Settlements

Michael Hretchka, et al. [Sec. 144]

BCSECCOM #:
Document Type:
Sec. 144
Published Date:
1993-05-14
Effective Date:
1993-05-07
Details:


IN THE MATTER OF the Securities Act, S.B.C. 1985, chapter 83
AND IN THE MATTER OF Michael Hretchka
AND IN THE MATTER of Chromex Nickel Mines Ltd.
and Kleena Kleene Gold Mines Ltd.
Order Under Section 144
D.E. Holley
May 7, 1993

ORDER:--  WHEREAS an Agreed Statement of Facts was executed between Michael Hretchka ("Hretchka"), Chromex Nickel Mines Ltd. ("Chromex") and Kleena Kleene Gold Mines Ltd. ("Kleena Kleene") and the Superintendent of Brokers (the "Superintendent") a copy of which is attached hereto as Schedule "A";

NOW THEREFORE, the Superintendent considering it would be in the public interest to do so, orders, BY CONSENT, that pursuant to section 144(1)(d) of the Securities Act, S.B.C. 1985, c. 83, Hretchka is prohibited from becoming or acting as a director or officer of any reporting issuer for a period expiring April 2, 2003, except that Hretchka may, after a majority of the minority shareholders of each company approve, act as a director of Chromex, Kleena Kleene or Maiden Creek Mining Company Inc.

D.E. HOLLEY
Superintendent of Brokers


* * * * *
SCHEDULE "A"
Agreed Statement of Facts

The following agreement has been reached between Michael Hretchka ("Hretchka), Chromex Nickel Mines Ltd. ("Chromex"), Kleena Kleene Gold Mines Ltd. ("Kleena Kleene") and the Superintendent of Brokers (the "Superintendent");

1.As the basis for an order of the Superintendent under Section 144(1)(d) of the Securities Act, S.B.C. 1985, c. 83, (the "Act") Hretchka, Chromex and Kleena Kleene acknowledge the following facts as correct:
(a)Chromex and Kleena Kleene are incorporated under the Canada Business Corporation Act, R.S.C. 1985, c. C-44 (the "CBCA") and are reporting issuers under the Act;
(b)Hretchka was at all relevant times the president and a director of Chromex and Kleena Kleene;
(c)the common shares of Chromex and Kleena Kleene were listed on the Vancouver Stock Exchange (the "Exchange") on July 20, 1983 and August 14, 1978 respectively.  The commons shares were delisted on March 2, 1990 for failure to pay, at the direction of Hretchka, the 1990 sustaining fees;
(d)Hretchka was responsible for maintaining the corporate and financial records of Chromex and Kleena Kleene. Hretchka failed to adequately record certain term deposits of Chromex and Kleena Kleene in each respective corporate name;
(e)Hretchka caused Chromex and Kleena Kleene to retain a person who was not qualified nor sufficiently experienced to prepare audited financial statements and that person did prepare and file audited financial statements for those companies for the years 1985 to 1988 inclusive;
2.Hretchka consents to the order of the Superintendent under Section 144(1)(d) of the Act that he be prohibited from becoming or acting as a director or officer of any reporting issuer for a period of ten years from the date of this order except that after having obtained approval of the majority of the minority shareholders of each company Hretchka may act as a director or officer of Chromex, Kleena Kleene or Maiden Creek Mining Company Inc.;
3.Hretchka, Chromex and Kleena Kleene waive any right they may have, under the Act, to a hearing, hearing and review, judicial review or appeal related to, in connection with or incidental to this agreement and related orders;
4.Chromex, Kleena Kleene and Hretchka agree to abandon all outstanding actions against all named defendants in each action without cost to any parties and agree that no further actions regarding these proceedings or the facts upon which they are based will be instituted as follows:
(a)Consent Dismissal Orders will be filed on each of the following actions:
(i)Action No. A922754 in the Supreme Court of British Columbia (SCBC) regarding "institutional bias";
(ii)Action No. A920749 in the SCBC regarding an action for damages;
(iii)Action No. C930881 in the SCBC regarding an action for damages relating to failure to release funds;
(b)Notice of Abandonment of Appeal will be entered in each of the following Court of Appeal Actions:
(i)Appeal No. CA015296 regarding an appeal of the judgment of Madam Justice Saunders;
(ii)Appeal No. CA015389 regarding an appeal from the order of Mr. Justice Bouck striking out a portion of the Statement of Claim in the damages action;
(iii)Appeal No. CA015236 regarding an application to appeal the decisions by Mr. Hyndman's allegedly refusing to release funds;
(iv)Appeal No. CA015187 regarding an appeal from the order of the Honourable Mr. Justice Macdonald;
(vi)Appeal No. CA015779 a Notice of Appeal from the reasons for judgment of the Honourable Madam Justice Saunders;
(c)Further, any and all court proceedings or hearing proceedings relating to the above matters are to be abandoned or dismissed without costs to any parties.
May 7, 1993 D. HOLLEY
Superintendent of Brokers
DATED at Vancouver, British Columbia, on the 2nd day of April, 1993.

Witness:

KATHLEEN BARONE)
2838 Grant St.)MICHAEL HRETCHKA
Van. B.C.  V5L 3H3 )Chromex Nickel Mines Ltd.
Witness:

KATHLEEN BARONE)
2838 Grant St.)MICHAEL HRETCHKA
Van. B.C.  V5L 3H3 )Kleena Kleene Gold Mines Ltd.
Witness:

KATHLEEN BARONE)
2838 Grant St.)MICHAEL HRETCHKA
Van. B.C.  V5L 3H3 )