Hi Gang - Yes, I've been gone for a bit. Repeatedly pointing out LCC's ongoing and unrepentant bad behavior has gotten rather tedious so I've been working on other things. However - when news like this comes up, I had to fire up the old editor to get the word out. First - Sage Properties... Continue Reading →
The LCC / ASC Settlement and the Cost of Litigation
In the article My Response to the ABC District BOD Letter Regarding the ASC Settlement / Part 2 of 3 I posited some cost/benefit reasons why ABC District et al decided to settle vs going to trial. Recently I came across a video blog by David Freiheit - a Quebec based lawyer that does video blogs... Continue Reading →
CEF: Update from Deloitte
Recently "Repicheep" on the CEF Investor's Forum asked Deloitte where things were given that the parsonage lot and the Tuscany properties since both been sold and the funds were still waiting to be distributed. Joseph Sithole at Deloitte responded as follows: The Alberta securities commission settlement is the reason why the final distribution has been delayed.... Continue Reading →
My Thoughts about the LCC – ASC Settlement
To start - here's the timeline of the ASC's actions along with the documentation that was released along the way. I've made backup copies of all the original documents and provided links to them 'just in case'. ASC: Alberta Securities COQB: AB Court of Queens Bench ABC BOD: ABC District Board of Directors 2018-06-27 ASC... Continue Reading →
CEF/DIL – ASC Settlement News Release
The ASC has issued a news release on the ASC - LCC settlement. A copy of this release follows. ANO LUTHERAN CHURCH SETTLES WITH ASC FOR MISLEADING INVESTORS Sep 12, 2019 CALGARY – September 12, 2019 – The Alberta Securities Commission (ASC) has concluded a Settlement Agreement and Undertaking with the Lutheran Church-Canada, the Alberta-British Columbia... Continue Reading →
CEF/DIL – ASC Settles with Lutheran Church Respondents
This just in - the ASC has settled its case with the Lutheran Church respondents. Since the case has been settled, the ASC has issued a notice of withdrawal wherein the ASC is withdrawing their allegations against the respondents. Excerpts of the settlement follow. I'll write more about this later. ANO Introduction 1. Staff of the Alberta... Continue Reading →
CEF/DIL: “How Many Sleeps Now Daddy?”
When I was younger it seemed like "tomorrow" was eternity to wait when I wanted something. Consequently when my Dad talked about waiting a few weeks or months it was more than my young mind could comprehend and might as well have been an eternity. Time moves on and with it life seems to move faster.... Continue Reading →
What the ASC Can and Cannot Do
In the article "CEF/DIL: ASC vs LCC et al" I made a reference to the ASC "throwing the book" at the respondents if they interpreted the respondents appeal to the Court of Queen's Bench of Alberta as an attempted end-run of the hearing date the ASC had set back in Aug 2018 . "Carl Vehse" asked - "What can... Continue Reading →
LCC Synod Board Issues “Mea Culpa” After Leduc Meeting
After the Leduc meeting the LCC Synod BOD sent the following email to the Western Region LCC members. I've also included an article about the meeting published in the Canadian Lutheran. April 11, 2019 Via E-mail To All West Region Congregations and Pastors, The Board of Directors of Lutheran Church-Canada extended an invitation to the... Continue Reading →
CEF/DIL: ASC Hearing Date Moved to Sept 2019
In the article ASC Hearing Ruling: Feb 28, 2019 I detailed the history of the ASC's case against the named defendants through the Feb 28, 2019 hearing where the ASC declined a some requests to delay the hearing or seal the proceedings until the representative action against the named respondents had concluded. A bit after the Feb 28... Continue Reading →