District/CEF Plan of Arrangement

This is just a cross-post to alert you to the fact that the District/CEF Plan of arrangement is available on the Chief Restructuring Officer’s (Kluane Partner’s) website.

The same document is available on the Monitor’s website (Deloitte).

It’s a long complicated document which requires a lot of translation, but updates explaining details are coming.

4 thoughts on “District/CEF Plan of Arrangement

  1. ANO

    Paragraph 4.3 – notwithstanding the District and Synod bylaws….District bylaws will be amended such that District shall not be able to raise or administer funds through any type of investment vehicle.

    • S

      Is there any teeth to this? Is there anything that prevents them from changing their bylaws in a few years time?

      • ANO

        My expectation is that since this is a change imposed by the state, the convention will be barred from amending it at a later point in time.

        The only way to “change” it would be to dissolve ABC as a corporate entity and make a new one, or for a completely stand-alone business disconnected from District to be created.

        This is similar to the kind of sentence people get when they commit securities fraud – they’re barred from selling investments for a period of time, or for life.

  2. S

    There is much discussion about the District Plan that is happening on the unauthorized forum at http://cefinvestors.freeforums.net

    It would be good to have others join in the discussion.

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