PWC reports on League can be found here:
http://www.pwc.com/ca/en/car/leagueassets/index.jhtml
The latest 6th report can be found
here:http://www.pwc.com/en_CA/CA/car/leagueassets/assets/leagueassets-154_112113.pdf
Court orders are here:
http://www.pwc.com/ca/en/car/leagueassets/court-orders.jhtml
Adam Gant is to be removed as CEO but may be retained as a consultant.
Certain assets are to be foreclosed immediately and most others are ordered listed for sale before Christmas 2013, satisfying the requests of secured creditors, excepting Colwood because the value is below the secured loans.
[btw: Didn’t KPMG value this asset over $100M in its latest audit a year ago ? And now it is worth nothing ? Some audit, eh ? Who audits the auditors anyway ?]
An offer for $7/unit was received for the Partner REIT units as League’s most liquid asset.
Additional DIP financing to fund operations approved.
The speed and fairness of this decision is impressive. Perhaps the BC Security Commission could learn from this judge !
Unclear is how much, if any, investor equity is left. This will become apparent by mid-summer 2014 when most or all assets will have sold.
leaguereviewed 
See this latest report by PWC here http://www.pwc.com/ca/en/services/insolvency-assignments/leagueassets.html
What is Gant doing these days ? Where does he live ?
For those who don’t want to read 120 pages, the TC sums things up nicely here:
http://www.timescolonist.com/business/league-investors-looking-at-90-loss-1.1158714
Is that the person who is listed as the Manager of Member Services at League? On his Linkedin profile he praises his handler thus:
“Adam is an inspirational leader who consistently strives for the next level. He’s driven and determined and that spirit inspires his “team” to push the envelope. You can’t help but feel proud to be a League team member with Adam at the helm!”
It is not the receiver’s job to find criminal activity. That is the RCMP’s job. PWC’s job was to sell assets off to satisfy secured creditors and collect hefty fees for themselves, of course. Investors got nothing – as expected – and as pointed out in this blog almost 3 years ago for those that actually cared to read it.
Have you checked Gant’s house lately ? Nice shack on the ocean in Victoria.
He owns nothing, of course, and will declare bankruptcy while his wife and kids (and he) live off their trust income into perpetuity.
Unless he is convicted criminally that is, as only then can they roll back his ill gotten gains, but that may take a few years in Canada. Arruda is likely in his native Brazil watching soccer in his private suite.
Latest report is here http://www.pwc.com/ca/en/car/leagueassets/monitors-reports.jhtml stating all money for investors is gone. Gant and Arruda continue to live in style off their millions in management fees while RCMP and BCSC do nothing as allegations of misrepresentation, inflated property values or outright fraud are tough to prove.