General Update – Feb 9, 2022

On Jan 5, 2015 DP Schiemann misled the public by declaring a “sufficient cash flow shortage” as opposed to “we took your money, put it in some speculative real estate / business ventures, told everyone their money was safe, and then we ran out of depositor funds.”

Today my webpage monitoring software “bing”ed to let me know there was an update on the Deloitte website. This has to be the shortest update yet, because all that added was the following notice under the street address of the Courts Centre:

“The Monitor obtained its discharge on January 4, 2022.”

This date corresponds with the dates that Deloitte subimitted notices of plan completion for DIL, District, ECHS, and EMSS.

So – if the Monitor – which is the court’s eyes and ears in a CCAA proceeding – was discharged of its duties, then I surmise that the CCAA phase of this sad tale is done.

In other news Sage’s Jan 31, 2022 newsletter related that the closing of the sale of Prince of Peace senior living facilities has been delayed due to certain conditions not being met including the transfer of sewer and water utility services to Rocky View County. This delay is due to circumstances beyond the control of either party and the Sage Board is working to determine how this will impact the sale’s timing.

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