gombah have you r3ead the info on the ASC site cause it says in there that the guy who started tsho is the guy who ran skymark and he and debeers know each other and it also says other stuff in there as well so maybe you should read it...i am not a smart guy but i aksed a buddy whose son is a lawyer and he tole me that anytime you file and i copy and pasted his emails to his son who gave them to me since i aksed him to ask his son and here is what he said.
Dad, it is not always so cut and dry but normally upon filing an appeal with any court and I am assuming the Alberta Securities Commission is a quasi-judicial body but there are a number of factors which could be at play. You write up your appeal and application with the idea you have reasonable grounds for doing so with reasonable grounds for thinking your application will be succesful. There is normally a cost associated with filing an appeal and this cost is not great in many cases although the legal fees can quickly add up but the overriding decision to file an appeal and expecting it to be successful is paramount at the outset. The client would have provided their attorney with the reasons why they feel the order put in place against them should be lifted and the legal team would have applied those reasons to whichever rules/regulations were deemed to have been breached resulting in the order being granted. The fact they did make the application and then withdrew it can mean a number of things and take your pick which one you might choose to be the real reason:
1)-There would be no material change of benefit to the company so the order remaining in place would have a limited effect on the company being able to conduct its business. I doubt this was the case as this may have presented itself as a possibility prior to making any application of appeal. You have to be clear between the material change of benefit to the company vs that of the shareholders.
2)-The legal team hired by the client may have made some discovery that would lead them to believe the application would not result in the order being lifted and cancelled the application saving the client some money as they would not have to pay to have legal counsel at the hearing which they likely would lose.
3)-The client could be attempting to remedy the situation or plea bargaining and resolve those issues which resulted in an order being granted rather than continue with the appeal process but again, those would have been considered options prior to an appeal being made.
From what I can gather after reading the order, it would have had a limited effect on the market place as it appears it only applies to residents of the province the alledged offense took place in. Unless the company explicitly states why it no longer is pursuing the appeal option you can only speculate as to why.
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