Doing the Business of the Church
Sage has issued a new newsletter dated Feb 12, 2021. You can read the original here - following is my summary. Share Redemption - 587 shareholders asked to redeem ~$13M worth of shares which is way in excess of the $5.6M of available cash. The newsletter outlines the distribution of the share redemptions they were... Continue Reading →
Earlier today I got the following comment / question: "In regards to the last meeting which was held November 28 / 2020 are. We going to get some information sent out? I could not get it on my Computer,would like to know what happened and was discussed. Thanks . Or it can be Emailed." I... Continue Reading →
With COVID 19 making a mess of things, the long delay since we'd last heard from Deloitte Restructuring, Sage, and KPMG, along with some accidental comments on past articles pertaining to "where are things" and "I've waited long enough for my money", I thought it'd be a good time for a refresh on where everything... Continue Reading →
It's said that the wheels of justice turn slowly because of how fine they grind. This is a good thing because a just system needs to correctly discern the good from evil so it can protect the good while holding the evil to account. Almost eight months ago in Sept 2019 the ASC settled with... Continue Reading →
In my prior post "CEF/DIL: Monitor's 38th Report" I surmised that this report pertained to an upcoming court case. I now believe that analysis is inaccurate because if you look at the report, it's dated Nov 26, 2019. My guess is that this report was originally generated and submitted to the Court last fall /... Continue Reading →
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... Continue Reading →
Sage Properties maintains and operates all the properties left over by the ABC District CEF debacle and represents the lions share of the value due to the CEF depositors. Their mandate is to maximize shareholder value with an eye to the orderly sale of the assets so the resulting funds can be distributed to the... Continue Reading →
Now that the CCAA process is almost done, the folks at Higgerty Law have been moving the CEF Representative Action case forward, and they recently published the following update to their CEF page. December 9, 2019 A third case management meeting occurred on December 5, 2019 at our initiation wherein most notably the Scheduling Order... Continue Reading →
Higgerty Law is counsel for the Representative Action, and today they updated their Representative Action web page with the following notice: The second case management meeting happened on October 22, 2019, and we are currently working on finalizing the Scheduling Order. US Legal describes a scheduling order as: Scheduling orders are part of case management, which... Continue Reading →
I've just received a copy of a letter the post-restructured ABC District BOD sent to the membership about the LCC - ASC Settlement. The original copy of the letter is here and my backup copy is here. The copy I have is a graphical image so I typed the letter contents in this blog post by hand -... Continue Reading →
