Class Action Lawsuit Against Platinum Equities

Links in the News:

Sept 15 2012: Platinum Equities faces ASC hearing -Calgary Herald

Sept 14 2012: Alberta Securities Commission alleges illegal distributions, prohibited representations and unfair practices in sales of securities by Platinum Equities Inc. - ASC site

Sept 14 2012: Calgary firm raised $58-million while misrepresenting facts to investors: regulatorThe Globe and Mail

Sept 14 2012: Alberta regulator accuses real-estate syndicator of illegal distributionsCanadian Business

Sept 14 2012: ASC alleges illegal distributions, prohibited representations and unfair practices in sales of securities by Platinum Equities Inc. – Sacramento Bee

Sept 12 2012Alberta Securities Commission – Notice of Hearing on Platinum EquitiesAlberta Securities Commission

Sept 10 2012:Class-action lawsuit launched against Calgary company - CBC

Sept 10 2012:INVESTORS MEET OVER CLAIMS OF BEING MISLEAD IN $160M DEAL – Sun News

Sept 9 2012:Suit alleges building-management firm took at least $160 million from nearly 2,200 people - The Province

Key Dates:

Sept 12 2012: Alberta Securities Commission alleges illegal distributions, prohibited representations and unfair practices in sales of securities by Platinum Equities Inc.

Sept 6 2012: Class action suit filed against Platinum Equities, involving key figure from Concrete Equities. The players involved include Dave Humeniuk, who has been sanctioned by the Alberta Securities Commission, and carries a life time ban for offences related to the Real Estate Commission of Alberta. Mr. Humeniuk was sanctioned by Alberta Securities Commission (ASC) in January 2012, for not disclosing this ban in Offering Memorandums prepared while he was involved with Concrete Equities,Shariff H. Chandran, who has been convicted for misrepresenting himself as a realtor, and Riaz Mamdani. (SHARIFF H. CHANDRAN, also known as S.H. Chandran, Sri Chandran and Srinivansan Chandran)

Class Action Lawsuit Against Platinum Equities

June 25, 2012, McGuigan Nelson LLP filed an Action in the Court of Queen’s Bench of Alberta to advance a claim on behalf of all investors and/or limited partners and/or shareholders in the projects listed in the link below. If you were an investor in one or more of those projects, the Statement of Claim contemplates your investment loss and will be advanced on your behalf. They have separate sub-classes in the lawsuit for each investment, which is generally listed in the link below. The Statement of Claim names many more parties, to incorporate the various corporations at issue with each investment. This is being advanced upon a class action basis, which further contemplates sub-classes for each limited partnership.

McGuigan Nelson LLP Web Site Links:

09/14 ASC lays charges against Platinum Equities more

09/11 Summary of News Coverage - Platinum more
09/11 Hundreds of Investors Attend Town Hall Meeting more
09/10 Important Information about Platinum Equities Class Action Lawsuit more
09/10 CBC The National reports on Platinum Equities Class Action Lawsuit more
09/06 Platinum Class Action Statement of Claim being Amended more
09/06 Press Release relating to Platinum Equities Class Action Lawsuit more
09/05 Message to Dominion (Qualia V) and Lucaya Investors more
08/31 Platinum Class Action: Lucaya Sale more

Thursday, December 16, 2010

Dominion Place

146 comments:

  1. What was the outcome of the court appearance this week? Is there a contact person? L and L

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  2. Legal counsel for Dominion Place investors were sucessful in securing court orders for the full Register of Partners to be provided by PE and an audit of the LP books and records.

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  3. We, along with our clients, are going to hold an information meeting of interested limited partners on
    Saturday January 29 at 3 pm at Burnet Duckworth and Palmer LLP, 1400, 350_7th Avenue S.W.
    Please come to the entrance on 3 rd Street (between 6th and 7'h avenue) - someone will be there to
    meet you. There are several parking lots close by that generally charge a flat rate of $2 to $5 on the
    weekends.
    At the meeting we will provide more detailed information about the steps taken

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  4. Great so now we are going fund a massive litigation! Let me guess who came up with this brilliant plan.......could it be the lawyer?
    Things are bad but we are only going to make this worse with getting into litigation with Chandran. Do you really think he will walk away, we are going to destroy our equity and spend more money paying our lawyers.
    There is a better solution then this.

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  5. $500 per unit, so even if I dont put up any money I get to benefit if you win, if we lose I saved myself $500. Does this make any sense other then to make our lawyer rich? We are looking for a soap opera when all I want is my investments.

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  6. This is the answer to those who are not in favour of the lawyer. You expect Chandron to start paying us quarterly without the lawyer on his back. Why did he put another mortgage $600.000 on our building? There are many fishing things. He did not act in our best interest. He has to pay for his wrong doing.

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  7. We will end up paying hundreds of thousands to these lawyers and at the end we will settle for peanuts. I agree there are issues but we are blowing this way out of proportion. Let's get the audit completed and work on holding on to these assets, there is no doubt in my mind these properties will fetch top dollar in another 5 to 7 years. There is a group here that seems to have another agenda and I'm never the one to make business decisions because a lawyer with his own agenda is advising us. The conflict is that our lawyer is telling us to raise money to pay his bill. So far we havent lost anything, i drove by the buildings and yes there is vacancies but they are still standing. Cooler heads prevail.

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  8. We also attended this investor meeting and would disagree that there was or is "another" agenda existing by anyone else present.
    Many investors like ourselves hold multiple investments with similar issues and serious concerns that need to be addressed and solutions need to be found.
    Everyone wants transparency and answers in an effort by all to secure our investments we have made with this company.
    Holding on to our assets and ensuring security for our investment dollars was presented as the priority, at least that's what we heard more than once.
    We have also been told we have a GP unwilling apparently to provide information and documents requested via court order. There are millions of dollars unaccounted for between "related parties" and also relating to mortgage proceeds for mortgages we were not informed of nor ever approved. This second mortgage has also already expired leaving our asset at risk of foreclosure by the mortgage company.
    There are certainly enough red flags for Limited Partners here to seek legal action necessary to uncover what has really been happening with our LP and assets and then make some decisions especially in light of the fact that we were informed our first mortgage is expiring in March.
    To date it appears the GP has been unwilling to provide answers, documents or even allow investors to simply exercise their rights under the LPA.
    We personally find your comments that concerned investors are "blowing things way out of proportion" given all the red flags we are learning about or that "so far we haven't lost anything" quite offensive and quite naive actually.
    Contrary to what you say here the lawyer was speaking on behalf of the investors who initiated this legal action due to their original concerns. They attended/organized this information meeting for investors and also personally spoke to everyone about their investment concerns and their request for additional funds from co-investors to help cover legal and audit costs as did others present.
    We were told the GP did not even supply a full Partnership Registry that was ordered by the court so many investors were not even contacted to be able to attend this important investor meeting.
    Does that tell you anything?
    Do you know for a fact "that so far we have not lost anything"?
    Only a full audit can determine the facts but there are millions of dollars in question already with no answers or documents from the GP supplied to date.
    However the Partnership is responsible for all debt obligations registered against Dominion Place-that is a fact.
    To date we learned there is an amount in 2nd and 3rd mortgages of $3.1 million alone (plus any possible accrued interest) and we don't even know what this money was borrowed for do we?
    "Cooler heads" are prevailing.
    For many of us the actions of the GP are not acceptable and driving by a building to see that it is "still standing" is not enough to offer us any semblance of security at any point in time especially now.

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  9. The definition of insanity: Doing the same thing over and over and expecting a different result!

    Think about it!

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  10. We learned at this investor meeting that the GP is continuing not to adhere to court orders to supply documents, answers to questions and even a complete Register or Partners.
    Unfortunately this left a large percentage of Dominion investors unaware of our meeting who should have been provided with an opportunity to attend and access important information.
    Does that alone not say something to you?
    We learned of a 3rd mortgage that the GP allowed to be registered against our asset when he should not have done so.
    We learned that a 2nd mortgage for $2.5 million was also registered and that the GP will still not provide information about where this money has gone or what the funds have been used for.
    We learned that there is over $2 million showing as due from "related parties" on the 2009 unaudited financial statements that the GP is not explaining or even identifying who the "related parties" are.
    This certainly raises enough red flags in our minds to show legal action is necessary to get to the bottom of this and secure our investments especially in light of the fact that we also learned the 2nd mortgage of $2.5 million is past due/expired and the first mortgage for over $14 million comes due in March.
    The GP has repeatedly refused to provide information, answer questions and allow Limited Partners to exercise their rights.
    How are investors "blowing this way out of proportion"?
    I am sorry but there are many of us who believe that investment security comes from far more than driving by the buildings and seeing that "they are still standing" especially in light of what we learned at this investor meeting.
    Do you know for a fact that "so far we haven't lost anything.
    You heard the same as we did that the GP allowed an improper mortgage with Strategic Financial for $600,000 to be registered against our asset.
    Has this been de-registered yet?
    A significant amount of money appears to still be unaccounted for by the GP based on what we were told at this meeting but this apparently is not a concern for you unlike many of us.
    There is no agenda other than to get to the truth and secure our investment.
    It was not a matter of any lawyer asking us for money since clearly the investors who started this action and others who have offered financial support to date stated their serious concerns and made the request for additional support from co-investors.
    "Cooler heads" are prevailing.

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  11. I agree with the investor saying there is no agenda other than to get to the truth and secure our investment. Chandron is accountable. We have to get to the bottom of this. He put second and third mortgage on our building without investors'knowledge. We are worry about our investment. So we don't let him go free.

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  12. WELL SAID 'cooler head'ENTIRELY MY ASSESSMENT AS WELL.

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  13. To anonymous who wrote:
    "Great so now we are going fund a massive litigation! Let me guess who came up with this brilliant plan.......could it be the lawyer?
    Things are bad but we are only going to make this worse with getting into litigation with Chandran. Do you really think he will walk away, we are going to destroy our equity and spend more money paying our lawyers.
    There is a better solution then this."

    Besides writing drama like "massive litigation"..What's your better solution?

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  14. Please, advise us what you think the "better solution is" and let's begin to enact it immediately.

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  15. All the projects must litigate at once.

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  16. ONCE AGAIN FOLKS, ALL THE PROJECTS MUST LITIGATE AT ONCE.

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  17. How do we communicate and begin organizing?

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  18. First of all. Do you have any suggestions for communicating and organizing?

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  19. We should be hearing from someone soon regarding legal representation for "all" of Platinum's investors. There is just too much wrong with all the investments and people will need to unite and support the legal fund for what is coming. Stay tuned to this site, an announcement will be made soon.

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  20. Beltline office space in demand

    Vacancy rate falls to 10%

    By Mario Toneguzzi, Calgary Herald February 16, 2011

    Dan Harmsen, of Barclay Street Real Estate Ltd., which released a report that says Beltline office space demand is strong.

    CALGARY - Demand for office space in the Beltline area strengthened throughout last year with the vacancy rate declining.

    Vacancy decreased in the fourth quarter of 2010 for the fourth consecutive quarter in the popular area just outside the downtown, according to a report by Barclay Street Real Estate in Calgary.

    The Beltline office vacancy rate fell from a peak of 16.3 per cent in the fourth quarter of 2009 to 10.0 per cent in the last quarter of 2010.

    There was 148,300 square feet of positive absorption in the fourth quarter.

    Annual absorption reached a positive 437,400 square feet for 2010 which is a significant improvement from the negative 571,000 square feet of absorption experienced throughout 2009, said the report.

    Paul McKay, associate with Barclay Street, said the positive leasing activity has been generated because of the increased activity in the energy sector in the province. And that is leading engineering firms and energy-related service companies to look for additional office space.

    "From the second quarter of 2009 to the second quarter of 2010, the market bottomed out in the Beltline but then picked up," said McKay.

    Barclay Street is forecasting the vacancy rate in the Beltline to fall to eight per cent this year. Total inventory is just over 6.4 million square feet.

    "You're going to see some groups - developers - contemplating new construction in the next couple of years," said McKay.

    The suburban office market has seen a similar trend with vacancy ending the 2010 year at 10.8 per cent, down from 15.7 per cent at the start of the year. The suburban office vacancy rate was 17 per cent in the fourth quarter of 2009.

    Annual absorption in the market was 740,726 square feet. Total inventory in the market is just over 15.3 million square feet.

    The report forecasts the vacancy rate in 2011 to increase slightly to 10.9 per cent.

    "For the last year, the train has been taking off. The train is starting to roll," said McKay of the suburban office market.

    That was evident in the fourth quarter year-over-year comparisons. In 2010, absorption hit a positive 150,108 square feet while in 2009 it was negative 364,300 square feet.

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  21. The next hearing date for Court Action #1001-18286 Dominion Place Investors vs. Defendant Multus Investment Corporation (General Partner/Shariff Chandran) is scheduled for TUESDAY,MARCH 1, 2011 @1O:00 a.m. at Court of Queen's Bench, Calgary.
    Address of the Court House is 601-5th Street S.W.
    Justice LoVecchio will be presiding.
    Further investigation by outside accountants into LP original 2009 financial statements and re-stated 2009 financial statements (October 2010), extra mortgages and related party transactions has been approved/ordered by the court as a result of legal counsel's submissions at the hearing held this past Tuesday.
    Investors are once again encouraged to attend this upcoming hearing to stay informed and learn the facts to form their own opinions.

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  22. Quite agree,hopefuly we'll have some news to post by next week on legal representative for ALL of Platinum investors. This will be a call to arms and we will need ALL on board to not only help punish those for wrong doing but also for FULL restitution from ALL guilty parties.
    February 16, 2011 1:09 PM

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  23. Dominion Place Investors vs. Defendant Multus Investment Corporation (General Partner/Shariff Chandran) is scheduled for TUESDAY,MARCH 1, 2011 10:00 a.m. at Court of Queen's Bench, Calgary.
    Your attendance would be appreciated.

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  24. Doug said...

    did you catch the article in the Calgary Herald business section today? "security regulators cracking down on fraud". Talks about ASC taking fraudsters to criminal court and getting jail time. Talks about Calgarian, Robert John Sellars being found guilty of lying to investors, received a two year sentence and was ordered to pay restitution of almost $2 million.

    a step in the right direction.couldn't come at a better time.

    Doug
    February 23, 2011 10:04 AM

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  25. We can't trust anything platinum says, we must have everything audited or they will screw us if we vote to sell dominion without all the facts as to how much money we well get.
    We will get approx 67.000
    Can you really believe that?

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  26. Have they not already consented to an audit? It is included in the calculcation

    Yes I do believe it, that's how it worked the last time my investment with Platinum sold. Of course it was a higher return back then, but that is to be expected.

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  27. I WANT MY MONEY OUT, IF YOU THINK YOU CAN DO BETTER PLEASE BUY MY 2 UNITS FOR $67K EACH AND CONTINUE WITH YOUR LEGAL CIRCUS!

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  28. Ever heard the saying; Bulls make money, Bears make money but Pigs, they get slaughtered!

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  29. Remember a leopord does NOT change his spots! If you think that you will be getting the $67K you are indeed a fool. It is the legal Circus that brought you this proposal!! Read between the lines, who do you think the offer is coming from? Do you know that an offer is not a SALE! Could this be yet another stall tactic? That is why we need legal representation to make sure it is legitimate and make sure that it will go through and not with Chandran overseeing it but the courts!! Why do you think we got the offer on the same date that Chandran had to reply to the auditors questions! Do you know that the audit is only for one year and millions are unaccounted for? So before you start slagging out those few who took their blinders off and decided to confront the reality that the only way to get to this guy is LEGALLY. SO YOU CAN THANK THOSE WHO PUT THEIR MONIES and NECKS ON THE LINE FOR THOSE OF YOU WHO CONTINUE TO complain about the legal cost of which I doubt you have contributed towards BUT certainly reap the benefits from!

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  30. Bad and evil KARMA goes to them who steal from others.

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  31. Not sure who the "pigs" are being referenced here but certainly hope it is not investors.
    It is indeed the pressure from the "Legal Circus" that keeps being referred to that brought you this proposal to sell the Dominion Building in the first place.
    The questions and concerns posed to Platinum and remaining unanswered are why we need legal representation to make sure it IS a legitimate offer and make sure that it will go through and investor distributions will be maximized and preferably NOT with this GP overseeing the sale process.
    Do you think it is just a coincidence that we got the offer after the deadline by which Chandran was ordered by Justice Horner to reply to the auditor's questions (and apprently we are informed did not do so)?
    Do you know that the INDEPENDENT audit to date discovered millions we hear are still unaccounted for?
    Does it not concern you that the 2nd and 3rd mortgages toalling $3.1 million registered against our building are not even mentioned in the General Partner's "Calculation of Distributions to Investors???
    Surely you do understrand that these extra debts have to be settled before any land transfer (sale) can take place?
    By the way guess you missed the lawyer's well documented point that these extra mortgages (for what we still do not know) actually caused along with other issues created by the GP breaches of the original mortgage?
    What about Riaz Mamdani's Right of First Refusal Agreement to purchase our building that is in place?
    What is the $1.5 million in estimated and accrued expenses etc?
    Are you willing to pay Mr. Chandran $315,000+ from proceeds of the proposed sale with so many questions still unanswered, the existence of amended 2009 financial statements we have never even been provided and other outstanding and important issues?
    Are you not curious in the least but just willing to accept Mr. Chandran's "numbers" at face value and accept not being provided any real details from him or even an appraisal certificate as to our building's value?
    Do you then also not believe that this is information Limited Partners ARE ENTITLED TO?
    This is truly AMAZING to say the least!
    Perhaps you need to understand that the only way to get to THE TRUTH about how and where our money has been used or an understanding of this LP's financial situation is and has been through LEGAL action.
    Chandran certainly would not offer any information or proper disclosure any other way would he?
    Or perhaps your experience accessing accurate and timely information, transparency and disclosure has been different than that of other investors?
    Many investors wonder how many postings are not even from legitimate investors but instead coming from Platinum's office/management in an attempt to ensure investors fight among themselves instead of focusing attention on the actual issues which are their investments and the PROBLEMS that clearly exist to those of us who walk around with open eyes and ears.
    Every investor is entitled to their opinion but perhaps instead of wasting time arguing with one another here we should all be rushing to Chpters/Indigo to pick up and read a copy of Sun Tzu's "Art of War" to keep up to speed with Chandran!

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  32. Anonymous said...

    Enron management and Arthur Andersen auditors lied to Enron's pensioners and investors, thus stealing their money.

    Arthur Andersen went under for lying.

    Enron's Ken Lay died in prison and the other management team who lied are still in federal prison where they should ROT!

    Did Enron employees who lost their pension knew the Enron management was going to steal from them? Management gave employees pension in Enron stock and said these stocks are good in Enron. Meanwhile, management was selling their stock in Enron. The same applies in this situation. It was all LIES AND DECEPTION, cover-ups and STEALING which equals big time fraud.
    Saturday, March 12, 2011 10:32:00 PM

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  33. Do not invest with HOLZBREN CAPITAL nor GATEHOUSE CAPITAL INC.

    You know who is there!

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  34. SHARIFF CHANDRAN HAS JUST SENT A LETTER TO DOMINION PLACE INVESTORS CALLING FOR A VOTE AS TO WHETHER THE PARTNERSHIP SHOULD PAY THE LEGAL FEES OF THE PLAINTIFFS WHO HAVE BROUGHT LEGAL ACTION AGAINST THE GENERAL PARTNER (SHARIFF CHANDRAN)ON BEHALF OF DOMINION INVESTORS.
    A VOTING DEADLINE IS SET FOR MONDAY MAY 23, 2011 A STAT HOLIDAY.
    BEFORE YOU VOTE-----
    IF YOU ARE A DOMINION (QUALIA V) INVESTOR AND HAVE ANY QUESTIONS OR WOULD LIKE TO DISCUSS THIS VOTE AND SURROUNDING LP INVESTMENT ISSUES PLEASE CONTACT DEANNA OXTOBY @ 403-993-4266.

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  35. Shariff Chandran has just sent a letter to Dominion Place investors calling for a vote as to whether the partnership should pay the legal fees of the plaintiffs who have brought legal action against the general partner (Shariiff Chandran) on behalf of all Dominion investors. A voting deadline is set for Monday May 23, 2011, a Stat Holiday.
    Before you vote..... If you are a Dominion investor and have any questions or would like to discuss this vote and surrounding LP investment issues, please contact Deanna Oxtoby @ 403-993-4266

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  36. Has anyone read the latest Dominion title document? There's another $600k registered against our building just last month! That's a total of $3.7 million taken against our building
    with no explanation in just 2 years!

    Has anyone read the latest 2010 financial statements? Our administrative fees went from $24,000 in 2009 to $1 Million in 2010!!

    Does anyone care? Is that not alarming?

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  37. Shariff Chandran is only using limited partners' money to accomplish his own personal and financial goals and does not care a s about us. We should charge him penalties and interest because he cannot get financing from the major banks like the CIBC and others.

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  38. Dominion Investors please be patient and do not send in your vote until you hear from Legal Counsel. If you have not received the most recent affidavit and/or 2010 financial statements, please contact Deanna at
    403-993-4266

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  39. Does anybody know the subject removal date for the original offer accepted?

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  40. There is bad things occuring here fellow investors. All along I have watched this unfold and I have reserved voting as I wait for legal counsel to work. It is obvious that Multus is playing a shell game with our money and the only way to hold them truely accountable is through legal process. This is why I put money up for legal...Multus is not playing by the rules and they need to be forced to do the right thing...otherwise I believe they will disappear into the night with everything.

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  41. To Posting Thursday May 19, 2011 9.22 AM

    Anonymous said...

    Shariff Chandran is only using limited partners' money to accomplish his own personal and financial goals and does not care a s about us. We should charge him penalties and interest because he cannot get financing from the major banks like the CIBC and others.
    Wednesday, May 18, 2011 6:28:00 AM

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  42. Kiss goodbye to your hard earned money, I guessed a lot of them comes from equity of their houses anyways they are all leverage too. LOL...

    if you dont act quickly.. you loose your money guaranteed... It seems a lot of platinum equities investors are novice investors. They dont act collectively when there is issue like this... They dont know what to do...

    It is your money guys, act quickly and swiftly.. Class action law suit is best for this case...

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  43. I agree . Class action law suit is the best solution.

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  44. It's Deanna writing. We can't do a class action lawsuit. We've already looked at that possibility. Did you and everyone else receive the letter today from Kelly Hannan who is on our legal team?

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  45. What's going on the purchase contract for $30 mil?Is it on hold or has it got to do with the receivership?What are we waiting for now?

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  46. Report your real estate investment fraud to the RCMP headquarters in Ottawa, Ontario at


    1-888-495-8501

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  47. Dominion Investors:



    On February 25, 2011 Mr. Chandran wrote to investors regarding a $30 million sale offer on the Dominion Building. With that letter, Mr. Chandran provided a Calculation of Distributions to Investors showing the approximate per unit amount that would be distributed to the limited partners ($67,063.73) on the sale. Unfortunately, the Calculation of Distributions to Investors also showed the Partnership's mortgage balance as at March 1, 2011 to be less than $13 million when a current Title search shows that the Partnership's mortgage balance is $16.7 million (including a new $600,000 mortgage registered against the property on March 31, 2011). Despite the obvious impact that the increased mortgage liability has on a distribution to the limited partners, Multus did not disclose the new mortgage amounts to the limited partners and has not offered any explanation.



    The Partnership's 2010 financial statements have been sent to some Limited Partners. Those statements show that "Administrative Fees" increased by more than $1 million from 2009 to 2010 . That is a 4500% increase! The financial statements appear to have been sent out at the beginning of May. If you do not have them, let us know and we will forward them.



    While it is not new information, it is important to remind limited partners that Multus (Mr. Chandran) granted a $600,000 mortgage against the property to Strategic Financial in 2009. The nature of this mortgage has been uncovered in the course of the lawsuit against Multus. Mr. Chandran has now said twice under oath that it would be discharged at no cost to the partnership (but hasn't yet fulfilled those promises despite making them months ago). If Mr. Chandran does what he promised to do, then this lawsuit has saved the partnership $600,000 by preventing the payout of a $600,000 mortgage that Multus should have never granted.



    There is concern that the sale proceeds could be used or paid out improperly. Because of that, the Plaintiffs applied to the Court on May 13th for an order to protect the sale proceeds. Despite vigorous opposition by Multus, that order was granted and prevents the sale proceeds from being distributed without a further order from the Court (except for certain exceptions such as outstanding property tax).



    We must continue to ask questions and get information from Multus and Mr. Chandran (the limited partners have a right to that information under the Partnership Agreement). We do not know if partnership funds have been used properly or improperly. But there are many serious questions and concerns that Multus has refused to answer and notably, it has refused to provide the records that are necessary to trace the use of partnership funds. Because of Multus' refusals to answer simple questions and provide basic explanatory records (or even access to such records), a Court appointed officer (receiver or inspector) is necessary to conducting a full audit that details the use of partnership funds.



    The legal costs incurred in this lawsuit are a direct result of Multus' refusals to provide the information that it is required to provide under the Partnership Agreement and that it was compelled to provide by certain Court orders. It is our view that Multus should not pay its legal costs with partnership money when those costs are a direct result of its own improper refusals and conduct. For the same reasons, it is also our view that Multus should pay the legal costs incurred by the plaintiffs in this lawsuit. The Court will be asked to provide that relief first. The partnership should only pay legal fees as a last resort and only because the partnership as a whole (not the individual plaintiffs) has benefited $600,000 from the plaintiff's actions and may benefit further by the tracing (and if necessary, the recovery) of partnership funds.



    Please call Deanna Oxtoby directly at 403-993-4266 if you have any concerns or questions.

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  48. Dominion Investors:



    On February 25, 2011 Mr. Chandran wrote to investors regarding a $30 million sale offer on the Dominion Building. With that letter, Mr. Chandran provided a Calculation of Distributions to Investors showing the approximate per unit amount that would be distributed to the limited partners ($67,063.73) on the sale. Unfortunately, the Calculation of Distributions to Investors also showed the Partnership's mortgage balance as at March 1, 2011 to be less than $13 million when a current Title search shows that the Partnership's mortgage balance is $16.7 million (including a new $600,000 mortgage registered against the property on March 31, 2011). Despite the obvious impact that the increased mortgage liability has on a distribution to the limited partners, Multus did not disclose the new mortgage amounts to the limited partners and has not offered any explanation.



    The Partnership's 2010 financial statements have been sent to some Limited Partners. Those statements show that "Administrative Fees" increased by more than $1 million from 2009 to 2010 . That is a 4500% increase! The financial statements appear to have been sent out at the beginning of May. If you do not have them, let us know and we will forward them.



    While it is not new information, it is important to remind limited partners that Multus (Mr. Chandran) granted a $600,000 mortgage against the property to Strategic Financial in 2009. The nature of this mortgage has been uncovered in the course of the lawsuit against Multus. Mr. Chandran has now said twice under oath that it would be discharged at no cost to the partnership (but hasn't yet fulfilled those promises despite making them months ago). If Mr. Chandran does what he promised to do, then this lawsuit has saved the partnership $600,000 by preventing the payout of a $600,000 mortgage that Multus should have never granted.



    There is concern that the sale proceeds could be used or paid out improperly. Because of that, the Plaintiffs applied to the Court on May 13th for an order to protect the sale proceeds. Despite vigorous opposition by Multus, that order was granted and prevents the sale proceeds from being distributed without a further order from the Court (except for certain exceptions such as outstanding property tax).



    We must continue to ask questions and get information from Multus and Mr. Chandran (the limited partners have a right to that information under the Partnership Agreement). We do not know if partnership funds have been used properly or improperly. But there are many serious questions and concerns that Multus has refused to answer and notably, it has refused to provide the records that are necessary to trace the use of partnership funds. Because of Multus' refusals to answer simple questions and provide basic explanatory records (or even access to such records), a Court appointed officer (receiver or inspector) is necessary to conducting a full audit that details the use of partnership funds.



    The legal costs incurred in this lawsuit are a direct result of Multus' refusals to provide the information that it is required to provide under the Partnership Agreement and that it was compelled to provide by certain Court orders. It is our view that Multus should not pay its legal costs with partnership money when those costs are a direct result of its own improper refusals and conduct. For the same reasons, it is also our view that Multus should pay the legal costs incurred by the plaintiffs in this lawsuit. The Court will be asked to provide that relief first. The partnership should only pay legal fees as a last resort and only because the partnership as a whole (not the individual plaintiffs) has benefited $600,000 from the plaintiff's actions and may benefit further by the tracing (and if necessary, the recovery) of partnership funds.



    Please call Deanna Oxtoby directly at 403-993-4266 if you have any concerns or questions.

    ReplyDelete
  49. Deanna writing. Apparently there is still a condition to be removed on the $30 million TRL sale. We have given permission for an extension so that condition can be removed. According to Shariff's letter, we are told that we could be waiting on 2 more pending offers. I will be in touch to let you know what happens next.

    ReplyDelete
  50. Dominion investors:
    Please send in your 'yes' vote to have the legal and accounting fees paid by the partnership. The deadline is May 31st which is tomorrow.
    Deanna Oxtoby

    ReplyDelete
  51. I havn't received the letter from PE regarding the vote.And I was told verbally the deadline for the vote was May 23.Actually I really don't know what is really going on.Could anybody explain to me?
    By the way,when is the condition removal date for the 30 million offer?

    ReplyDelete
  52. Shariff Chandran and the Chandran Group are wasting limited partners' money by fighting with limited partners. Shariff and his Chandran group should pay for his wrongdoings out of his own personal bank account. Using limited partners' money to fight limited partners is also STEALING from limited partners.

    ReplyDelete
  53. Hiring expensive lawyers to fight limited partners for their own money and earnings is GRAND LARCENY.

    This just goes to show that Shariff Chandran and the Chandran group are nothing but con artists.

    ReplyDelete
  54. Just blaming Chandran couldn't be a solution.We need some concrete actions.I am wondering if we could legally ask special meeting for all investors.There we hopefully could get answers for million questions.

    According to PE,the first offer was not successful in early May and have received two more offers.Then,what are we waiting for now?
    should we have voted for the new offer earlier?

    With no distributions for two years and questionably increasing liabilities,we seem to waste time and money. why don't we ask for special meeting to discuss everything?

    ReplyDelete
  55. To Posting Thursday June 2, 2011 6.07 PM

    Some limited partners are investors in several projects. Those who are, can easily connected with others, who in turn can meet with more limited partners. By relaying contact information amongst the groups' members, we can then proceed to organize meetings to select team leaders and coordinators. However, those members who are multiple investors in PE, must be proactive and willing to get the ball rolling.

    We can next proceed to protest in front of 906-12th Avenue SW building with the broadcast media on hand.

    ReplyDelete
  56. Anonymous said...

    To Posting Friday June 3, 2011 8.17 AM

    1. If you live in Calgary, you can go to the police station closest to 906 12th Avenue SW Calgary to file criminal charges of theft or you can go to the police station nearest to where you live. Get other limited partners of your project Eleven eleven building to file criminal charges of theft as well.

    2. Next, you head down to the RCMP office to file criminal charges as well. You can do the same as the police reporting by getting others from your Eleven eleven building project to file criminal charges too.

    3. Next you organize limited partners from your group to hire a legal team.

    4. Next you organize limited partners from your group to get together with limited partners of other groups to go to the broadcast media, meaning, television (Global news, the National or CTV) to protest outside 906 12th Avenue SW Calgary.
    Sunday, June 05, 2011 4:12:00 AM

    ReplyDelete
  57. Any body knows what happened to the offers?

    ReplyDelete
  58. I've invested in deefoot court and it is sucks to be in that group.. they are just passive investors , they think our invested money will be there after our new mortgage term. I hope someone from our group come forward and lead the way for law suit.

    The best way to do this is to file class action law suit. All investors from diff group suit PE(class Action). And it saves money too.. We are stronger when we are in a big group and we should form a legal comittee, representing different group. And one person should represent all the group and we will conpensate that person when we get the judgment..

    What do you think guys? lets form a legal comittee to form a class action law suit. cheaper and i think lots of investors will join for sure. We are a lot stronger when we are in a big group, and more economical...

    ReplyDelete
  59. To June 10 1:37 pm about building sale:

    Maybe this lady knows what is happening?
    Did you try contacting Platinum?

    Please call Deanna Oxtoby directly at 403-993-4266 if you have any concerns or questions.

    Sunday, May 22, 2011 1:37:00 PM
    Deanna writing. Apparently there is still a condition to be removed on the $30 million TRL sale. We have given permission for an extension so that condition can be removed. According to Shariff's letter, we are told that we could be waiting on 2 more pending offers. I will be in touch to let you know what happens next.

    ReplyDelete
  60. Shariff Chandran still trying to delay a payout to limited partners because he wants to put another mortgage on the Dominion Place, you suckers!

    ReplyDelete
  61. Anyone know what is happening with the legal action brought forward by Dominion investors against the GP?

    ReplyDelete
  62. Shariff Chandran will put so many mortgages on the Dominion building until there is no distributions left to pay out to limited partners who are suckers for Platinum Equities.

    ReplyDelete
  63. It is almost one year and half that we did not get any distribution from Platinum. Since 5 years ago they had our money plus they put so many mortgages on the Dominion building. WHAT A GREAT JOB THEY DID!

    ReplyDelete
  64. To Posting Monday June 20, 2011 9.10 AM

    Shariff Chandran did a great job of RIPPING OFF limited partners of their hard earned money for himself, his sister and other family members and his conspirators. That's what he did!


    Shariff Chandran gets the cash, Riaz Mamdani gets the properties and limited partners are left with nothing, just holding a bag of wind.

    That is what is happening to limited partners and you say he is doing a great job of ripping off limited partners of their hard-earned money.

    ReplyDelete
  65. I'm an investor in Dominion Place. Can anyone tell me what the status is right now?

    ReplyDelete
  66. AnonymousJan 18, 2012 10:42 PM

    To All Limited Partners of Platinum and Accolade Equities Inc., past and present of all projects, please join our litigation group by emailing

    first, your contact information to

    sue_chandrans@yahoo.com.

    We shall advise you of what to do next after receiving your email first.

    ReplyDelete
    Replies
    1. this email bounces invalid recipient

      Delete
  67. Anybody has any idea of what's going on Dominion Place?
    Completion is end of October 2011 and no distributions are made yet.Who's got the money?

    ReplyDelete
  68. According to Deanna Oxtoby 403-993-4266 txt msg sent Thursday, Jan 19; title has transferred a while back and they are waiting on discharge statement to make sure the title is clean which was expected January 16th however several contractors who had filed liens had not been in to sign. It's anyone's guess as to what is happening as now.

    Can someone in Calgary pay a visit to their offices? I will visit the Vancouver office, if it still exists?

    Other communications I have received are as follows:

    From: Janine Couture [mailto:jcouture@accoladeequities.com]
    Sent: December-22-11 1:31 PM
    To:
    Cc: 'Chitra Chandran'
    Subject: RE: Dominion Place - Distribution update

    My apologies for the lack of clarity. I was referring to the distributions from proceeds of sale of the building.

    From:
    Sent: Tuesday, December 20, 2011 4:41 PM
    To: Janine Couture
    Subject: Re: Dominion Place - Distribution update

    What do you mean distributions? Has the building sold?

    Sent from my BlackBerry device on the Rogers Wireless Network
    ________________________________________
    From: "Janine Couture"
    Date: Tue, 20 Dec 2011 15:57:15 -0800
    To:
    Subject: Dominion Place - Distribution update


    Dear Investor,

    We would like to update you with regards to the distribution for Dominion. Unfortunately, we will not be able to get distributions out until the second week of January. We apologize for the delay and appreciate your patience.

    Regards,

    Janine Couture
    Platinum Equities Inc.



    From:
    Sent: December-20-11 11:43 AM
    To:
    Subject: Re: Dominion

    Cynthia just got your message. The closing deadline is tomorrow. We've been sitting and waiting on the closing lawyer. Kelly who is our lawyer, gave him the deadline of Dec 21st.
    Checks should follow soon.
    Deanna

    From: Janine Misisco [mailto:jmisisco@accoladeequities.com]
    Sent: December-01-11 3:20 PM
    To: Cynthia@aasen.ca
    Cc: 'Chitra Chandran'
    Subject: Voice message follow up

    Hello Cynthia,

    I am just following up on your voicemail. We will be forwarding the accounting report as soon as it is prepared.

    Regards,

    Janine Misisco
    Platinum Equities Inc
    1-877-608-2828

    ReplyDelete
  69. I wonder if this will stick and how long we will wait to get these cheques. Seems they have no problem patting themselves on the back for the excellent job they have done. What a bunch of crap. WE KNOW THE TRUTH! Millions have gone into their pockets.

    From: Chitra Chandran
    Sent: Wednesday, February 15, 2012 12:33 PM
    Cc: Shariff Chandran ; Janine
    Subject: Dominion- Update

    Dear Investors,



    We are happy to advise you that we have now received the final settlement for lienholders from the lawyer. These liens are currently being discharged. I have also attached a current title for Dominion, highlighting the old caveats from Toronto Dominion Bank- Corporate and Hunt Edwards & Assoc (previous tenants), and the other caveats are builders’ liens that are to be removed. As per our undertaking for closing these liens had to be settled prior to the release of all funds. All cheques will then be distributed at that time from the lawyer and a Statement of Adjustments will be enclosed as well.



    The sale of the Dominion Project has been a successful transaction with a positive return for investors.



    We apologize for the delay and appreciate your patience.



    Regards,



    Chitra





    Chitra Chandran


    Platinum Equities Inc.
    Suite 910, 906-12th Avenue S.W.
    Calgary, AB T2R 1K7
    Toll Free: 1877-282-2601

    ReplyDelete
  70. By the time, we get our cheques, the amount paid to us will be miniscule to say the least.

    Shariff and Chitra Chandran would have taken most of our money and send us the pennies only.

    Platinum and Accolade Equities, Shariff, Chitra and Riaz have filled and overflowed their pockets with our dollars. What a bunch of broad daylight thieves.

    We must run them out of town and our country.

    ReplyDelete
  71. In other words, get rid of them.

    ReplyDelete
  72. Get Shariff and his sister, Chitra Chandran sent back to Malaysia and Riaz Mamdani back to Pakistan or Timbuktu or to hell where they belong.

    ReplyDelete
    Replies
    1. Was this post inspired by whiskey or vodka?

      Delete
    2. This was inspired by their theft of limited partners' hard-earned money through fraud.

      Delete
  73. Do you know when we get our money?

    ReplyDelete
    Replies
    1. Has anyone heard from Chitra, Janine, or Deanna since their announcement on February 15, 2012 regarding the disbursements to investors?

      Delete
  74. Nobody in the Calgary and Vancouver office answers phones and replys to emails.Very weird.
    Does anybody know the contact info for the lawyer?

    ReplyDelete
    Replies
    1. Maybe try Deanna Oxtoby @ 403-999-4266 or her lawyer Kelly Hannan @ 403-260-0126.
      Maybe they know something or can give you the lawyer's contact info?
      Surely somebody has to know what is going on!

      Delete
  75. When we received the letter from Chitra Chandran saying they were going to return our money, we were so delighted and ecstatic. My wife and I are 2-time losers, first to Concrete Equities and now Platinum Equities.
    If we can get back at least 1 cent on the dollar, we would be grateful and that would make me and my wife only one time losers.
    We live in Calgary and plan to go down to see the Chandrans at their office and give them hugs, kisses and handshakes. My wife will do the kissing and hugging and I will do the hugging and handshakes. If Riaz is around, he'll get some loving too.
    That is what they need. We love to kiss their unwashed asses, genitalia and under their unwashed feet and toes. That is how much we love these guys.

    Friends of the Chandrans and Mamdani in Calgary

    ReplyDelete
  76. Anybody got distribution cheque?

    ReplyDelete
  77. Did everybody get distribution cheque?
    If so,please let me know who sent it.

    ReplyDelete
  78. Please let all of us know if there has been a distribution cheque by anyone?

    ReplyDelete
  79. April 9,2012
    As of yet we have received nothing , cannot contact or get information from anyone. What is going on???

    ReplyDelete
    Replies
    1. Even T5013 has not been delivered yet. No idea why the lawyer is holding the money.

      Delete
    2. How do you know "the lawyer is holding the money"?
      What lawyer?
      What happened to Deanna Oxtoby and the lawyers who were supposed to be acting on our behalf?

      Delete
    3. I have contacted some of the people that have leins on the property and none of them have received any money as of the first part of April 2012

      Delete
    4. i received an email from Janine on Thursday ,April 5 2012 stating that the lawyers have the money and they are writing cheques in bunches, but it will take time

      Delete
    5. Why will it "take time" actually?
      The building sold months ago.
      Generate cheques through a computer, hire a "Girl Friday" to stuff envelopes and put them in the mail.
      Better yet leave the cheques at the front desk and advise investors to come and pick them up.
      SIMPLE!

      Delete
  80. I got T5013 but haven't heard or received anything from Qualia or Platinum Equaties at all. Where do you guys get this information? It is true that the building is sold, and we're getting the distributions? Only thing I know was that I didn't get anything from PE for long time ...

    ReplyDelete
  81. May 1st. No cheques yet. Something must have been wrong. Or they are making fun of investors.
    No communications nor explanations. Did anybody talk to the Chandrans or lawyers?

    ReplyDelete
    Replies
    1. I thought Deanna Oxtoby and the lawyers that were hired were taking care of this for investors to ensure everyone received their money?

      Delete
    2. I inquired in late Feb and I got this response on March 11.

      Hello,

      They just going over the final reporting, it has to come out of the lawyers office. This is overwhelming for them due to the volume of cheques that need to be prepared. We will let you know as soon as there is more information.

      Regards,

      Janine Couture
      Platinum Equities Inc





      I'm like everyone else.....what's going on?

      Delete
    3. Sorry....I got that response on April 11.

      Delete
  82. Re T5013
    Platinum issued a T5013 for Dominion Place with $14,031 of rental income that we have to pay incometax on.
    This rental income is recoop of capital cost allawance deducted over the last 6 years.
    The problem is Platinum deducted the this CCA from the rental income for tax purposes, but since in was not a cash outlay this income should have been distributed to the investors.
    Now we are forced to pay tax on fund we never received.

    From my calculation with the figures taken from Platinum's annual statements they owe each unit aprox $6000.- in unpaid distributions

    ReplyDelete
    Replies
    1. Take this up with the Canada Revenue Agency about how you are being ripped off by Shariff Chandran, Platinum, etc.


      Ask for a forensic audit of Platinum accounting records, Chandran's bank account, Platinum's bank account too.

      Delete
  83. Can anybody confirm that the lawyers have the money and hold it?
    If so,please let me know the names. I'd like visit them and ask if they can be sued.

    ReplyDelete
  84. I heard it was a firm called Merani Reimer

    ReplyDelete
  85. To recover your money contact Byron Nelson at byron@mnllp.ca Several others allready have done so.

    ReplyDelete
    Replies
    1. Who is he? And how is he involved in?

      Delete
  86. Something wrong is going on now. So far I have thought that Merani Reimer would send the distriburin cheques,albeit slowly. My friend sent an email to them and asked how things going on. But they said they had not retained in this project.Then who has the money and who is not telling the truth? Is this scam?
    No person in the Vancouver and Calgary office is answering phones and emails.Are they still existing?
    Is waiting and doing nothing the only option for us? If somebody knows something,please let me informed.

    ReplyDelete
  87. Mamdani and Chandran are stealing your rightful money. Even after you sold the building they still want to steal your money.


    Mamdani and Chandran are cheapskates and parasites (leeches aka blood suckers).

    Go after them.

    ReplyDelete
  88. Go to the RCMP and Calgary police. Report theft.

    ReplyDelete
  89. Portion of a posting on this blog May 22, 2011!

    There is concern that the sale proceeds could be used or paid out improperly. Because of that, the Plaintiffs applied to the Court on May 13th for an order to protect the sale proceeds. Despite vigorous opposition by Multus, that order was granted and prevents the sale proceeds from being distributed without a further order from the Court (except for certain exceptions such as outstanding property tax).

    Please call Deanna Oxtoby directly at 403-993-4266 if you have any concerns or questions.

    SO WHAT HAPPENED????
    DID WE NOT VOTE TO PAY THESE LAWYERS TO ACT IN OUR BEST INTERESTS???

    ReplyDelete
  90. To recover your money from the Dominion Building contact Jamie Flanagan at his law office Jamie recovered funds for Sunpark Pemberton. He will do this for under $500.00 if there are 10 investors or more.

    ReplyDelete
    Replies
    1. I'm up for this. Anyone else?

      Delete
    2. Why do we have to retain laywers to get our money? My understanding is that the building was sold last year and the proceeds is at the trust account of lawyers.What are the real issues of distribution being delayed? Do we have to sue the distribution lawyers or Platinum Equities or both?
      Before hiring lawyers,can anybody tell us real story on what's going on now?

      Delete
    3. Mamdani and Chandran are stealing your money by withholding your rightful distribution just like they withhold your regular distributions.

      Why is it so hard to believe and understand?

      They want to steal everything from limited partners.

      Hire lawyers to get your rightful distribution.

      Delete
    4. Rumors are flying and I don't know which one I should catch.What is happening now should not be tolerated.For years,I have not got any letters from Platinum Equities.And the distibution lawers are delaying to send cheques without any explanations.I am quite at a loss how this could be possible.
      As limited partners,we have the right to be disclosed properly.Rather than seeking for laywers individually,why don't we have a meeting for limited partners.From there we can appoint our representatives and lawyers if necessary. Thers's no more time left.

      Delete
    5. Are you suggesting a meeting as a whole limited partners? How do we get an access to the list of all the investors? To me, this is the only way to contact/connect to some of you guys.

      Delete
  91. Information meeting was held on Jan 29,2011.I don't know who hosted it.Maybe Deanna should do it.

    ReplyDelete
  92. Does anyone have a contact number for Jamie Flanagan . Tried calling Deanna and her mailbox is full

    ReplyDelete
  93. I have left a voice message with Jamie Flanagan and I was going to suggest that a meeting with all interested Limited partners be held first.I saw only twenty email address on the note from Ben Subelack that I received today, I am sure there were a lot more partners than twenty.
    Anyways Jamie is a lawyer with McLennan and Ross and his phone number is 403-303-9102.
    I am also wondering what the urgency is in having to reply by Friday as Ben indicated in his email.
    I am certainly willing to contribute $450.00 but I want to hear from Jamie first and why we need to go this route as I thought this was being handled by Grant Vogeli at Burnet, Duckworth & Palmer who was representing Deanna Oxtoby.

    ReplyDelete
  94. What exactly have these BDP lawyers retained by Deanna Oxtoby done for investors?
    Have you been paid from the sale of our building 5 months ago?
    I know I haven't and haven't heard of any plans from these people to get me my money either.
    Have you?
    If so please share with the rest of us who are still sitting in the dark with no money and no answers from anyone including Platinum Equities.

    ReplyDelete
  95. Has anyone heard back from Jamie if he can help us in this matter. I am willing to pay the 450 to get some results.

    ReplyDelete
  96. I have not heard back from Jamie and I have left voice and email messages. I am thinking that if you didn't contribute to BDP legal fund BDP lawyers last February when theyhad originally requested in their lawsuit action against Multis then you will likely not be getting any money through their legal actions taken. I didn't contribute any money to Deanna's lawyers and now I believe my only options if I want to get any money back to acquire the service of Jamie wth Mclennan & Ross. I as well am willing to pay $450.00 if it looks promising, so I have sent a copy of my Platinum Limited Partnership certificate and my driver license as requested through Ben from Jamie. I also indicated I would like to see a meeting with all those partnerhip holders who are not likely to get any money through the BDP lawyers cause they didn't contribute to their legal fees, and Jamie from McLeannen and Ross if he ever replys back. So hopefully we get enought interest and response to keep our costs at $450.00 or less. When I get more info I will be sure to pass it on. BA

    ReplyDelete
  97. Investing in Dominion Place has been really a nightmare to me.I am almost bancrupt now.Difficult to understand how the company like Platinum Equities could be still existed now. I don't remember when was the last time I got the formal letter from the company.
    Looks like the building was certainly sold last year and the money is in the trust account of Merani Reimer.Only small number of people got the cheques months ago and stopped now.They are not giving any explanations and even denying of their involvement in this.
    We voted last year to pay for the lagal fee of Deanna's laywers.They said they were successful with the settlement with Platinum Equities,but what exactly have they done for investors?
    There is no reply from Jamie yet.Who wouldn't pay for $ 450 for a quick payback? But I doubt if this is a realistic number.Many rumors are hanging around,which makes it more difficult for us to know the true things.
    With frustration and anger,I'd like to suggest a limited partners' meeting and visit the Platinum Equities and distribution lawyers and let everybody know the true things and let the people involved deserve punishment for their wrongdoings. For this I am willing to pay more than $ 450 by borrowing more money.

    ReplyDelete
  98. It is about time that all platinum investors get together and form a legal action group and go after Platinum’s principals to many projects I would allege have been stolen from us, to mention a few Optima, Sunpark, Dominion, Greenwich Park, Lucaya, Deerfoot Court.
    We need an email list of all investors, Who can help

    ReplyDelete
  99. I think extreme urgency should be felt among investors now. Looks like BDP has applied the Court Ordered Receivership and the word such as bancruptcy is now being mentioned.
    I have been led to believe that the sales proceeds are in the trust account of lawyers and distribution cheques are on th way,but the reality may not be what it is supposed to be.
    I do not know what the 'receivership' means.But one thing clear to me is that court acknowledges big problms and lengthy and costly implications will be followed.
    I can not get more angry with these situations.I do not know what the real problems are and have not been properly informed whatsoever.But just blaming is not an solution but only proper ACTION is needed now.
    There are no formal communication channels among investors now.I have little idea how to make actions,but i'd like to suggest everybody on this blog to be united and be properly informed and to discuss the best ways to protect ourselves.Once again URGENCY is a key.

    ReplyDelete
    Replies
    1. How about we share our real email address here rather than using "Anonymous"? Will that be a good idea or not?

      Delete
  100. I am willing to start a master contact list so we can all get together in a meeting for all the projects.
    what I need is your email, phone, and wich investments you are in.
    send the info to:

    platinum.investors2012@gmail.com

    ReplyDelete
    Replies
    1. As we're compiling the list, how about posting the list at certain place so we can verify it's in progress? Also that way everyone can share the information not just certain people.

      Delete
  101. has anyone started a list. Has anyone heard anything from platinum or any other investors

    ReplyDelete
  102. I have sent a copy of my Platinum Limited Partnership certificate and my driver license as requested through Ben from Jamie. I also indicated I would meeting with all those partnerhip holders who are not likely to get any money through the BDP lawyers cause they didn't contribute to their legal fees, and Jamie from McLeannen and Ross if he ever replys back. So hopefully we get enought interest and response to keep our costs at $450.00 or less. When I get more info I will be sure to pass it on. BA

    ReplyDelete
  103. Rest of letter:
    Please contact Deanna Oxtoby to discuss contributing towards the Receiver's retainer.
    Recent Class Action
    We are aware that other Platinum investors are pursuing an "omnibus" class action lawsuit on behalf of all Platinum Equities and Leben Reit investors.
    We understand that Qualia V limited partners are being encouraged to join that class action and incorrectly being told that our firm has a legal conflict vis-a-vis Multus, Qualia V or any of the entities associated with Platinum Equities. There is a significant amount of misinformation and baseless rumours being spread and we would encourage you to be sceptical of this information.
    In our view, a class action against all Platinum entities is not in the best interests of the limited partners in Qualia V — it is a very long process that may result in Qualia V funds being used to pay a Court Judgment or global settlement to all Platinum investors rather than being distributed to Qualia V investors only. Please consider this carefully before making a decision on the direction you wish to take. If you would like to participate in the class action and no longer wish to be part of our clients' supporting group, please let Deanna Oxtoby or I know and you will be removed from our mailing list.
    Yours truly,
    BURNET, DUCKWORTH & PALMER LLP

    ReplyDelete
    Replies
    1. Part # 1 letter:
      VIA EMAIL
      June 27, 2012
      Attention: Oxtoby Group Limited Partners
      Qualia Real Estate Investment Fund V Limited Partnership (Qualia V)
      We are writing to update you on the steps that we are taking against Multus Investment Corporation (Multus)
      as the general partner of Qualia V.
      We apologize if you have attempted to contact us directly over the past few weeks and have not heard back
      from us. Please understand that we are dealing with numerous emails and telephone calls from investors every
      day. It is extremely time consuming and difficult to respond to everyone in circumstances where we are trying
      to minimize the legal expense to our clients.
      Court Appointed Receiver
      We have finalized Court Materials in support of a Court Application to:
      1. Appoint a Receiver over the business and affairs of Multus and Qualia V; and
      2. Investigate Multus' sale of the Dominion Building and any use of the sale proceeds.
      Prior to making the Court Application we are required to obtain the consent of the proposed Court Appointed
      Receiver. Essentially that is an acknowledgement by the Receiver that they are willing to accept the Court
      appointment. We have been in discussions with a very reputable accounting firm who is willing to act as
      Receiver. However, prior to providing us with the necessary consent, the Receiver requires some assurance
      that its fees will be paid.

      Delete
    2. Part # 2 of letter:
      In some cases, a Receiver knows that it will be taking control of a company or partnership with sufficient
      assets to cover its fees. Unfortunately, that is not the case here. We know that Qualia V owned the Dominion
      Building but title has already passed to the purchaser free and clear of any security registered in favour of
      Multus or Qualia V. The entirety of the purchase funds should have been paid to Multus at the same time that
      title was transferred to the purchaser. The problem is that we do not have any evidence as to the actual
      whereabouts of the purchase funds. While there are good indications that the purchase funds are safe and
      could be quickly secured by the Receiver, that may not be the case. Accordingly, we cannot adequately assure
      the Receiver that Qualia V has readily available funds or assets to cover the Receiver's fees.
      The Receiver has agreed to provide the required consent, accept the Court Appointment and begin working
      upon receiving a $25,000.00 retainer. The Receiver has advised that the retainer amount will likely be
      sufficient for it to complete the initial steps of taking control of Multus and Qualia V. securing funds and
      determining whether any funds have been improperly transferred to third parties. The Receiver would then
      report its findings to the Court and Qualia V investors. If Qualia V's funds are secured, the Receiver's fees will
      be paid from those funds (not the initial retainer amount) and the Receiver will continue towards completing
      the limited partner distribution.

      Delete
    3. You need to sue Burnett, Duckworth, Palmer who works for Chandran and Mamdani due to negligent handling of the first case.

      The money you get from this lawsuit can pay for your second lawsuit.

      Delete
    4. You think we are all made of money apparently.
      No-one needs to waste time and money suing BDP Law. They are a secondary issue to all of this BS.
      They did not represent Dominion investors' best interests but the legal action and money needs to remain focused on the group of people who committed these wrongdoings of fraud and misrepresentation/lies.
      Surely by this point in time there are no investors still hoping for the best and that their assets and money will magically appear and that this group of people will make right what they have done over the past 8+ years?
      Keep having the same experiences and expect different results and keep fighting each other instead of the common enemies or allow self interested lawyers to continue to give us crappy advice?
      Our money and the assets we supposedly owned are gone gone gone....
      If not then why have we been placed in this situation with so many losses?
      Stuff "the economy" up your derriere Chandran!
      We need to fight as a group and demand restitution and damages and that includes Dominion investors!

      Delete
    5. You forgot to stuff "the econonmy" up Mamdani's too as they both are in league together to steal from their investors.

      Delete
    6. Platinum is strategic. Platinum is Strategic.

      We have lots of proof.

      Delete
    7. To blog of Thursday July 5, 2012 1.08.00 am.

      You are afraid of facts and the truth.

      Delete
  104. is this for real??
    The building sold 6 months ago and the majority of us have not been paid!
    Deanna Oxtoby and these lawyers @ BDP said they were acting in the best interests of ALL Dominion investors via a legal claim.
    Then the claim got dropped for some reason never disclosed to investors who were solicited by this group and who paid into their legal fund.
    Our building sold 6 months ago and this group kept maintaining that the sale took place under their "supervision" and that funds from the sale were in the "lawyer's trust account".
    Everyone should just relax and stop being "hysterical" and "paranoid"; the "cheques were coming out in batches from the lawyer".
    Now 6 months after the transfer of title of OUR building and after running up extensive legal bills and pretty much ignoring investor enquiries and concerns, this group is coming back to investors to fund them again and pay a $25,000 "retainer fee" to start to find out where our money went?
    This is of course without any real disclosure of what the actual costs will be to investors or the partnership at the end of the day to pursue this process.
    What is your proof of the "good indications that the money is safe"?
    Have you even checked the title recently to see who the purchaser really was and how many mortgages have been registered on the property since?
    Are you even aware that the "lawyer" has no funds in their trust account from this "sale" despite repeated assurances from Platinum and yourselves that our money was there?
    This letter is as ridiculous as telling people not to join a class action suit that already represents everyone's interests equally.
    Surely someone else will do a better job than this group representing Dominion investor interests given what you have accomplished to date with all of your representations and "assurances".
    This "group" really has no credibility given their lack of control with respect to the transfer of title of our only asset 6 months ago and their total failure at securing payouts to Dominion investors.
    It appears they are supportive of continuing Mr. Chandran's practice of driving wedges between investors.
    It also appears they want to communciate with investors only when they are looking for more money from us.

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  105. I find it hard to believe that either firm has our best interests at heart.

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  106. If this wasn't so serious' it would be farcical and the only person laughing of course being Chandran who has played us all for suckers. He has resisted disclosure of investors details in the various LP's such that nobody seems to have complete lists, making unified action difficult resulting in the present fractured approach.

    It doesn't take a rocket scientist to figure whose numbered company "bought" the building and as suggested above, especially with clean title, in all likelyhood it is now mortgaged to the hilt facilitating another quick withdrawal of capital.

    What with one lawyer's suggestion that co mingling of funds has occurred this mess could take many months if not years to resolve with the certainty of substantial legal fees but no assurance of any money to pay investors at the end.

    Instead of a unified approach, we seem to be sliding into

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  107. Yes, Mamdani wants to own the world through his Global Equity Fund through use of fraud and corruption. He boasts of being a billionaire in assets on this Strategic Group website.

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  108. It is curious that Vogeli or any other lawyer involved from BDP was not willing to put their name on the letter posted above. 6 months from now he can easily claim that he wasn't the one who made those assurances.

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    Replies
    1. The letter came from Kelly Hannan at BDP Law.
      His signature unfortunately would not copy for the posting.
      Top of irst page of letter-
      Reply to: J. Kelly Hannan
      Direct Phone: (403) 260-0126
      Direct Fax: (403) 260-0332
      khannan@bdplaw.com
      Assistant: Robyn Lenz
      Direct Phone: (403) 806-7848

      Delete
  109. Something to think about:

    "The second damage award of $1.6 million has no basis in law: it purports to compensate for matters which the law does not recognize as compensable. And it lacks a factual basis. Furthermore, it appears to contain an element of double counting for the lack of
    reasonable notice; that has already been compensated for by the award of $600,000. The extra $1.6 million award cannot stand, and so must be quashed."

    http://employmentlawtrends.files.wordpress.com/2010/09/merrill-lynch-canada-inc-v-soost-2010-abca-251.pdf

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  110. What on earth are you talking about ?

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  111. Is there enough money either in Platinum or in the properties to fund the legal costs, receiver costs and return anywhere close to initial investment.

    I am guessing that there is not and that the lawyers (for both firms) see enough to pay the legal and receiver costs (for a little while anyway) and really aren't in a position to assure us of anything that will actually help us.

    I could be wrong, but I don't see it being possible.

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    Replies
    1. The only thing we want it our money.
      We have been provided no reason for not getting it from Platinum or Oxtobey or BDP Law.
      Who has ever been acting in our best interest?
      Appointing a Receiver is a watse of time and more money.
      We need to pay someone thousands and thousands of dollars again?
      Six figure amounts again?
      The money to pay the lawyers and Receivers won't come from anyone but us as always and who "wins" here?
      Certainly not the investors!
      Our asset is gone and we won't get it back.
      If Platinum had had any intention of paying us the money owing from the sale of our only asset they simply would have done so a long time ago.
      Their continued silence on the heels of their lies is the answer we get and the return on our investment.
      The only way to recoevr any money is to sue.

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    2. Lets face reality here. A Receiver is a total waste of time and money unless there are many millions involved which in this case, probably not.
      The lawyers will quite happily sue and counter sue as long as the fees (provided by us the investors) keep rolling in with no assurance of any payout.
      So the reality is,any monies will be gobbled up by a receiver and the Lawyers with nothing to show for us.
      While this may be difficult to swallow, the only satisfaction for investors is that if enough of us pester the police and Securities Commission, then maybe these crooks will be barred from future trading and hopefully end up in prison. It has happened with others in similar circumstances.

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    3. A valid suggestion to be coupled with the class action lawsuit (above)to hold all of these people PERSONALLY accountable for their deeds and misdeeds!
      Assets and our money gone so now it is time to go after theirs to recover our money.
      No Receivers needed to tell us what we already know!

      Delete

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