra Schafhausen, Lesley Taylor, Barrie Usher, Ronald A. Weinberg , andLawrence P. Yelin, (the "Respondents") is, or was during the financial year ofCINAR ended November 30, 1999, a director, an officer or an insider of CINAR.
3. CINAR failed to file annual financial statements for its financial year endedNovember 30, 1999 (the "1999 financial statements") on or before April 18, 2000,contrary to subsection 78(1) of the Act.
4. As of the date of this order, CINAR has not filed its 1999 financial statements.
5. By virtue of their relationship to CINAR, each Respondent has, or has access to,information regarding the affairs of CINAR that has not been generally disclosed.
AND WHEREAS the Commission is of the opinion that is in the public interest tomake this Order;
IT IS ORDERED pursuant to paragraph 2 of subsection 127(1) of the Act that alltrading, whether direct or indirect, by the Respondents in the securities of CINAR shallcease until:
(a) two full business days following the receipt by the Commission of all filings CINARis required to make pursuant to Ontario securities law; or
(b) further order of the Commission.
May 9th, 2000."J. A. Geller"
"Morley P. Carscallen"
"R. Stephen Paddon"