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.... Continue Reading →

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”)... Continue Reading →

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... Continue Reading →

LCC CEF ASC Hearing “adjourned sine die”

This afternoon the LCC CEF entry on the ASC "status of current proceedings" page was updated with the status "adjourned sine die".  According to Wikipedia that means Adjournment sine die (from the Latin "without day") means "without assigning a day for a further meeting or hearing". To adjourn an assembly sine die is to adjourn it for an indefinite period. A legislative body adjourns... Continue Reading →

The Encharis et al vs ASC Petition

  While the ASC hearing is approaching, the court date for Encharis and others v ASC in the Alberta Court of Queens Bench is also approaching. In the Encharis case the representative action respondents are petitioning the court to put the ASC hearing on hold until the representative action is concluded which could delay the ASC... Continue Reading →

ASC Hearing Schedule Change

The clock's a-ticking and the start of the ASC hearing is now less than a month away and all the pre-hearing management meetings have been held. The hearing schedule has also been updated - it now starts on Sept 13 instead of Sept 16, and the Sept 17-20 hearing dates have been dropped. The ASC's "status... Continue Reading →

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