from the Ontario Racing Commission

Toronto, ON — On May 10, 2006, the Executive Director of the Ontario Racing Commission issued a Notice of Proposed Order to suspend the ORC licences of Daniel Waxman and Vandalay Racing for five years with imposition of a C$100,000 fine pursuant to Sections 21 and 22 RCA 2000 for violation of the hidden ownership rule (11.08 – horses not under lease must race in the name of the bona fide owner).

On May 19, 2006, Waxman and Vandalay appealed the decision of the Executive Director.

On January 26, 2009, a Panel of the ORC, comprised of Chair Rod Seiling, Vice Chair James Donnelly and Commissioner Pam Frostad was convened to hear the appeal. Subsequent hearing dates included January 27 and 28, 2009 and May 4 and 21, 2009.

Trudy Mauth appeared as Counsel for the Administration. David Moore appeared as Counsel for Waxman and Vandalay.

David Moore filed a motion with the Panel seeking an Order staying the proceedings for “excessive delay” and failure to make “full and complete disclosure” or in the alternative, for further disclosure with adjournment pending such disclosure.

Upon hearing the evidence of Troy Moffatt, Micheal Elchyshyn, Maureen Harquail, Anthony Williams, Brian Greenspan, Jill Makepeace and Daniel Waxman, reviewing the exhibits filed and upon reviewing and considering the written closing submissions, the Panel dismisses the Motion to Stay filed by Waxman and Vandalay.

The Panel’s Reasons for Decision may be viewed by clicking on this link.