Court Dismisses Applications by John Xanthoudakis and Dale Smith regarding Norshield Asset Management matter

TORONTO – The Ontario Court of Appeal today dismissed the application by John Xanthoudakis and Dale Smith for leave to appeal the October 31, 2011 decision of the Ontario Superior Court of Justice (Divisional Court).

That decision unanimously upheld the previous decision of the Ontario Securities Commission to reject a motion by Mr. Xanthoudakis and Mr. Smith for a stay of Commission proceedings on the basis of a reasonable apprehension of bias.

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