The Globe and Mail reports in its Tuesday edition that an enforcement hearing against investment fund manager Emerge Canada Inc. was postponed Monday after company founder and chief executive officer Lisa Langley said she could not arrive in time owing to travel delays in the United States. The Globe's Clare O'Hara writes that Ontario's Capital Markets Tribunal granted Ms. Langley and Emerge Canada a one-day adjournment after she sent several e-mails notifying the tribunal about her connecting flight from Atlanta being cancelled. The dates for the hearing were scheduled last year, and it was expected to start Monday morning at 10 a.m. The case involves four other respondents who were all present with their lawyers at the tribunal's Toronto office on Monday morning. It is not the first time Ms. Langley has asked for extensions. Earlier this year, Ms. Langley and Emerge asked for the hearing to be adjourned, as well as extensions for certain deadlines leading up to the hearing. The tribunal dismissed the requests. The OSC alleges Emerge Canada, Ms. Langley and chief financial officer Desmond Alvares improperly borrowed almost $6-million of investor money from funds they managed to cover the company's operating expenses.
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