36
Law
Daily business news at www.biv.com September 13–20, 2011
Trouble
DISCIPLINE •British Columbia
Securities Commission
As part of a settlement agreement with the British Columbia Securities Commission (BCSC), a mortgage broker based in B.C. has paid $7,000 for trading without registration, the regulator announced August 31. The agreement states that Don Maxwell provided promotional information to one of his mortgage clients about investing in GoldQuest, a company with offices in Las Vegas, NV, that claimed to be involved in foreign exchange trading. The client invested a total of USD$223,000. In addition to the $7,000 payment, the BCSC has also ordered that Maxwell cease trading any securities or exchange contracts, except that he may trade: • securities in accounts in his own name with a person registered to trade in securities under the Act; and • non-syndicated mortgages as long as he is registered under the Mortgage Brokers Act. Maxwell is also prohibited from becoming or acting as a registrant, investment fund manager or promoter, acting in a
management or consultative capacity in connection with activities in the securities market or engaging in investor relations activities for a period of five years.
•Law Society of B.C.
A Law Society hearing panel has ordered the suspension of Kelowna lawyer Douglas W. Welder for 45 days for his deliberate and prolonged failure to co-operate with Law Society investigators during an investigation, the regulator announced September 1. Welder was found to have failed to respond to questions in letters from the society and to respond to a request to provide details of bank accounts. These failures amounted to professional misconduct, and Welder will not be permitted to practise law during the suspension, which takes effect October 1, 2011. The Law Society is mandated to protect the public interest and will continue to pursue ongoing investigations. To that end, if a lawyer does not co-operate with an investigation, he or she may face disciplinary action, as in this case. The ongoing investigation by the Law Society involves an allegation that Welder
participated in a fraudulent investment scheme. The probe has faced obstacles because of Welder’s failure to co-operate. Welder has now complied with the Law Society’s requests for information. The investigation into Welder’s alleged participation in the fraudulent investment scheme has been slowed by his misconduct but the society is working to bring it to a conclusion.
BUYER’S ALERT Companies listed below,
which are not members of the Better Business Bureau, have failed to respond, as of September 2, 2011, to Better Business Bureau of Mainland B.C.’s efforts to mediate complaints from August 22 to August 26, 2011. In some instances, the company may have taken care of the complaint and considered the matter closed, or may believe the complaint is unjustified; however, if the BBB has not received a response, records cannot reveal either position. Please note that BBB members must respond to customer complaints that are brought to their attention. Source: BBB. Bang On T Shirts Ltd., Surrey Bugden Audio, Kamloops Cana Creek, Vancouver
Canadian Tire, Vancouver CashX LLC, Vernon Cheeki Cherry, Chilliwack dvdlink.ca, Surrey Graoch Associates, Vancouver Iris Optometrists & Opticians #688, Richmond Kai Mei Trading Ltd., Burnaby Kokanee Beach Resort Motel, Winfield Kustom Works, Quesnel Lingerie Surplus, Burnaby Little Shop of Beauty, North Vancouver Lucinda Jewellers, Surrey Lucky Star Motors, Vancouver Our Little Secret Corp., Vancouver Pricks Of The Trade, Coquitlam Star Rebates, Burnaby The Pretty Boutique, Vancouver Tubmasters, Port Coquitlam The following companies have responded to the BBB subsequent to being published: Jolly Days Fashion, Burnaby Valley Blinds Inc., Surrey
Who’s Getting Sued These corporate writs were
filed with the B.C. Supreme Court registry in Vancouver. Information is derived from notices of civil claim. Civil
claims have yet to be proven in court. Defendants: Interpac Forest Products Ltd. and Inter Coast Towing Ltd. and DRM Coast Towing Ltd. and Elkin Creek Ranch Ltd. and David Milne and Susan Milne 9701 201st St., Langley and 10362 Allard Cres., Langley Plaintiff: Bank of Montreal 20th floor, 250 Howe St., Vancouver Claim: $3,768,852 against Forest Products and DRM Holdings for debt; $2,000,000 against Inter Coast Towing as a guarantor of the debt; $3,000,000 against Elkin Creek as a guarantor; $2,650,000 against David Milne and Susan Milne as guarantors; a declaration the general security agreement is in default; a declaration the bank is entitled to a security interest in Interpac’s present property; enforcement of the security interest created by the general security agreement by sale; possession of Interpac’s property, rights, assets and undertakings; and appointment of a receiver-manager of the collateral of Interpac with all proper powers and authorities. Defendants: Delta Pacific
Lumber Sales Inc. and Interpac Forest Products Ltd. and DRM Holdings Co. Ltd. and Elkin Creek Ranch Ltd. and Semiahmoo Lumber Co. Ltd. and John Lewsley and David R. Milne 106–15585 24th Ave., Surrey and 9701 201st St., Langley and 10362 Allard Cres., Langley and 1908 Ocean Wind Dr., Surrey Plaintiff: Bank of Montreal 20th floor, 250 Howe St., Vancouver Claim: $891,125 for debt; a declaration the general security agreement is in default; a declaration the bank is entitled to a security interest in Delta’s present property; enforcement of the security interest; possession of Delta’s property, rights, assets and undertakings; and appointment of a receiver-manager of the collateral of Delta with all proper powers and authorities. Defendant: International Eco-Fuels Inc. 916 2nd Ave., Beaverlodge, AB Plaintiff: Global Spectrum Facility Management LP 700–686 W. Broadway, Vancouver Claim: $227,804 pursuant to a suite licence agreement. Defendants: Aly B. Mawji