CEF/DIL: Refuting the Unofficial Party Line

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...

CEF/DIL: The Wheels of Justice Grind Slowly

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...

“If The Lord Wills”

Back on December 9, 2019 LCC Board Chair Arnold Drung posted an article to the Candian Lutheran site titled "If the Lord Wills: A Report on Synodical Planning." The choice for this passage is based on the following paragraph: We remember the words of James 4:13-15: “Come now, you who say, ‘Today or tomorrow we...

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...

CEF Representative Action: Higgerty Law Update – Dec 9, 2019

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...

ABC District BOD Letter to Members Regarding the ASC Settlement

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 -...

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...

Higgerty Law Weighs in On LCC – ASC Settlement

Higgerty Law represents that CEF depositors in their representative action against the various respondents to the ABC District CEF implosion. Today they posted the following statement to their Lutheran Church Representative Actions web page in response to the LCC ABC District - ASC Settlement. September 17, 2019 The hearing by Alberta Securities Commission (the “ASC”)...

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...

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...