A great sadness abounds today.
Click here or copy and paste link to sign guest book: http://troutmanfuneralhome.com/?p=3135
Most of us know him through his efforts to help with all things media related regarding the lawsuit. Anyone who has had the opportunity to speak with him easily garnered that he was a gentle and caring soul who just wanted justice and fairness. It seems so immensely unfair that he will not be around to see the fruits of his labor.
We owe him huge gratitude as he single-handedly was responsible for garnering media attention for our cause. He was responsible for the recent nationwide media coverage of our appeal in June 2016. John was our voice outside of the courtroom.
Our sincerest condolences to the family.
Do you have your Birch trading records?
Now might be a good time to start gathering them together.
It's been 8 years and you may have stashed the records in a box somewhere in dark corner of the garage and forgotten about them. Or, maybe you dumped them in the trash when Birch went into receivership. Or, maybe, you changed your broker.
Can't find your records?
You'll need to start making some phone calls. Whether it's a broker or transfer agency, hopefully, your records are archived somewhere.
The transcripts will NOT be forthcoming as expected. We have to submit to a series of protocols and permissions. It will happen. We just don't know WHEN it will happen.
We can't imagine that the decision from the Appeal Court will take as long as it took Justice Strekaf to rule. We're surmising that - based on the notion that the Appeal Court is aware the previous ruling took an exorbitant amount of time and was rife with errors. This is just guesswork on our part. And . . . maybe, hopeful.
By all accounts, opinions of the shareholders in attendance on June 15th are optimistic for us and confident that this particular panel of Judges had the expertise and background to fully understand our claim. They felt that the comments and questioning from the judges demonstrated their grasp of the critical facts.
We were scheduled for an afternoon hearing with a limit of 45 minutes to make our argument. Our team arrived early in the morning as was necessary to be ready in case the morning hearing ran short. Upon arrival it was discovered that the morning hearing had purposely been rescheduled to allow us more time. Our team was informed that we had the full attention of the Court and could take as much time as needed. We had also petitioned the Court to allow new evidence. It was not only allowed, it was extensively reviewed.
I think we could safely interpret the admission of new evidence and our extended time as a positive for us. Let's hope the decision follows our optimism.
We promise to post here immediately when we receive a decision.
Until then we will be taking a few breaks and also preparing for what may be next.
In the meantime, please join other shareholders on our FaceBook page to participate in conversation while we wait.
HANG IN THERE!!
There is still a reason to believe!
We were in court from approximately 10 am until 3 pm. It was enough time to address many of the finer particulars of the case.
We cannot speculate on the outcome and must now wait for a decision. It could be several months.
However, check back with us here on the blog and we will have the transcripts for you to read and judge for yourself.
Lanny McDonald, Brookfield going another round in Alberta quarry case
If Brookfield Asset Management has so much money, why don't they buy out shareholders at a fair price?
In a Bloomberg interview with Bruce Flatt, he says,
"For example, we took Canary Wharf private. It was $8 Billion dollars to take it private. . . . Not many people have that amount of money to take it private." (timestamp 1:29 http://www.bloomberg.com/news/articles/2016-01-13/brookfield-eyes-blackstone-status-with-private-equity-push?cmpid=yhoo.headline&ref=yfp)
An article in the
called it a
"The Brookfield-Qatar venture launched its hostile takeover in November." (http://www.wsj.com/articles/brookfield-qatar-fund-take-control-of-londons-canary-wharf-1425407733)
Why do they have to keep changing the name of their distressed equity fund?
Is it to make it difficult to follow the paperwork?
When Brookfield's subsidiary went by the name of Tricap they represented on their web site and in SEC filings: (https://www.sec.gov/Archives/edgar/data/1001085/000119907305000640/ex99_1.htm)
"Tricap Restructuring Fund is a
US$350 million specialty fund
established by Brookfield Asset Management
and four institutional investors to
provide a source of patient,
and strategic assistance to companies
with attractive tangible assets and
proven operating history
but experiencing financial or operational difficulty."
But in the Bloomberg article accompanying the video, Bruce Flatt clearly contradicts that.
"We’re owner-operators. We buy businesses we hold for long periods of time. We earn greater multiples of capital. We’re just a little different."
Is 10 months, 10 days supposed to be "long term patient capital?"
Or is that how long it takes to "take a company private" and become the "owner-operator?"
Because that's how long Tricap was with Birch before becoming owner-operator of the $1.6 Billion dollar asset Birch shareholders owned.
A shareholder on Facebook reminds us that the journey of the last 8 years has been possible through a team effort with many people to thank for their contributions and support. So, thank you all.
Here is the FB post:
"Thanks to all the people who who have made contributions to this case with their Money,Time and especially their Effort, know that you have given HOPE to all Shareholders that have endured this tragedy and let's remember those that have perished because of it.
As we honor and eulogize those that are pictured below, their quotes epitomize the Team that has led this effort."
Lanny McDonald is also one of those great sports figures who exemplifies a courageous team spirit. Perhaps that is why he is Chairman of the Board of the Hockey Hall of Fame. He will be in court on June 15th representing us, the shareholders against Brookfield Asset Management.
"We can own great businesses forever, and that’s really what our goal is," Madon said.
What they used to say:
" Tricap Partners Ltd. was established by Brookfield Asset Management to provide 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 in reaching their full potential."
Tricap was the old name for Cyrus Madon's team at Brookfield. One has to wonder why they keep changing the name. Is it to obfuscate their trail of bad deeds?
Was Brookfield financing ever meant to "assist these companies in reaching their full potential" or as Madon states was the goal to own those valuable assets?
Perhaps, Bruce Livesey is on to something: