Doing the Business of the Church
Sage Properties maintains and operates all the properties left over by the ABC District CEF debacle and represents the lions share of the value due to the CEF depositors. Their mandate is to maximize shareholder value with an eye to the orderly sale of the assets so the resulting funds can be distributed to the... Continue Reading →
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... Continue Reading →
This is part 3 of a 3 part a series of articles about Chairman Kubke's letter regarding the ASC Settlement. Part 1. Part 2. Chairman Kubke concludes his letter so: It is our mandate as the current Board of Directors of Lutheran Church Canada Alberta British Columbia District to make sure that everything that we... Continue Reading →
This is part 2 of a 3 part a series of articles about Chairman Kubke's letter regarding the ASC Settlement. Part 1, Part 3. I signed the settlement documents as your representative firmly convinced that a settlement is a more reasonable way for us to move forward in the process than a hearing. I'd be... Continue Reading →
Hello everyone and apologies for the delay. Between life's commitments and wanting to make a constructive response to Chairman Kubke's letter, it took a bit longer to compose the following response. Hopefully the wait is worth it. This article is part 1 of 3. Part 2. Part 3. To begin, I'd like to go back... Continue Reading →
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 -... Continue Reading →
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 →
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... Continue Reading →
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”)... Continue Reading →
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... Continue Reading →
ANO / Lutheran Watch 