All BCSC cases where restitution may be available for BC victims are listed below.
StockDepot and Albert Stephen Budai
October 10, 2007
Order & Settlement Agreement
A Court order, made on October 9, 2007, requires StockDepot to pay to the BCSC all profits from the sale of its domain names. Under Section 15.1 of the Securities Act, when money is collected, the BCSC will notify the public who can then make a claim through the Court for their losses.
Backgrounder - Section 15.1
The BC Securities Act, Securities Regulation, and Securities Rules, as well as notices, instruments, and policy documents, regulate trading in securities and exchange contracts within British Columbia. The government of British Columbia introduced Section 15.1 to the Act, which came into effect on May 18, 2006.
Claim for wrongful benefit
15.1 (1) The commission must notify the public in accordance with the regulations if the commission receives money from an order made under section 155.1 (b) or 157 (1) (b).
(2) A person that makes a claim to money held by the commission under this section must file the claim in the Supreme Court within 3 years from the date of the first notification made under subsection (1) and file a copy of the claim with the commission.
(3) If the commission receives a copy of a claim under subsection (2), it must pay into court all of the money the commission receives from an order made under section 155.1 (b) or 157 (1) (b).
(4) If the commission has paid money into court under subsection (3), any money remaining after the court has adjudicated all claims made under subsection (2) in relation to the money must be paid to the commission.
(5) After 3 years from the date of the first notification made under subsection (1), the commission may retain any money not claimed under subsection (2).