CEF: The Number You Have Called Is Not In Service

Back in September 28, 2019 I posted an article "CEF: Update from Deloitte" which posited that the Tuscany property had been sold, a distribution was waiting for court approval, with the expectation the distribution would be out the door sometime in Nov 2019. Fast forward to Jan 2020. The Deloitte insolvency website hasn't been updated with...

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...

Sage Properties Update – Dec 18, 2019

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...

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...

My Response to the ABC District BOD Letter Regarding the ASC Settlement / Part 3 of 3

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...

My Response to the ABC District BOD Letter Regarding the ASC Settlement / Part 2 of 3

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...

My Response to the ABC District BOD Letter Regarding the ASC Settlement / Part 1 of 3

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...

LCC’s Six-Month Financial Situation

LCC recently posted a six-month report of their financial situation along with a bulletin insert which details Synod's work together with the six-month financial report. The following table has Synod's financial numbers for the first six months along with some questions that came to me as I was writing this up. Be warned, it's not...

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 -...

CEF: Update from Deloitte

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....