Securities Decisions and Freeze and cease trade orders
Montréal – At the request of the Autorité des marchés financiers (AMF), the Bureau de décision et de révision en valeurs mobilières (BDRVM), in a decision dated July 14, 2006, has extended for a further 90 days as of this decision the freeze orders issued against the assets of Martin Tremblay on January 27 and February 10, 2006.
These conservatory measures are intended to ensure that investors are protected while the AMF pursues its investigation. At the latest court hearings, the AMF argued that the reasons for the initial freeze order had not changed and it was pursuing its investigation.
However, the BDRVM partially lifted the freeze on two accounts belonging to Martin Tremblay further to the judgment handed down on May 23, 2006 by the Superior Court that enabled the Québec Deputy Minister of Revenue to initiate collection measures such as the seizure of the two bank accounts. The funds deposited in the two accounts totalled approximately $39,000. The AMF did not object to the partial lifting of the freeze order.
On January 27, 2006, the BDRVM issued a freeze order on the funds, securities and other assets of Martin Tremblay and Dominion Investments. The AMF had made the request further to recent accusations brought against Martin Tremblay and in light of the investigation it was conducting into Mr. Tremblay and Dominion Investments.
On February 10, 2006, the BDRVM ordered BMO Nesbitt Burns, MRF Consulting Ltd, the Kenneth W. Salomon Investment Fund Ltd. and Jones Gables & Compagnie Ltée not to dispose of the funds, securities or other assets of Martin Tremblay. As well, it ordered Martin Tremblay not to withdraw funds from the accounts belonging to the Kenneth W. Salomon Investment Fund Ltd. and MRF Consulting Ltd.
The BDRVM renewed the two orders on April 26, 2006.
The Autorité des marchés financiers (AMF) is the regulatory and oversight body for Québec’s financial sector.
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Frédéric Alberro (514) 940-2176
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