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...

Shepherds Village Ministries – Winding Up Order May 16, 2022

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...

Shepherds Village Ministries Final Update – Apr 26, 2022 (Addendum)

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...

Shepherds Village Ministries Final Update – Apr 26, 2022

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...

DIL Representative Action Update – Feb 25, 2022

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...

General Update – Feb 9, 2022

On Jan 5, 2015 DP Schiemann misled the public by declaring a “sufficient cash flow shortage” as opposed to "we took your money, put it in some speculative real estate / business ventures, told everyone their money was safe, and then we ran out of depositor funds." Today my webpage monitoring software "bing"ed to let...

DIL Representative Action Update – 2022-01-05

The following update was just posted to the Sugden McFee & Roos LLP webpage. Update: December 8, 2021 NOTICE OF PARTIAL SETTLEMENT APPROVAL A Partial Settlement has been approved by the Court Sugden McFee & Roos LLP, Class Counsel for the DIL Representative Action Class Members, is pleased to advise that Mr. Justice Rooke ACJ...

CEF/DIL Updates – Oct 27, 2021 Corrections

Ok, I must've been asleep at the wheel to make the mistakes I made on the original post, so here's a mea-culpa post. Correction #1: As it turns out, there are two "Ruf"s involved in the CEF/DIL mess and I got them confused. Harry Ruf was ABC District President when the life lease village was...

CEF/DIL Updates – Oct 27, 2021

Hi Gang - Yes, I've been gone for a bit. Repeatedly pointing out LCC's ongoing and unrepentant bad behavior has gotten rather tedious so I've been working on other things. However - when news like this comes up, I had to fire up the old editor to get the word out. First - Sage Properties...

Sage Resources and Deloitte CCAA Distribution

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...