Next month:
March 2011

February 2011

Lawsuit Update

Before certification of the lawsuit can be completed and before a trial can commence, it must be decided where and who will hear the case, the city and the court. (See links in sidebar links under CANADA CLASS PROCEEDING ACT 1992).

According to Wikipedia:

“Class action certification is considered easier to obtain in Canada than in the United States because predominance of common issues is merely a factor in determining whether to certify a class action, but not a requirement.” http://en.wikipedia.org/wiki/Class_action

Motions are essentially requests to a judge concerning the proceedings of the lawsuit.  A motion is an issue brought before the court to be decided or ruled on. It can be done formally in a court room or essentially by paper filings.

The first motion to be considered in our lawsuit is the venue - where the court case should take place. This is in progress.

The general guidelines for the court process can be found in our sidebar labeled “Court Process” or you can just click here to read the Ontario Ministry of the Attorney General to read more to get an idea.

Reasons the case should be in Ontario:
If you remember our previous post about the 13 G’s and 13 D’s you must have noted that all the defendants reported that their primary business location is Ontario. (See previous post on 24 Dec 2010 on jimymac.com)

From the SEC 13D filing on 1 August 2008

Page  2            

1   NAMES OF REPORTING PERSONS:     TRICAP PARTNERS LTD.

6  CITIZENSHIP OR PLACE OF ORGANIZATION:  ONTARIO

Page    2

1   NAMES OF REPORTING PERSONS:    BRASCAN ASSET MANAGEMENT HOLDINGS LIMITED

6  CITIZENSHIP OR PLACE OF ORGANIZATION:  ONTARIO

Page    3

1   NAMES OF REPORTING PERSONS:  BROOKFIELD ASSET MANAGEMENT INC.

6  CITIZENSHIP OR PLACE OF ORGANIZATION:  ONTARIO

It should be in Ontario, not just because their true and plain disclosures say they are in Ontario but because. . . well. . . all the oligopolists involved are there!

Brookfield Asset Management, Tricap a.k.a. Brookfield Special Situations I, 

Brookfield Special Situations II, TD, RBC, PWC, TSX, OSC!   

What Does Oligopoly Mean?

"A situation in which a particular market is controlled by a small group of firms.

An oligopoly is much like a monopoly, in which only one company exerts control over most of a market. In an oligopoly, there are at least two firms controlling the market.

The retail gas market is a good example of an oligopoly because a small number of firms control a large majority of the market."

Source: Investopedia: 

http://www.investopedia.com/terms/o/oligopoly.asp

And what would be their particular market if they are oligopolists - predatory lending?
http://www.canadianbusiness.com/managing/strategy/article.jsp?content=20100816_10023_10023

Brookfield Place (in Toronto, in Ontario) has two towers connected by the open arched atrium you see in the second photo. Their lobby is on the third floor the tower you see on the left. TD is in the tower on the right of the the third picture. RBC is across the street. The Courthouses, Osgoode Hall, and the OSC are only a few blocks away, near City Hall.

.


PWC Report:

The majority of the assets were sold to a private numbered company (Hammerstone Corporation - owned by Tricap, a.k.a. Brookfield Special Situations)  with the sale closing date of April 2, 2009. The lease assets were returned or new arrangements were made with the purchaser (Tricap).

"The premises were vacated in March 2009 and the remaining assets were sold to other interested parties. “ALL THE ASSETS HAVE BEEN SOLD.”

Besides - Birch Mountain no longer exists - no assets,

no management, no address.

It’s an empty shell.

 


WELCOME

Welcome to our new blog site dedicated to Birch Mountain shareholders and information about the Canadian Class Action Lawsuit and the US Efforts to seek justice. Please take a little time to acquaint yourself with our new features; a Google Map showing many of our shareholders, a Donate button so that you can contribute, an About page so you can learn a bit more about us, and two ways to receive our blog updates automatically.

Links to the official Class Action Lawsuit can be found in the sidebar to the right. There are also links to background information to help you understand the Oppression Remedy and Canadian Law.  

Pardon us while we continue to spruce up and refine the site. We've moved all the original posts about Birch Mountain from the previous location to this new site. We're still working on the About page and additional resource links.

If you wish to contact us please do so at birchmountain@hushmail.com.

Thank You,
Your Champion Stakeholders Team

 

 


Birch Mountain - Shareholders

Originally posted on jimymac.com on 28 Jan 2011.

-------------------------------------------------------

BMD Nation!

WE ARE MANY AND WE ARE STRONG!

Please visit the new addition

in our sidebar - our BMD Nation Google map.


Birch Mountain - Happy Holidays

Originally posted on jimymac.com on 24 Dec 2010.

----------------------------------------------------

Dear Fellow Shareholder,

We hope your are enjoying your holidays. We wish you health, happiness and a prosperous New Year.
________________________________________________________________

This is REALLY LONG. No apologies. We think you will appreciate its value.  We have highlighted the most significant text. But first . . .

What is the purpose of the US Securities and Exchange form 13G and 13D?

"Reporting of Large Positions by Any Person Acquiring Beneficial Ownership

In the 1960’s, the cash tender offer became an increasingly common mechanism to acquire control of a publicly traded corporation.  This mechanism provided the person seeking control with the ability to take over a corporation without having to disclose information that “might substantially change the assumptions on which the market price is based.” In response to this, Section 13(d) of the Williams Act was adopted in 1968 (related legislation under 13(g) was adopted in 1977).  The purpose of Section 13(d) and 13(g) is to give prompt notice to the issuer of the security, and alert the market generally, to an accumulation of stock positions that may signal a possible change in control of the issuer.  These provisions are intended to promote informed decisions by shareholders concerning the desirability of maintaining an equity interest in a company or accepting a tender offer.

These laws and rules are intended to address issues of controlmarket manipulation, andsystemic risk." (Source Cadwalader)

 13G Excerpts =============================

Filing Date: 2008-08-01
Accepted: 2008-08-01 17:05:07

UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549

SCHEDULE 13G
UNDER THE SECURITIES EXCHANGE ACT OF 1934;
(AMENDMENT NO. __)*

BIRCH MOUNTAIN RESOURCES LTD.
---------------------------------------------------------------
(Name of Issuer)

AUGUST 29, 2007
OCTOBER 11, 2007
----------------------------------------------------------------
(Date of Event Which Requires Filing of this Statement)

Check the appropriate box to designate the rule pursuant to
which this Schedule is filed:
                               [_] Rule 13d-1(b)
                               [x] Rule 13d-1(c)
                               [_] Rule 13d-1(d)
*The remainder of this cover page should be filled out for a reporting person's initial filing on this form with respect to the subject class of securities, and for any subsequent amendment containing information which would alter disclosures provided in a prior cover page.

The information required is the remainder of this cover page shall not be deemed to be "filed" for the purposes of Section 18 of the Securities Exchange Act of 1934 ("Act") or otherwise subject to the liabilities of that section of the Act but shall be subject to all other provisions of the Act (however, see the Notes).       

Page 2
NAMES OF REPORTING PERSONS:  James A. Pattison
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP:                                            

(a) [_]
(b) [_]

3 SEC USE ONLY
4 CITIZENSHIP OR PLACE OF ORGANIZATION:       Canada

NUMBER OF SHARES BENEFICIALLY OWNED BY EACH REPORTING PERSON WITH:

5  SOLE VOTING POWER:   

4,849,394 at August 29, 2007 (See Item 4)  9,197,424 at October 11, 2007 (See Item 4)

6    SHARED VOTING POWER: -0-

7    SOLE DISPOSITIVE POWER:

4,849,394 at August 29, 2007 (See Item 4)  9,197,424 at October 11, 2007 (See Item 4)

8    SHARED DISPOSITIVE POWER: -0-

9    AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON:

4,849,394 at August 29, 2007 (See Item 4)    9,197,424 at October 11, 2007 (See Item 4)

10   CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES:                          [_]
11  PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9)                               

5.5% at August 29, 2007 (See Item 4);

10.1% at October 11, 2007 (See Item 4)

 12  TYPE OF REPORTING PERSON: IN

ITEM 1
(a)   NAME OF ISSUER:
        Birch Mountain Resources Ltd. (the "Issuer")
(b)   ADDRESS OF ISSUER'S PRINCIPAL EXECUTIVE OFFICES:
        Suite 300, 250 - 6th Avenue S.W.
        Calgary, Alberta, Canada  T2P 3H7

ITEM 2
(a)    NAME OF PERSON FILING:
        James A. Pattison (the "Reporting Person")
(b)   ADDRESS OF PRINCIPAL BUSINESS OFFICE OR, IF NONE, RESIDENCE:
        Principal Business Office:
        The Jim Pattison Group
        1800, 1067 West Cordova Street
        Vancouver, BC V6C 1C7  Canada
(c)   CITIZENSHIP:
        Canada
(d)   TITLE OF CLASS OF SECURITIES:
        Common Shares, without par value ("Common Shares")
(e)   CUSIP NUMBER: 09066X109

ITEM 3  

IF THIS STATEMENT IS FILED PURSUANT TO RULE 13D-1(B), OR RULE 13D-2(B) OR (C), CHECK WHETHER THE PERSON FILING IS A:
                          Not applicable

ITEM 4  OWNERSHIP.
(a)-(c)  The responses of the Reporting Person to Rows 5, 6,7, 8, 9 and 11 of the cover page are incorporated by reference herein.

Page 3
As of August 29, 2007, the Reporting Person, through wholly-owned corporations, owned Canadian dollars ("C$")16,003,000 principal amount of the Issuer's convertible unsecured subordinated debentures due December 31, 2011 (the"Subordinated Convertible Debentures"), and accordingly, at a conversion price of C$3.30 per share, may be deemed to have beneficially owned 4,849,394 Common Shares, which represented approximately 5.5% of the Common Shares outstanding determined in accordance with Rule 13d-3(d)(1)(i) under the Exchange Act (based on the number of Common Shares outstanding as of June 30, 2007, as reported in the Issuer's Unaudited Interim Consolidated Financial Statements for June 30, 2007, as filed with the SEC by the Issuer on August 14, 2007, as Exhibit No. 99.2 to its Form 6-K (83,007,237 Common Shares), plus the Common Shares issuable upon conversion of the Subordinated Convertible Debentures owned by the Reporting Person described above).

As of October 11, 2007, the Reporting Person, through wholly-owned corporations, (i) owned C$23,372,000 principal amount of the Subordinated Convertible Debentures, and accordingly, at a conversion price of C$3.30 per share, may be deemed to have beneficially owned 7,082,424 Common Shares and (ii) also owned 2,115,000 Common Shares directly. The aggregate 9,197,424 Common Shares beneficially owned by the Reporting Person represented approximately 10.1% of the Common Shares outstanding determined in accordance with Rule 13d-3(d)(1)(i) under the Exchange Act (based on the number of Common Shares outstanding as of September 30, 2007, as reported in the Issuer's Unaudited Interim Consolidated Financial Statements for September 30, 2007, as filed with the SEC by the Issuer on November 14, 2007, as Exhibit No. 99.2 to its Form 6-K (84,145,737 Common Shares), plus the Common Shares issuable upon conversion of the Subordinated Convertible Debentures owned by the Reporting Person described above).

ITEM 5  OWNERSHIP OF FIVE PERCENT OR LESS OF A CLASS.
If this statement is being filed to report the fact that as of the date hereof the reporting person has ceased to be the beneficial owner of more than five percent of the class of securities, check the following [__].

ITEM 6  OWNERSHIP OF MORE THAN FIVE PERCENT ON BEHALF OF ANOTHER PERSON.
         Not applicable.

ITEM 7  IDENTIFICATION AND CLASSIFICATION OF THE SUBSIDIARY WHICH  ACQUIRED THE SECURITY BEING REPORTED ON BY THE PARENT HOLDING COMPANY.
         Not applicable.

Page 4
ITEM 8   IDENTIFICATION AND CLASSIFICATION OF MEMBERS OF THE GROUP.
         Not applicable.

ITEM 9   NOTICE OF DISSOLUTION OF GROUP.
         Not applicable.

ITEM 10   CERTIFICATIONS.
(b) By signing below I certify that, to the best of my knowledge and belief, the securities referred to above were not acquired and are not held for the purpose of or with the effect of changing or influencing the control of the Issuer of the securities and were not acquired and are not held in connection with or as a participant in any transaction having that purpose or effect.

Page 5

SIGNATURE

After reasonable inquiry and to the best of my knowledge and belief, I certify that the information set forth in this statement is true, complete and correct.
Dated:  August 1, 2008

/s/ James A. Pattison

13G/A Excerpts ( An amended 13G) ========================================

 

Filing Date: 2008-08-01
Accepted: 
2008-08-01 17:06:40

UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549

SCHEDULE 13G/A
UNDER THE SECURITIES EXCHANGE ACT OF 1934

(AMENDMENT NO. 1)*

BIRCH MOUNTAIN RESOURCES LTD.
---------------------------------------------------------------
(Name of Issuer)

DECEMBER 31, 2007
---------------------------------------------------------------
(Date of Event Which Requires Filing of this Statement)

Check the appropriate box to designate the rule pursuant to
which this Schedule is filed:
                               [_] Rule 13d-1(b)
                               [x] Rule 13d-1(c)
                               [_] Rule 13d-1(d)
*The remainder of this cover page should be filled out for a reporting person's initial filing on this form with respect to the subject class of securities, and for any subsequent amendment containing information which would alter disclosures provided in a prior cover page.

The information required is the remainder of this cover page shall not be deemed to be "filed" for the purposes of Section 18 of the Securities Exchange Act of 1934 ("Act") or otherwise subject to the liabilities of that section of the Act but shall be subject to all other provisions of the Act (however, see the Notes).
                
CUSIP No.                       09066X109                               13G                            

Page 2
1 NAMES OF REPORTING PERSONS:   James A. Pattison
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP:                                            

(a) [_]
(b) [_]

3 SEC USE ONLY
4 CITIZENSHIP OR PLACE OF ORGANIZATION:       Canada

NUMBER OF SHARES BENEFICIALLY OWNED BY EACH REPORTING PERSON WITH:

5  SOLE VOTING POWER:   

1,522,727 at December 31, 2007 (See Item 4)*

6    SHARED VOTING POWER: -0-

 7    SOLE DISPOSITIVE POWER:          

1,522,727 at December 31, 2007 (See Item 4)*

8    SHARED DISPOSITIVE POWER: -0-

9    AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON:

1,522,727 at December 31, 2007 (See Item 4)*

10   CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES:                          [_]
11  PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9)                               

12.4% at December 31, 2007(See Item 4)*

 12  TYPE OF REPORTING PERSON: IN

ITEM 1
(a)   NAME OF ISSUER:
        Birch Mountain Resources Ltd. (the "Issuer")
(b)   ADDRESS OF ISSUER'S PRINCIPAL EXECUTIVE OFFICES:
        Suite 300, 250 - 6th Avenue S.W.
        Calgary, Alberta, Canada  T2P 3H7

ITEM 2
(a)    NAME OF PERSON FILING:
        James A. Pattison (the "Reporting Person")
(b)   ADDRESS OF PRINCIPAL BUSINESS OFFICE OR, IF NONE, RESIDENCE:
        Principal Business Office:
        The Jim Pattison Group
        1800, 1067 West Cordova Street
        Vancouver, BC V6C 1C7  Canada
(c)   CITIZENSHIP:
        Canada
(d)   TITLE OF CLASS OF SECURITIES:
        Common Shares, without par value ("Common Shares")
(e)   CUSIP NUMBER: 09066X109

ITEM 3  

IF THIS STATEMENT IS FILED PURSUANT TO RULE 13D-1(B), OR RULE 13D-2(B) OR (C), CHECK WHETHER THE PERSON FILING IS A:
                          Not applicable

ITEM 4  OWNERSHIP.
(a)-(c)  The responses of the Reporting Person to Rows 5, 6,7, 8, 9 and 11 of the cover page are incorporated by reference herein.

Page 3
As of December 31, 2007, the Reporting Person, through wholly-owned corporations, (i) owned Canadian dollars ("C$") 29,280,000 principal amount of the Issuer's convertible unsecured subordinated debentures due December 31, 2011 (the "Subordinated Convertible Debentures"), and accordingly, at a conversion price of C$3.30 per share, may be deemed to have beneficially owned 8,872,727 Common Shares and (ii) also owned 2,650,000 Common Shares directly. The aggregate 1,522,727 Common Shares beneficially owned by the Reporting Person represented approximately 12.4% of the Common shares  outstanding determined in accordance with Rule 13d-3(d)(1)(i) under the Exchange Act (based on the number of common Shares outstanding as of December 31, 2007, as reported in the Issuer's Annual Report for the fiscal year ended December 31, 2007, as filed with the SEC by the Issuer on April 3, 2008, on Form 20-F (84,180,737 Common Shares), plus the Common Shares issuable upon conversion of the Subordinated Convertible Debentures owned by the Reporting Person described above).

As of July 31, 2008, the Reporting Person, through wholly-owned corporations, owned C$29,280,000 principal amount  of the Subordinated Convertible Debentures, and accordingly, at a conversion price of C$3.30 per share, may be deemed to have beneficially owned 8,872,727 Common Shares, which represented approximately 9.5% of the Common Shares outstanding determined in accordance with Rule 13d-3(d)(1)(i) under the Exchange Act (based on the number of Common shares outstanding as of March 31, 2008, as reported in the Issuer's Unaudited Interim Consolidated Financial Statements for March 31, 2008, as filed with the SEC by the Issuer on May 20, 2008, as Exhibit No. 99.2 to its Form 6-K (84,355,737 Common Shares), plus the Common Shares issuable upon conversion of the Subordinated Convertible Debentures owned by the reporting Person described above).

ITEM 5  OWNERSHIP OF FIVE PERCENT OR LESS OF A CLASS.

If this statement is being filed to report the fact that as of the date hereof the reporting person has ceased to be the beneficial owner of more than five percent of the class of securities, check the following [__].

ITEM 6  OWNERSHIP OF MORE THAN FIVE PERCENT ON BEHALF OF ANOTHER PERSON.
         Not applicable.

ITEM 7  IDENTIFICATION AND CLASSIFICATION OF THE SUBSIDIARY WHICH  ACQUIRED THE SECURITY BEING REPORTED ON BY THE PARENT HOLDING COMPANY.
         Not applicable.

Page 4
ITEM 8   IDENTIFICATION AND CLASSIFICATION OF MEMBERS OF THE GROUP.
         Not applicable.

ITEM 9   NOTICE OF DISSOLUTION OF GROUP.
         Not applicable.

ITEM 10   CERTIFICATIONS.
(b) By signing below I certify that, to the best of my knowledge and belief, the securities referred to above were not acquired and are not held for the purpose of or with the effect of changing or influencing the control of the Issuer of the securities and were not acquired and are not held in connection with or as a participant in any transaction having that purpose or effect.

Page 5

SIGNATURE

After reasonable inquiry and to the best of my knowledge and belief, I certify that the information set forth in this statement is true, complete and correct.
Dated:  August 1, 2008

/s/ James A. Pattison

13D Excerpts  ===============================

Filing Date: 2008-08-01
Accepted: 2008-08-01 17:07:45

UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549

SCHEDULE 13D
UNDER THE SECURITIES EXCHANGE ACT OF 1934;
(AMENDMENT NO. __)*

BIRCH MOUNTAIN RESOURCES LTD.
-------------------------------------------------------------
(Name of Issuer)

JIM REID, VICE PRESIDENT
TRICAP PARTNERS LTD.  
SUITE 1700, 335-8TH AVENUE SW  
CALGARY, ALBERTA T2P 1C9   
(403) 770-7220
--------------------------------------------------------------
(Name, address and telephone number of person authorized to receive notices and communications)

JULY 23, 2008
--------------------------------------------------------------
(Date of event which requires filing of this statement)                

Page  2               

1   NAMES OF REPORTING PERSONS:     TRICAP PARTNERS LTD.

2   CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (a) [ ] (b) [X]

3   SEC USE ONLY

4   SOURCE OF FUNDS    -OO-

5  CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANTTO ITEM 2(d)OR 2(e)            [ ]

6  CITIZENSHIP OR PLACE OF ORGANIZATION:  ONTARIO

7   SOLE VOTING POWER  NUMBER OF SHARES BENEFICIALLY OWNED BY EACH REPORTING PERSON WITH:   102,960,197 Common Shares (1)  

8       SHARED VOTING POWER   -0-

9       SOLE DISPOSITIVE POWER   102,960,197 Common Shares (1)

10     SHARED DISPOSITIVE POWER  -0-

11     AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON:

102,960,197 Common Shares (1)

12     CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES [ ]

13     PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)    55.0% (1)

14     TYPE OF REPORTING PERSON:  CO
(1) See Item 5(a) herein. Common Shares that would be issuable upon conversion of a senior secured convertible debenture of Birch Mountain Resources Ltd. heldby Tricap Partners Ltd.                

Page    2

1   NAMES OF REPORTING PERSONS:    BRASCAN ASSET MANAGEMENT HOLDINGS LIMITED

2   CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (a) [ ] (b) [X]

3   SEC USE ONLY

4   SOURCE OF FUNDS    -OO-

5  CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANTTO ITEM 2(d) OR 2(e)            [ ]

6  CITIZENSHIP OR PLACE OF ORGANIZATION:  ONTARIO

7   SOLE VOTING POWER  NUMBER OF SHARES BENEFICIALLY OWNED BY EACH REPORTING PERSON WITH:   102,960,197 Common Shares (1)  

8       SHARED VOTING POWER   -0-

9       SOLE DISPOSITIVE POWER   102,960,197 Common Shares (1)

10     SHARED DISPOSITIVE POWER  -0-

11     AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON:

102,960,197 Common Shares (1)

12     CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES [ ]

13     PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)    55.0% (1)

14     TYPE OF REPORTING PERSON:  CO
(1) See Item 5(a) herein. Common Shares that would be issuable upon conversionof a senior secured convertible debenture of Birch Mountain Resources Ltd. heldby Tricap Partners Ltd.

Page    3

1   NAMES OF REPORTING PERSONS:  BROOKFIELD ASSET MANAGEMENT INC.

2   CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (a) [ ] (b) [X]

3   SEC USE ONLY

4   SOURCE OF FUNDS        -OO-

5  CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANTTO ITEM 2(d) OR 2(e)            [ ]

6  CITIZENSHIP OR PLACE OF ORGANIZATION:  ONTARIO

7   SOLE VOTING POWER  NUMBER OF SHARES BENEFICIALLY OWNED BY EACH REPORTING PERSON WITH:   102,960,197 Common Shares (1)  

8       SHARED VOTING POWER   -0-

9       SOLE DISPOSITIVE POWER   102,960,197 Common Shares (1)

10     SHARED DISPOSITIVE POWER  -0-

11     AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON:

102,960,197 Common Shares (1)

12     CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES [ ]

13     PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)    55.0% (1)

14     TYPE OF REPORTING PERSON:  CO
(1) See Item 5(a) herein. Common Shares that would be issuable upon conversionof a senior secured convertible debenture of Birch Mountain Resources Ltd. heldby Tricap Partners Ltd.

Page 4

ITEM 1.  SECURITY AND ISSUER.
The title and class of equity security to which this statement onSchedule 13D relates is the common shares, without par value ("Common Shares"), of Birch Mountain Resources Ltd. (the "Company"), an Alberta corporation. Theprincipal executive offices of the Company are located at Suite 300, 250 Sixth Avenue SW, Calgary, Alberta T2P 3H7.

ITEM 2.  IDENTITY AND BACKGROUND.
This Schedule 13D is being filed by each of the following persons (the"Reporting Persons"):
(i)      Tricap Partners Ltd. ("Tricap"), a corporation formed under the laws of the Province of Ontario;
(ii)     Brascan Asset Management Holdings Limited ("Brascan"), a corporation formed under the laws of the Province of Ontario; and
(iii)     Brookfield Asset Management Inc. ("Brookfield"), a corporation formed under the laws of theProvince of Ontario.

Tricap is a wholly-owned subsidiary of Brascan, which is a wholly-owned subsidiary of Brookfield.

SKIP TO PAGE 6

Other than as described or contemplated above, none of the Reporting Persons and, to the Reporting Persons' knowledge, the Scheduled Persons, has any current plans or proposals that relate to or would result in:
         (a) the acquisition by any person of additional securities of the Company, or the disposition of securities of the Company;
         (b) an extraordinary corporate transaction, such as a merger, reorganization or liquidation, involving the Company or any of its subsidiaries;

However, each of the Reporting Persons reserves the right to change its plans at any time, as it deems appropriate, in light of its ongoing evaluation of (a) its business and liquidity objectives, (b) the Company's financial condition, business, operations, competitive position, prospects and/or share price, (c)industry, economic and/or securities markets conditions, (d) alternative investment opportunities, and (e) other relevant factors.

Page 7

ITEM 5.  INTEREST IN SECURITIES OF THE ISSUER.

Except as disclosed in this Item 5(a), none of the Reporting Persons, nor, to their knowledge, any of the Scheduled Persons, beneficially owns any Common Shares other than James A. Pattison, a director of Brookfieldwho through wholly-owned corporations, owns C$29,280,000 principal amount of the Company's convertible unsecured subordinate debentures.  Accordingly, he may be deemed to be the sole beneficial owner of 8,872,727 Common Shares that would be issuable upon conversion of such convertible unsecured subordinate debentures, which shares would represent approximately 9.5% of the Common Shares outstanding determined in accordance with Rule 13d-3(d)(1)(i) under the Exchange Act.

--------------------------------------------------------------

To view in the original format go here:

13G: http://www.sec.gov/Archives/edgar/data/1006224/000090951808000637/mv8-1_13g.txt

13G/A: http://www.sec.gov/Archives/edgar/data/1006224/000090951808000638/mv8-1_13ga1.txt

13D: http://www.sec.gov/Archives/edgar/data/1001085/000090951808000639/mv8-1_13d.txt

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Brookfield's CODE OF BUSINESS CONDUCT AND ETHICS (http://www.brookfield.com/_Global/1/documents/relatedlinks/472.pdf)

"COMPLIANCE WITH LAWS, RULES AND REGULATIONS

Know and comply with all laws, rules and regulations applicable to your position. Many of the company’s activities are subject to complex and changing laws, rules and regulations. Ignorance of the law is not, in general, a defense to an action for contravention. We expect directors, officers and employees to make every reasonable effort to become familiar with laws, rules and regulations affecting their activities and to exert due diligence in complying with these laws, rules and regulations and, to ensure that those individuals reporting to them are also aware of these laws, rules and regulations. Our objective is to restrict willful or negligent violations of these laws, rules and regulations." Page 10

"FAIR DEALING

Deal fairly with the company’s customers, suppliers and competition. You must endeavour to deal fairly with security holders, the company’s customers, clients, investees, suppliers, competitors and employees, and observe your fiduciary duties with investment management clients and related activities. You should not take unfair advantage of anyone through manipulation,concealment, abuse of privileged information, misrepresentation of material facts, or any other unfair-dealing practice." Page 11. (Emphasis added to paragraphs)

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What were and are the ramifications of all this?


Birch Mountain - Shareholder Rights? Drive Change?

Originally posted on jimymac.com on 20 Dec 2010.

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Dear Fellow Shareholder,

Do you remember this? 

"The Board has determined that it would be in the best interest of the Corporation for the shareholders to approve the private placement of the Convertible Debenture, with regard to the ability of Tricap to convert the entire principal amount thereof and unanimously recommends that the shareholders vote in favour of the resolution set forth below.

In Addition, there are direct adverse consequences to the extent that shareholder approval is not obtained." (Source: Management Circular 6 May 2008 SEDAR)

Direct adverse consequences? If you were at the Birch AGM or if you read this statement in the Managers Circular in May of 2008 about the upcoming vote - did you share in the feeling that the Company was being strong armed? 

On June 3rd, 2008 the vote was announced.

Item 1 carried with a vote count FOR totaling 50,441,140 and 0 against.

Item 2 carried with a vote count FOR totaling 50,254,425 and 2,424,218 withheld.

Item 3 carried with a vote count FOR totaling only 21,785,233 and 1,387,676 against.

Does that mean less than half of the shareholders even voted on item 3 - approval of the debenture terms? Do the missing share votes have anything to do with the Broadridge beneficial shareholders votes?

20 days later after the vote was announced:

"On June 23, 2008, Tricap issued a notice of a default with respect to financial covenant non-compliance by the Company under the terms of theDecember 21, 2007 Loan Agreement, (the "Loan Agreement")." (Source: 27 Aug 2008 news release SEDAR)

On July 11, 2008 the default was announced. In less than one month from the approval of the debenture terms there was a default? Did anyone see this coming? Is that some kind of record? Was it a loan agreement or a debenture?

On July 23, 2008 Birch announces it is "imperative to pursue the immediate sale of the Company to unlock maximum value for its shareholders."  Unlock? (Source: 23 Jul 2008 news release SEDAR)

On August 1, 2008 it was announced:

"As a consequence, the Trustee may, on behalf of the holders of the Debentures (the "Holders"), declare the principal amount and the accruedamount of interest to be due and payable." (Source:1Aug 2008 news release SEDAR)

Due and payable? What happened to "long term patient capital?"

"About Tricap Partners Ltd.--------------------------Tricap Partners Ltd. was established by Brookfield Asset Management toprovide long term patient capital to companies with potential for value creation and need to recapitalize. With strong industry and financial management expertise, Tricap is well positioned to assist these companies inreaching their full potential." (Source: bottom of news release 24 Dec 2007 SEDAR)

How long is "long-term?" According to their web representation (the web page has since been removed - see sidebar for image) it could be some where between 3-5 years, slightly longer than 20 days.

 On August 27, 2008 it is announced:

"Pursuant to the terms of an Acknowledgement, Waiver and Amending Agreement between the Company and Tricap effective August 1, 2008 (the"Amending Agreement") the parties agreed to make certain amendments to theLoan Agreement, the Debenture and the Investor Rights Agreement between theCompany and Tricap dated December 21, 2007 subject to TSX approval." (Source: 27 Aug 2008 news release SEDAR)

 The Loan Agreement and the Debenture? To be Backdated? After TSX approval?

The news release continues to summarize the amendments and the reason shareholders were not given a chance to vote on the amendment conditions: Financial Hardship Exemption. 

"In accordance with the policies of the TSX, shareholder approval is required for the Amending Agreement on the basis of the following: (i)dilution will be in excess of 100% if the amended Debentures are converted,(ii) Tricap would own in excess of 50% of the issued and outstanding securities of the Company if the amended Debentures are converted, which would materially effect control of the Company and (iii) the anti-dilution provisions of the amended Debentures are not in accordance with section607(g)(i), 604(a)(i) and 607(e) of the TSX Company Manual.

As already disclosed, the Company is presently experiencing serious financial difficulty. As a consequence of such financial hardship and upon the recommendation of the Special Committee of the board of directors of theCompany, the Company applied to the TSX for an exemption from the requirement to obtain shareholder approval for the Amending Agreement on the basis of the financial hardship exemption pursuant to section 604(e) of the TSX CompanyManual (the "Financial Hardship Exemption"). The TSX has conditionally granted and the Company shall rely upon the Financial Hardship Exemption in connection with the Amending Agreement.

As a consequence of relying upon the Financial Hardship Exemption, the TSX has informed the Company that it will, in the ordinary course, commence a delisting review. It is expected upon completion of further transactions asdescribed above, the Company will then be in compliance with TSX listingrequirements.  

The Company also intends to rely on the Financial Hardship Exemption for any further transactions which may require shareholder approval. A furtherpress release will be issued once details of any further transactions havebeen determined." (Source: 27 Aug 2008 news release SEDAR)

The Company intends to rely on the TSX Financial Hardship Exemption for ANY FURTHER TRANSACTIONS?

The TSX Company Manual states:

 "The disclosure provided to security holders in seeking security holder approval must be pre-cleared with TSX. 604(e) Upon written application, and other than in respect of Sections 612 and 613, a listed issuer meeting continued listing requirements as set out in Part VII of this Manual will be exempted from security holder approval requirements if the application is accompanied by a resolution of the listed issuer's board of directors stating that:

 i) the listed issuer is in serious financial difficulty;

 ii) the application is made upon the recommendation of a committee of board member(s), free from any interest in the transaction and unrelated to the parties involved in the transaction;

 iii) the transaction is designed to improve the listed issuer's financial situation; andiv) based on the determination of the committee referred to in ii) above, that the transaction is reasonable for the listed issuer in the circumstances." (Source: TSX Company Manual 604e)

The transaction is designed to improve the listed issuer's financial situation? Does that imply that the Hardship Exemption is granted in perpetuity or is it supposed to be singular? How do we know if the financial situation improved? 

On September 12, 2008 the TSX approved the hardship exemption.

On September 16, 2008 Birch announces they are:

"pleased to report that the Muskeg Valley Quarry("MVQ") recently set a new daily record for limestone aggregates shipped."

These achievements were made with the current quarry workforce of16 people, which includes a skeleton crew on night shift for loading and scaling. The new daily record exceeds the previous record of 20,000 tonnes set in Q2 2007 with a quarry workforce of more than 50 people - a peak productivity gain per worker of more than 250%. 

"Although our Q1 and Q2 sales were less than expected, the latter part of Q3 has been very active and the level of new orders booked since Labour Day is unprecedented for the Birch Mountain operations." (Source: 16 Sep 2008 news release SEDAR)

Are we to understand that the value of the Company had been unlocked and that their financial situation improved with record truck rolls? Unprecedented? Are we to understand the hardship exemption fulfilled its purpose and is no longer needed?

Financial results for Q3 were never reported to shareholders. Why? Third quarter results are normally reported by mid-November.  Who was in possession of the financial information?  Who’s fiduciary responsibility was it to report the Q3 results?
 
On September 19, 2008 Tricap updates their Early Warning Report.

By the way, what happened to that 3rd party poison pill? You know - the Shareholders Rights Plan with Computershare? Does the TSX hardship exemption usurp that contract?
Here's what the TSX Company Manual says:
 Sec. 604. Security Holder Approval
 (a) In addition to any specific requirement for security holder approval, TSX will generally require security holder approval as a condition of acceptance of a notice under Section 602 if in the opinion of TSX, the transaction:
 i) materially affects control of the listed issuer; or
 ii) provides consideration to insiders in aggregate of 10% or greater of the market capitalization of the listed issuer and has not been negotiated at arm's length.
 If any insider of the listed issuer has a beneficial interest, direct or indirect, in the proposed transaction which differs from other security holders of the same class TSX will regard such a transaction as not having been negotiated at arm's length." (Source: TSX Company Manual section 604)

In addition to any specific requirement for security holder approval? Specific requirement - like a Shareholder's Rights Plan? Arm's Length? Beneficial interest?
  
"Tricap seeks to capitalize on Brookfield's operating experience 
 
and long term perspective to drive change and build value."
 
(see sidebar Tricap)

Is this the kind of change you were expecting as a shareholder?
 
 
Hammerstone
Please check back on 24 December 2010!

Birch Mountain - Further Clarification

Originally posted on jimymac.com on 8 Dec 2010.

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Dear Fellow Shareholder,

Let us be clear.

WHO: We're shareholders.

WHAT: We recognized an injustice. We're trying to mobilize shareholders.

WHEN: 2 years in the making and NOW!

WHY: We seek to recover asset losses as described in the Statement of Claim. (see link in sidebar)

WHERE: The Class Action was initiated in a Canadian court. However, it does not matter your country of citizenship as long as you were a Birch Mountain shareholder during the time period specified.

You don't need to take any action to be a part of the lawsuit.

You are automatically included if you owned Birch Mountain shares

between April 8, 2005 and November 5, 2008

ONE MORE THING: The shareholders who took it upon themselves to initiate this lawsuit on your behalf are reaching out to engage you in our ongoing efforts that will assist and add value to our cause. That is why we have requested you submit your name, address, citizenship, and number of shares owned to birchmountain@hushmail.com.

Special thanks to the shareholders who have

stepped up to advance our mission.

If you haven’t already read our previous 8 blog entries for Birch Mountain - you might find it helpful to do so. If you want to communicate with the lead shareholders responsible for this action, please do so through birchmountain@hushmail.com.


Birch Mountain - To ALL the Shareholders

Originally posted on jimymac.com on 19 Nov 2010.

Modification to original post 3 Feb 2011.

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Dear Fellow Birch Mountain Shareholder,

We are now at the stage in the Canadian Class Action Proceedings where we need to expand the number of Birch Mountain shareholders who can be kept fully informed of and potentially support our efforts to get justice for all of us.

To accomplish this we are asking all recipients of this notice to forward it to every Birch Mountain shareholder they know to inform them of an effort of a small group of average citizens who are seeking justice for all Birch Mountain shareholders. Please disseminate this information to any Birch Mountain shareholder you may know.

Only shareholders who held shares between April 1, 2005 and November 5, 2008 will be included in the class action lawsuit in Canada. All shareholders having shares during that time period, regardless us citizenship, holding shares during that period, are automatically included. Please see previous post "Are you part of the Birch Mountain Class Action Lawsuit?"

We will then assemble a list of all of the respondents so we may inform everyone of the progress and challenges that we are facing. 

The short version of events that caused us to pursue a legal remedy for Birch Mountain shareholders is as follows:

  • Tiny public company (Birch Mountain) discovers a large limestone deposit in the middle of one of the largest industrial projects in Canada (Ft. McMurray) and in an area with no significant gravel reserves.
  • The limestone deposit has a third party valuation of 1.6 billion NPV dollars.
  • A significant Canadian investment company agrees to help finance build out of the operation.
  • Stock price reaches over 8 dollars per share and then begins a precipitous and suspicious steady decline to less than one penny.
  • Company eventually is pushed into receivership by Tricap.
  • Shareholders lose everything.
  • Four Birch Mountain shareholders suspect something unethical happened and spend two years piecing together the events that resulted in the Birch Mountain receivership.
  • Researchers assert the Defendants acted in a manner that was oppressive to the Birch Mountain Shareholders.
  • The case is fact based and the researchers are eager to share their story with a judge in the pursuit of justice.
  • The lawsuit commenced on behalf of all (not just Canadian and within that time periodBirch Mountain Shareholders is based on the Oppression Remedy which seeks to ensure fairness and implement a just and equitable remedy.  This remedy gives the court broad equitable jurisdiction to enforce not just what is legal, but also what is fair.

We ask all Birch Mountain shareholders, who wish to be kept fully informed of and support our efforts to e-mail us at birchmountain@hushmail.com by November 28th. Please provide us with your name, address, and country of citizenship.

If you have already contacted us via Hushmail, no further action is necessary. We will have an update soon.

Sincerely,
Birch Mountain Shareholders for Justice

Please see previous 7 related posts for additional information.


Birch Mountain - Mr. Jim Pattison

Originally posted on jimymac.com on 6 Nov 2010.

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Don't know him? Well, suffice to say he is the "Warren Buffet" of Canada. What are his investments? You might want to take a look here:

The Jim Pattison Group

His businesses: Automotive, Entertainment, Export and Financial, Food, Illuminated Signs, Media, Packaging, Periodical Distribution. What? You don't see limestone on the list of his acquisitions? Probably not.

The better question might be, "what doesn't he own?" Forbes billionaire ranking placed him at #230 in 2007 worth $3.8 billion, #178 in 2008 worth $5.5 billion, with a drop to #212 and only $4 billion in 2010.

What's his connection to Birch Mountain? That's a good question. Please see item 83 of the Statement of Claim (sidebar).

In the meantime, did anyone happen to listen to Brookfield's Q3 live conference call today?

Here’s the link for the Brookfield Conference Call:

http://services.choruscall.com/links/bam101105.html

Fast forward to about the 58:00 minute mark to hear someone ask about the class action lawsuit and Hammerstone. Also interesting is Brookfield's explanation about their distressed fund.

All human actions have one or more of these seven causes: chance, nature, compulsions, habit, reason, passion, desire. Aristotle

Have we provided you any reasons to take action?

Please contact us at birchmountain@hushmail.com.


Birch Mountain - How does the stock price get to $0.01 ?

Originally posted on jimymac.com on 23 Oct 2010.

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See previous 5 posts - Birch Mountain

If you read our previous posts we touched on item 7 of the Statement of Claim (sidebar), "The various methods used to accomplish this transfer of ownership have been employed numerous times by Brookfield and/or Tricap with devastating results for the Birch Mountain common shareholders. . .

One of the methods cited was the convertible debenture. According to the SEC (http://www.sec.gov/answers/convertibles.htm):

. . ."a market price based conversion formula can lead to dramatic stock price reductions andcorresponding negative effects on both the company and its shareholders, convertible security financings with market price based conversion ratios have colloquially been called "floorless", "toxic," "death spiral," and "ratchet" convertibles. (emphasis added)

Here's how these deals tend to work and the risks they pose:

*    The company issues convertible securities that allow the holders to convert their securities to common stock at a discount to the market price at the time of conversion. That means that the lower the stock price, the more shares the company must issue on conversion.
*    The more shares the company issues on conversion, the greater the dilution to the company's shareholders will be. The company will have more shares outstanding after the conversion, revenues per share will be lower, and individual investors will own proportionally less of the company. While dilution can occur with either fixed or market price based conversion formulas, the risk of potential adverse effects increases with a market price based conversion formula.
*    The greater the dilution, the greater the potential that the stock price per share will fall. The more the stock price falls, the greater the number of shares the company may have to issue in future conversions and the harder it might be for the company to obtain other financing.

You should be aware of the risks arising from the effects of the purchasers and other parties trading strategies, such as short selling activities, on the market price for the company's securities, which may affect the amount of shares issued on future conversions." (emphasis added)

The SEC refers to "short selling activities" as a factor when considering the nature of the "death spiral toxic" financing that is the convertible debenture. To paraphrase and simplify what the SEC has said:

Short selling, and something called naked short selling, contributes to the dramatic reduction of the stock price. A lower stock price means the holder of a convertible debenture containing a "ratchet option" can convert to more shares given the lower price, creating more dilution. Dilution further affects the stock price meaning more shares are convertible. It's an endless spiral of stock price reduction until the death of the company. It becomes obvious that it is in the best interests of the debenture holder to have the stock price decline.

If you are not up to speed on short selling and naked short selling see our posts under topic "Naked Short Selling" and particularly our post "Floyd Norris - New York Times Article - Our Rebuttal"or search "naked short selling" and you will be overwhelmed with information.

In the meantime, you can decide for yourself what the effect of the short selling and "fails to deliver" (which result from naked short selling) had on the Birch Mountain stock price. You may recall an older term - bear raid - that was used in the past to describe the relentless shorting of a stock to force it's price down.

Canadian Shorts 
FTD 
The SEC warns: BEWARE the "effects of the purchasers and other parties trading strategies. . ."

Item 8 of the Statement of Claim states: "The death spiral stock trading of Birch Mountain common shares during the period from May 25, 2006 to November 5, 2008 caused the share price of Birch Mountain common shares on the TSX to collapse from $7.99 on May 25, 2006 to $0.01 on November 5, 2008."

And, if you are curious if the "Senior Secured Convertible Debenture Private Placement Senior Secured Credit Facility Term Loan" from Tricap had a ratchet option - the answer is, yes. Ratchet options are stated like this:

"The initial principal amount of the Debenture is convertible, at the election of the holder, in whole or in part, into common shares of the Corporation ("Common Shares"), at an exercise price equal to the lower of (i) $0.80 per common share and, (ii) the then current market price. . ."(emphasis added) http://www.marketwire.com/press-release/Tricap-Announces-Investment-in-Birch-Mountain-Resources-Ltd-806064.htm

Which simply means that Tricap, at the time they chose to convert, could convert at whichever price was lower - $0.80 cents or the current market price. It is referred to directly as the "ratchet provision"in the amended Senior Secured Convertible Debenture Private Placement Senior Secured Credit Facility Term Loan filed on 28 Aug 2008:

"should the Company issue equity securities below $0.40 per share, or securities convertible into equity securities with a strike or exercise price below $0.40 per equity security, the Initial Price will be reduced to such lower amount per equity security (the "Ratchet Provision");"

In an SEC filing dated December 16, 2008, Tricap reports their beneficial ownership of 97.6% of the common shares of 3,458,872,727 (yes, that's trillion!) Now you can see the effect of dilution with a debenture ratchet option and why a lower stock price benefits the debenture holder. Birch Mountain only had 80+ million shares issued outstanding before the debenture.


Birch Mountain - "The various methods used to accomplish this transfer of ownership. . ."

Originally posted on jimymac.com on 15 Oct 2010.

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See previous 3 Birch Mountain entries for more information.

If you read our previous post about the Komatsu Case Study (sidebar) we addressed one of the first items in the overview of the Statement of Claim (sidebar): 

"5. OVERVIEW STATEMENT (see Statement of Claim, pg 7)

6.This claim involves the fact situation where the assets of a public company, BirchMountain, worth an estimated $1.6 billion dollars were transferred to a private company,1439442, for a cash outlay of less than $50.0 million dollars."

The assets referred to in the Komatsu Case Study are the same assets with an estimated value of $1.6 billion that were once owned by Birch Mountain Resources Ltd. and shareholders. The value of the asset seems to be intact and the Kearl Lake contract referred to seems to be the similar to the one Birch Mountain management was cultivating. And, we think it's safe to say that prospects for the future of the mine are good considering Terry Owen's optimism, "the sky's the limit."

That brings us to the next item in the Statement of Claim:

"7. The various methods used to accomplish this transfer of ownership have been employed numerous times by Brookfield and/or Tricap with devastating results for the Birch Mountain common shareholders and include the use of convertible debentures, deathspiral stock trading and avoidance of shareholder approvals." (see Statement of Claim, pg 7)

The "various methods" that come into question in the Statement of Claim seem to have a very specific pattern of behavior:

". . .Tricap’s model of making money from troubled companies. . ." (emphasis added)

"This is how Tricap’s funds work: First, Tricap gets a pool of money together, using some of Brookfield’s own cash and money from institutional investors who agree to leave it in for seven to eight years. Then Tricap staff, who monitor companies in trouble, discuss some potential candidates with Madon and Robertson — typically, ones in the forestry, real estate, energy or manufacturing sectors. If they feel the company has turnaround potential, Tricap either acquires senior debt from the bank or offers a loan directly to the company. Tricap profits by charging extremely high interest. But what if the shaky companies that Tricap lends to are unable to pay back their debts? Not a problem. Tricap is happy to sponsor a recapitalization plan to convert the debt to ownership stakes (equity) — literally purchasing companies at bargain-basement prices.  'We are prepared to go either way,” says Madon.' "(emphasis added)
Read more: http://www.financialpost.com/news/story.html?id=977465#ixzz12Ma5L3PC from Karen Mazurkewich, Financial Post Magazine · Monday, Dec. 1, 2008

What's curious is that the article also states:

"After lending Birch Mountain $31.5 million last December, Madon and his team had run out of patience."
 

Read more: http://www.financialpost.com/news/story.html?id=977465#ixzz12Ma5L3PC from Karen Mazurkewich, Financial Post Magazine · Monday, Dec. 1, 2008

It's known that of the $31.5 million that was lent by Tricap, $15 million went directly to pay back Brookfield Bridge Lending, essentially, themselves. So with less than $16 million in senior debt, Birch was left to continue their struggle. Tricap's patience lasted about 11 months, quite short of the 7 to 8 years mentioned above.

"Depending on one’s perspective, it makes for either chilling reading — firms like Tricap are opportunistic vultures, preying on the weak. Or it is a story that’s uplifting and instructive — here is a business that saves doomed companies and profits most when those it gets involved with rebound and grow, add jobs and boost the economy. In either case, there’s no dispute that hard times will serve up many more opportunities right in Tricap’s wheelhouse — leading to reports that it will soon be launching a third, $1-billion Tricap fund."

Read more: http://www.financialpost.com/magazine/archive/story.html?id=977309#ixzz12MfirbkP from Brian Banks, Financial Post Magazine · Monday, Dec. 1, 2008

And to be fair, since an argument can be made for both perspectives, consider this statement found describing a completely separate set of events with no relationship to Birch Mountain:

"It's obvious now -- they were setting up an investment vehicle for the export of raw logs, though a numbered company registered in the Province of Manitoba. They used the power of the Legislature to change laws and to create acts like the Private Managed Forest Act."

Fraser observed that parent company, Brookfield Assets Management, has now moved offshore to Bermuda, "to avoid Canadian taxes and Canadian civil law." (emphasis added)

 Read more: http://www.canada.com/albernivalleytimes/news/story.html?id=538b16c7-f523-4b6a-9a56-7cd6cfad526a from BY ALBERNI VALLEY TIMES MAY 9, 2008. SMorrow@avtimes.net

Why would a Canadian giant like Brookfield want to avoid taxes and civil law?

Please contact us at birchmountain@hushmail.com.