I use the word surprise for two reasons:
First of all Bridgecreek is going (gone into) receivership according to a very good source "The Pass Herald" see their front page story this week at the address below.
Second the article in the Herald states that former Councilors Ward, Cole, Salus, and Macleod made the right decisions regarding the municipalities involvement with this group. WOW
http://www.passherald.ca/index1.htm
Does anybody know anything about this new CEO Jon Mintoft?
More to follow on this story
17 comments:
Good morning Dean,
You must be feeling a sense of victory over the recent article. Receivership will cause an investigation into the whole sordid mess left by the BBoys. The media which has portrayed the BBoys as the darlings of development will no doubt be backpedalling as fast as they can to distance themselves from deeper investigation. Take care.
No sense of victory at all.
I feel very deeply not for any large companies that had money invested here, but for the folks that took their retirement funds to chase the big returns.
That's who I feel for.
Where did all the 10's of millions go??
I wonder too!
Maybe the former Mayor or anybody else that was involved will decide its time to step up and provide the "honest" answers to what they knew.
After all the former Mayor made the following comments in the promotional video.
"We work together on some of the concepts and plans.
I think we have an excellent fit.
It’s spectacular, it will be unique in North America at least.
It’s also environmentally friendly.
I can’t see it not being a great success".
Obviously he had some insight that most of us on council at that time didn't.
There is absolutely no doubt the truth WILL be told eventually. There are lots of eyes on this situation. I wonder how it feels for those who sit wondering when the knock will come on the door. Sometimes the anticipation is worse than the actual event....but time keeps ticking on and life gets shorter. That must suck :)
Dean
What about their municipal taxes were they up to date with the town?
Jack
Dean, my comment was directed at the abrupt turnaround by the media after going after you for opposing the BBoys last 'offer'. Those investors that got sucked in especially to the bricks & mortar scams have my utmost sympathy. Hopefully the BBoys will be brought front and centre along with every scumbag that supported their scams and/or profitted through their participation. I have no sympathy for any media either that get caught in the headlights of this travesty. take care.
Chloe
Thank you for that clarification.
What makes you believe this receivership news is true?
Check out the story on the front page of the Herald. The address is in the post just click on it, you go directly to the article.
This article has some 4dummies info on receivership:
http://www.cbc.ca/money/story/2009/01/14/f-bankruptcyprotection.html
Creditors will go for receivership only if they think there are enough assets to make it worthwhile. Also, the receiver (eg. Price Waterhouse) gets paid out of the proceeds of liquidation, so they would also need to believe in enough assets. (It seems unlikely to me that all the creditors would chip in to pay the receiver in advance).
"BridgeCreek" is a maze of numbered companies, I wonder which of them is in receivership and which owns what assets.
Revenue Canada, the securities commission, and the police force will probably be very interested in this maze of numbered companies once the Capital Loss claims and Business Investment Loss claims start piling in from the victims.
Dean
I stopped by the sales centre yesterday there is nothing on the door indicating that the building was taken over by anybody else.
Are you sure about this receivership?
Pat
Couple of comments: The information I have on the receivership comes from the article in the Herald. I would have a tough time beliving that they would print a story like this on their front page without having it confirmed with credible sources.
The question on back taxes, under privacy rules in Alberta, any time I requested information about back taxes we were not given names of any individual or company that was behind on its taxes. We were only given overall amounts for example if you look on the municipal web site.
In the financial section, under the 2008 statement it shows outstanding taxes at year end of $268,400, going to 2009's statement it shows a figure of $357,519 an increase of $89,119.
JOHN MINTOFT IS JUST ANOTHER PIECE OF A VERY COMPLEX PUZZLE.
Hi, check this out. http://www.bridgecreek.nl/ Most of you will need to translate but it talks of personal bankruptcy of Becker, Bradley and also of Gabor Zinner and Bradley resigning from Bridgecreek and the land now being owned by the court.
personal bankrupsy of B & B my @#$. Money is well hidden. Any free flights to the Cyman Islands for the poor?
Post a Comment