The ASC application hearing that was originally scheduled for Dec 18, 2018 will now take place this coming Mon-Tue Jan 7-8, 2019. What is this hearing about, and why is it two days long instead of the original single day? Scuttlebut has it that the defence counsel really, really want to delay these proceedings until the representative action is completed – and with no wonder because a conviction here will cripple their ability mount a strong defence against the representative action later.
Will they be successful? Based on a review of the transcript from the August, 2018 hearing to set the date to hear arguments on the merits of the case, I got the distinct impression defence’s strategy is to throw everything they can at this case in an effort to obfuscate the facts and delay resolving it as long as possible. The hearing adjudicators basically ignored defence’s argument to delay a hearing on the merits until Fall/Winter 2019 and set a start date in May 2019. (If counsel for the ASC had gotten their way, the hearing would’ve started in Feb, 2019).
What will this hearing be about? What will they decide? We’ll find out next week.
I’d note that these hearings are open to the public, and an expression of interest by the people affected by this travesty will have an impact on the Commission. If you can be at the Alberta Securities Commission, Hearing Room, 5th Floor, 250 – 5th Street SW, Calgary (map), Jan 7-8, 2019 then please consider attending. Any inquiries, etc. can be directed to their official contact which is here.