CEF/DIL: ASC Application Hearing Update

Counsel for the prosecution and the defense have made their case. As I expected, counsel for the defense want to delay the proceedings until the representative action has concluded, or have the proceedings sealed so they cannot be used against them when the representative action commences.

Considering that the AB real-estate market is somewhere between “terrible” and “abysmal” due to the current oil-bust, selling the Tuscany property could take a while. All told the time it would take to sell the property, conclude the CCAA process, pursue and then conclude the representative action could be measured in years.

Many of the witnesses are old and some have already been called to the church triumphant.  Memories fade over time. These facts combined with the amount of time it would take to wait for the representative action to complete and – from where I’m sitting – the effect of granting defenses’ petition to wait would be about as close to an acquittal as one could hope for without getting an official ruling.

What will the ASC decide to do? They have updated their proceedings page to indicate that a ruling will be returned on Jan 21, 2019 @ 2PM local time.

Update 2019-01-10:  Changed “church militant” (ie, the church on earth) to “church triumphant” (ie the church in the kingdom of heaven). Thx for the reader who sent the correction in!

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