Crocus Cash May Flow by Fall: Lawyer

Winnipeg Free Press (February 26, 2008)

Author: Lett, Dan
Permanent Link: http://ca.vlex.com/vid/crocus-cash-may-flow-by-fall-lawyer-64900391
Id. vLex: VLEX-64900391

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Summary:

In fact, [David Klein] said that based on the settlements reached to date, and the money being held by the receiver, Crocus shareholders won't take as big a financial hit as many had feared.

Only Wellington West Capital Inc., the fund's lead underwriter, remains from the original list of defendants. However, Klein confirmed the class-action is considering filing suit against two new defendants: Filmore Riley, the law firm that provided general counsel to the Crocus board of directors; and Stafford Swain, an independent business valuator who worked on contract for the fund.

Before the election, Gary Doer explicitly said there will not be one penny of taxpayer dollars going into a settlement and now that the election is over it's clear that he was attempting to dupe Manitobans... It's unbelievable to think the government could be entertaining this prospect when all along they've been saying there was no basis for a settlement, no reason to be concerned , they had nothing to hide. Clearly they have something to hide.

Extract:

Crocus Cash May Flow by Fall: Lawyer

Agreements in principle reached with 5 defendants

By Dan Lett and Geoff Kirbyson

THE Crocus Investment Fund's 34,000 shareholders could get some of their money back as early as this fall, the lawyer spearheading ...



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