Background: The case involved appeals from decisions by the British Columbia Securities Commission concerning alleged market manipulation of Kunekt Corporation shares. Raffi Khorchidian, Garo Aram Deyrmenjian, and EHT were found to have contravened Section 57(a) of the Securities Act by creating an artificial price for Kunekt shares. David Craven was found to have authorized EHT’s contraventions under Section 168.2.

Legal Issues/Arguments: The appellants argued that the Commission made impermissible inferences and lacked territorial jurisdiction over them. EHT and Craven challenged the panel’s findings and the disposition of an application to revoke or vary the Commission’s decisions under Section 171 of the Securities Act.

Held: The appeals were dismissed. The court held that the panel’s inferences were supported by the evidentiary record and the Commission had a real and substantial connection to assert jurisdiction. The panel’s refusal to revoke or vary its findings was deemed reasonable and correctly applied.

Costs/Awards: There was no specific mention of costs or awards in favor of the successful party in the provided document.