Doing the Business of the Church
It doesn't happen too often that I find myself longer on time than I am on work. And, rather than succum to the temptation to cause more mischief than usual, I decided to complete a project I've been thinking about doing for a long time - namely downloading all the PDF documents from the Deloitte... Continue Reading →
Yesterday I wrote a post claiming that with the sale of the seniors facilities, Sage's job was done. Then a faithful reader gently reminded me that ... "The school is the last asset to be sold. Sage signed a conditional agreement to purchase with Third Academy just before the shareholder's meeting. If this sale happens,... Continue Reading →
This just landed in my "inbox". At long last, years after the Jan 2015 "sufficient funds" announcement which led to the disclosure that ABC District clergy and other officials had been misrepresenting the security of CEF funds, that the CEF funds had breached the trust of the depositors by using it for a speculative business... Continue Reading →
From from Sage's mailing list. I haven't seen it on their website yet so I'm quoting it in its entirety here. ANO Sage Properties Corp. agrees to Sell Prince of Peace Senior Living FacilitiesCalgary, AB – July 17, 2023 – Sage Properties Corp. (“Sage”) today announced it has signed a definitive agreement to sell the Prince... Continue Reading →
Some mixed news from Sage's mailing list. I haven't seen it on their website yet so I'm quoting it in its entirety here. ANO September 2, 2022 Dear Shareholder, Please see the below update from the management and the board of Sage Properties Corp. (“Sage”): A. Waterline Update The Conrich Waterline to the Prince of... Continue Reading →
When the whole ABC District debacle debuted in Jan 2105, depositors that'd trusted the Lutheran Church with their funds were treated rather shabbily - good information wasn't forthcoming, District officials misrepresented what had actually happened, District struck a Task Force to investigate what happened and when the task force issued its first report, disbanded the... Continue Reading →
Every CCAA liquidation has a process - an application is made to the courts, the courts appoint a liquidator to be the courts eyes and ears, the liquidator works under the courts to sell assets, restructure the company, and possibly create a new company from the remains of the old company. When the liquidator's job... Continue Reading →
In the original article I wrote that Shepherd Valley Ministry (SVM) was worth $12M at best. A sharp-eyed reader noted that the actual funds advanced to SVM was more along the lines of $17M and that $12M was what the CEF Board forgave SVM. Checking my prior archives (which I should've done in the first... Continue Reading →
One of the minor players in the CEF / DIL / Prince of Peace fiasco was a small development project known as Shepherds Village Ministries (SVM). Like the Prince of Peace village, this project was mostly about a seniors care / life lease type of development for older people to live. (You can read my... Continue Reading →
The DIL representative action is being managed by Sugden, McFee, and Roos who are handling who has updated the webpage for the action. The December 8, 2021 update's been removed, and a February 25, 2022 update has been added. Following is a copy-and-paste of the Feb 25 update. Update: February 25, 2022 As per the Approval... Continue Reading →
ANO / Lutheran Watch 