Settlements

ARLITT FINANCIAL CORPORATION, et. al. [Agreed Stmt]

BCSECCOM #:
Document Type:
Agreed Stmt
Published Date:
1998-08-14
Effective Date:
1998-08-12
Details:


IN THE MATTER OF THE SECURITIES ACT
R.S.B.C. 1996, c. 418

AND

IN THE MATTER OF ARLITT FINANCIAL CORPORATION
AND JOHN LOUIS ARLITT


Agreed Statement of Facts and Undertaking


The following agreement has been reached between Arlitt Financial Corporation (the “Issuer”), John Louis Arlitt (“Arlitt”) and the Executive Director:

1. As the basis for the order and undertakings referred to below, the Issuer and Arlitt acknowledge the following facts as correct:
      (a) the Issuer is incorporated under the Company Act, R.S.B.C. 1996, c. 62 on July 15, 1998. John Louis Arlitt is the president of the Issuer;

      (b) Arlitt utilizes the name of the Issuer on material that he disseminates;

      (c) on December 8, 1998, Arlitt signed a public relations agreement, on behalf of the Issuer with Consolidated Interstat Ventures Inc. (“Interstat”), which is a reporting issuer in British Columbia;

      (d) on March 17, 1998, Interstat sent a letter to the Issuer stating that the existing public relations agreement was discontinued;

      (e) on February 1 and 10 , 1998 and March 1 and 10, 1998, the Issuer and Arlitt prepared and disseminated to persons in British Columbia and to others documents titled, “The Professional Trader” (the “Trader”), which related the affairs of Interstat;

      (f) the Trader contained statements relating to Interstat that were made with the intention of effecting a trade in a security, which the Issuer and Arlitt knew or ought reasonably to have known were misrepresentations, contrary to section 50(1)(d) of the Securities Act, R.S.B.C. 1996, c. 418 (the “Act”);

      (g) the Trader failed to disclose that it was issued on behalf of Interstat, contrary to section 52(2) of the Act.

      (h) in February and March of 1998, neither the Issuer nor Arlitt were registered in any capacity under the Act; and

      (i) in March 1998, on at least two separate occasions, Arlitt advised a person to purchase the securities of Interstat, contrary to section 34(1)(a) and(c) of the Act.

      (j) Staff of the British Columbia Securities Commission (the “Commission”) acknowledges that the Issuer and Arlitt have co-operated fully in providing information with respect to this matter.

2. The Issuer and Arlitt undertake to:
      (a) permanently refrain from distributing any copies of the February 1 and 10, 1998 and March 1 and 10, 1998 copies of the Trader;

      (b) comply fully with the provisions of the Act, Securities Rules, all applicable securities regulations, all policies, guidelines, notices and rulings issued by the British Columbia Securities Commission (the “Commission”) from the date of this agreement; and

      (c) pay the sum of $5,000.00 to the Commission.
3. The Issuer and Arlitt waive any right they have, under the Act or otherwise, to a hearing, hearing and review, judicial review or appeal related to, in connection with, or incidental to this agreement.

DATED at Vancouver, British Columbia, on August 4, 1998.



_____________________________)
Witness Signature)
)
Letizia Grigoletto________________)
Witness Name (Please print))
c/o B.C. Securities Commission)_______________________
200 - 865 Hornby St. Vancouver, BC)Arlitt Financial Corporation
Address)(Signing Authority)
)
Branch Secretary_______________)
Occupation)

DATED at Vancouver, British Columbia, on August 4, 1998.



_____________________________)
Witness Signature)
)
Letizia Grigoletto_______________)
Witness Name (Please print))
c/o B.C. Securities Commission)_______________________
200 - 865 Hornby St. Vancouver, BC)John Louis Arlitt
Address)
)
Branch Secretary_______________)
Occupation)

DATED at Vancouver, British Columbia, on August 12, 1998.





John A (Sandy) MacDonald
A/Executive Director
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