Order: Ontario Securities Commission v Liquid Marketplace Inc.

Order
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ONTARIO SECURITIES COMMISSION
(Applicant)

- and -

LIQUID MARKETPLACE INC., LIQUID MARKETPLACE CORP.,
RYAN BAHADORI, AMIN NIKDEL and DENNIS DOMAZET
(Respondents)

File No. 2024-10

Adjudicator: James Douglas

October 21, 2026

ORDER

WHEREAS on October 20, 2026, the Capital Markets Tribunal held a hearing by videoconference to set a schedule for a sanctions and costs hearing in this proceeding;

ON hearing the submissions of the representatives for the Ontario Securities Commission and the representatives for Liquid Marketplace Inc., Liquid Marketplace Corp., Ryan Bahadori and Amin Nikdel (together, the Sanctions Respondents);

IT IS ORDERED THAT:

  1. by 4:30 p.m. on November 27, 2026, the Commission shall serve and file its written evidence and written submissions on sanctions and costs;
  2. by 4:30 p.m. on January 8, 2027, the Sanctions Respondents shall:
    1. serve and file their written evidence, if any, written submissions on sanctions and costs and any other materials they intend to rely on at the sanctions and costs hearing; and
    2. serve their witness summaries, if any;
  3. by 4:30 p.m. on January 18, 2027, the Commission shall serve and file written evidence and submissions on sanctions and costs in reply, if any; and
  4. the hearing with respect to sanctions and costs shall commence on January 28, 2026, and continue on January 29, 2027, commencing at 10:00 a.m. each hearing day, at 20 Queen Street West, 17th Floor, Toronto, Ontario, or as may be agreed to by the parties and set by the Governance & Tribunal Secretariat.
“James Douglas”
James Douglas