November 16, 2018
SEC EB CASE NO. 02-18-438
SHP-1's Dismissal of Petition due to Lack of Jurisdiction
IN RE: PETITION FOR REHABILITATION AND FOR DECLARATION IN A STATE OF SUSPENSION OF PAYMENTS
STANDFORD RESOURCES AND DEVELOPMENT CORP., appellant.
DECISION
This resolves the Appeal of the Orders dated 18 October 2017 and 29 January 2018 of the Commission's SPECIAL HEARING PANEL 1 (SHP-1), where Appellant STANDFORD RESOURCES AND DEVELOPMENT CORP. (STANDFORD)'s Petition for Rehabilitation and for Declaration in a State of Suspension of Payments was dismissed for lack of jurisdiction.
RELEVANT FACTS
PART 1
Proceedings from 1999-2002
On 3 March 1999, STANDFORD filed its Petition for Rehabilitation and for Declaration in a State of Suspension of Payments with the Commission.
On 9 March 1999, the Commission En Banc issued an Order suspending all actions pending against STANDFORD before "any court, tribunal, office, board, body, and/or commission" until further notice (SUSPENSION ORDER).
On 14 April 1999, the Commission En Banc issued an Order extending the suspension of all pending actions against STANDFORD.
On 8 August 2000, the Securities Regulation Code of 2000 (SRC), which was signed into law on...
