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 →

CEF/DIL: Norton Rose Fulbright Lawyer Weighs in on ASC Stay of Proceedings Application

In an earlier article I wrote about an application made by a number of outside parties ot the ASC proceeding asking to delay the case until a representative action against the applicants had completed.  As a not-a-lawyer blogger my article was written from that perspective. Now Steven Leitl - a lawyer that specializes in securities, insolvency,... Continue Reading →

LCC Board of Directors Wants to Hear From You / Part 2 – Conclusion

Part 1 of this series discussed the Synod BOD's "request for comments". Part 2 is one member's response to that request. To: Mr. Arnold Drung Chairman of the Board of Directors of Lutheran Church Canada From: Rev. Robert Clifford Pastor of the Hanover, Kincardine, Southampton, Ontario tri-parish It was good to see you the other weekend... Continue Reading →

ASC Hearing Ruling: Balance of Convenience

In the ASC hearing one point of discussion was what was termed a "Balance of Convenience".  The Encyclopedia of Canadian Law defines this term so: Balance of Convenience meaning or description: a common law test; a court applying this test will balance the prejudice to one party of denying the relief asked for, against the prejudice to the... Continue Reading →

ASC Hearing Ruling: Feb 28, 2019

When the CEF / DIL funds collapsed there was considerable speculation about what happened, why it happened, and if any laws were broken - what the left-hand authority of God's agents on earth would do about it. On Aug 31, 2018 the ASC held a hearing where staff laid out it's case against various named... Continue Reading →

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