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... 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 →

The Encharis et al vs ASC Petition

  While the ASC hearing is approaching, the court date for Encharis and others v ASC in the Alberta Court of Queens Bench is also approaching. In the Encharis case the representative action respondents are petitioning the court to put the ASC hearing on hold until the representative action is concluded which could delay the ASC... Continue Reading →

CEF Representative Action Update: Aug 6, 2019

From the Higgerty Law Lutheran Church Representative Actions page: August 6, 2019 We have filed and served the materials for the hearing to apply for certification of the Lutheran-CEF Alberta Class Action. A case management meeting with the Case Management Justice has been scheduled for October 22, 2019 to address coordinating and scheduling the steps leading... Continue Reading →

ASC orders Calgary man to repay $3.2M

Misled investors? Check. Unlawfully sold investments? Check. Squandered investors money? Check. Wasted the life savings of elderly retirees? Check. No, I'm not talking about the ABC District CEF/DIL yet - but their day is coming. This is the case of Vernon Ray Fauth who was convicted of multiple securities violation by the ASC. The ASC... Continue Reading →

CEF/DIL: LCC et al v ASC – Decision

LCC, EnCharis, and related applicants that are named in the pending representative action lawsuits have been trying to get the ASC to delay hearing their case against the five named respondents regarding alleged breaches of Alberta securities laws because they believe ASC's hearing could harm their ability to defend against the representative actions. First they... 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 →

CEF/DIL: ASC vs LCC et al

Last August 2018 the ASC held a meeting to determine the date for the hearing to consider the case against the various respondents. In Jan 2019 counsel for the respondents and some non-party people defending against a representative action tried to delay the case and were turned down. A little while later counsel for the respondents appealed... Continue Reading →

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