Toronto ON, September 12, 2014
– Craig Terry Investments Ltd. and 1552558 Ontario Inc. o/a Drivetime have had their registrations revoked after abandoning appeals of OMVIC’s revocation proposal. Micheline Cooper, operator of the two dealerships also withdrew her appeal of OMVIC’s refusal to grant her a sales licence and licences for two other dealerships she wanted to open. As a result, neither Cooper nor either dealership may legally buy, sell or lease vehicles in Ontario.
OMVIC suspended Craig Terry Investments Ltd. and Drivetime and issued the proposals to revoke/refuse registration after the regulator received very serious complaints from consumers. According to Terry O’Keefe, OMVIC Director of Communications, some of the consumers claimed to have suffered serious financial losses. “It’s hoped many of these consumers will be eligible to file claims with the Motor Vehicle Dealers Compensation Fund”. The Fund is financed by dealers and compensates consumers up to $45,000 per eligible claim.
The proposal to revoke the registration of Ryan MacLennan (former Craig Terry Investments Ltd. sales and finance manager) and his dealership The Auto Bank remains before the Licence Appeals Tribunal (LAT). Both may legally operate pending the outcome of a future hearing.
Note: There are other registered dealers in Ontario using the business name Drivetime – they are not affiliated with Drivetime in Sudbury. Further, no individual named Craig Terry is party to any of the proceedings referenced above.
Ontario’s Motor Vehicle Dealers Act (MVDA) requires all dealers and salespeople be registered with OMVIC. Unregistered selling (curbsiding) is a serious offence: individuals can be fined $50,000 and be jailed for up to two years less a day.
OMVIC (Ontario Motor Vehicle Industry Council) administers and enforces the Motor Vehicle Dealers Act (MVDA) on behalf of the
Ministry of Government and Consumer Services. OMVIC maintains a fair and informed vehicle sales marketplace by regulating dealers and salespersons, regularly inspecting Ontario's 8,000 dealerships and 25,000 salespeople, maintaining a complaint line for consumers and conducting investigations and prosecutions of industry misconduct and illegal sales (curbsiding). OMVIC is also responsible for administering the Motor Vehicle Dealers Compensation Fund on behalf of its
Board of Trustees.
For More Information:
Director of Communications