CEF/DIL: Monitor’s 38th Report

Just when I turned in for the night, my alerting system told me Deloitte’d published their 38th report to their website.  This report was created to support a forthcoming application to the Court, as I’d discussed in “CEF: Deloitte Calling!

This report pertains to the Representative Actions and not a future distribution. Hopefully that’ll appear in another report and be addressed during the same court appearance.

Following is my summary of the Monitor’s 38th report.

Introduction and Notice to Reader – covers the history of the proceedings to date.

Paragraph 3: Talks about the stay of proceedings being partially lifted on Oct 25, 2017 so the CEF and DIL representative actions could move forward. I’ve seen updates from Higgerty Law for the CEF RA, I wonder what’s going on with SMR Law who is handling the DIL RA?

Court Application

Paragraph 13: This report is being prepared to support an application to the Court pertaining to a Court of Queen’s Bench pertaining to information related to the representtive actions, specifically the names and addresses of the various creditors, and the valuation of Sage Properties Corp shares.

Sensitive Information

This section discusses the information being supplied, and argues why the Court should seal it. Because most of the creditors are vulnerable seniors, the primary concern is their privacy and protection. With respect to the valuation information, disclosing it could prejudice the sale of Sage shares by any shareholders and potentially impair the eventual sale price of Sage Properties holdings.

 

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