When the ASC begins hearing into the allegations of CEF's securities misconduct starting May 13, 2019 - a panel will hear both sides of the case, consider the information they have, and then render a verdict. If their verdict is that the accused have committed an offence that requires sanctions, a sanctioning hearing will follow... Continue Reading →
Jan 21, 2019 has come and (nearly) gone - and no official word from the ASC pertaining to the matter about the application to stay this proceeding until the representative action has concluded. However, the ASC's "Proceedings, Decisions, and Orders" page for this proceeding is still there, the May 2019 hearing dates are still in... Continue Reading →
Counsel for the prosecution and the defense have made their case. As I expected, counsel for the defense want to delay the proceedings until the representative action has concluded, or have the proceedings sealed so they cannot be used against them when the representative action commences. Considering that the AB real-estate market is somewhere between... Continue Reading →
The ASC application hearing that was originally scheduled for Dec 18, 2018 will now take place this coming Mon-Tue Jan 7-8, 2019. What is this hearing about, and why is it two days long instead of the original single day? Scuttlebut has it that the defence counsel really, really want to delay these proceedings until... Continue Reading →
Or, should I say "tweets of the day"? Good stuff. https://twitter.com/wad3mullen/status/1075866218572251136 https://twitter.com/wad3mullen/status/1075866219465576452 https://twitter.com/wad3mullen/status/1075866220493238273 ...which is why I use a pseudonym - you can't privately oppress what you cannot find. https://twitter.com/wad3mullen/status/1075866221885698050 ...and if I ever find myself in a meeting to "discuss" purported "issues of concern" I'm recording it in the off-chance it turns out to... Continue Reading →
What has been is what will be, and what has been done is what will be done, and there is nothing new under the sun. Is there a thing of which it is said, “See, this is new”? It has been already in the ages before us. Ecclesiastes 1:9-10 If there's one lesson I repeatedly learn... Continue Reading →
Remember that Dec 18, 2018 ASC hearing? It's been moved. A closed hearing management session was held on Dec 7, 2018 with the result that the application hearing was extended to two days and the Dec 18 hearing being rescheduled to Jan 7-8, 2019.
The dollar costs of the CEF / DIL collapse are pretty well known - the DIL investors got ~80% of their deposits back in "relatively" short order while the CEF depositors with less than $5K got all their money back and - on average - the larger depositors got ~18% of their funds back with... Continue Reading →