Permanent Cease and Desist Order Against Khalil (Evan) Abraham Ismaeli aka Khalil Asmail and Top Defence Inc.

REGARDING the Insurance Act, R.S.O. 1990, Chapter I.8, as amended, in particular section 441

AND REGARDING a Proposed Permanent Cease and Desist Order against Khalil (Evan) Abraham Ismaeli aka Khalil Asmail and Top Defence Inc.

AND REGARDING an Interim Cease and Desist against Khalil (Evan) Abraham Ismaeli aka Khalil Asmail and Top Defence Inc.


NOTICE OF PERMANENT CEASE AND DESIST ORDER

Subsection 441(2)of the Insurance Act, (the “Act”), provides that where the Superintendent is of the opinion that a person has committed or is committing any act, or has pursued or is pursuing any course of conduct, that is an unfair or deceptive act or practice, or might reasonably be expected to result in a state of affairs that would constitute an unfair or deceptive act or practice, the Superintendent may give notice in writing of his intention to order any person to cease or refrain from doing any act or pursuing any course of conduct identified by the Superintendent or to perform such acts that, in the opinion of the Superintendent, are necessary to remedy the situation. Within 15 days of receiving the notice, a person may request in writing that the Financial Services Tribunal hold a hearing before the Superintendent takes any action described in the notice.

Subsection 441(4) of the Act provides that if the Superintendent is of the opinion that the interests of the public may be adversely affected by any delay in the issuance of the order, the Superintendent may, without prior notice, make an interim order which takes effect immediately and which shall become permanent on the 15th day after its making unless within that time a hearing is requested.

On June 14, 2005, the Superintendent issued a notice under subsection 441(2) and an Interim Cease and Desist Order under subsection 441(4) of the Act. A request for hearing before the Financial Services Tribunal (“Tribunal”) was made by Khalil (Evan) Ismaeli, however, no further steps were taken to perfect the request for hearing.

On October 20, 2005, by Notice of Dismissal, the Tribunal dismissed the proceeding. Accordingly, no proper request for hearing was filed with the Tribunal and in accordance with subsection 441(4) of the Act, the Interim Cease and Desist Order became permanent on June 30, 2005.

The Superintendent confirms that the Interim Cease and Desist Order dated June 14, 2005, (attached) is a Permanent Order as of June 30, 2005.

DATED at the City of Toronto on the 1st day of November, 2005.

 

___________________
Robert Christie
Superintendent of Financial Services

TO:

Khalil (Evan) Abraham Ismaeli aka Khalil Asmail
333 Shepherd Avenue East, Suite 100
Toronto M2N 3B3

AND TO:

Top Defence Inc.
333 Shepherd Avenue East, Suite 100
Toronto M2N 3B3