It was reported in the Business Times that CAD were investigating the company Edgeworth Properties, a land banking company that sold land in Canada.
About 4000 investors from Singapore, Malaysia, Philippines and Thailand had invested more than C$70 million with the company.
It is unknown when CAD started investigations but the Ontario Superior Court of Justice in Toronto had issued an order placing 16 of the company’s properties into receivership back in November 2011.
This Grant Thornton website shows all the correspondences and official letters related to Edgeworth Properties.
A steering committee comprising ten investors of Edgeworth Properties have been formed to liaise between individual investors and the Representative Counsel. Out of the ten members, four are from Singapore, two are from Malaysia, three are from Philippines and one is from Canada.
If you are an Edgeworth investor, you might want to contact one of the steering committee members to stay updated about the proceedings. Their contact details can be found in Annex A of this letter to Edgeworth investors.
Categorization of Edgeworth Properties in Receivership
1. Category I – Receivership Properties to be Liquidated
a. Edgeworth Properties – Derrick View Estates Inc.
b. Edgeworth Properties — Ellerslie Ridge Inc.
c. Edgeworth Estates at Manning Drive Phase I Inc.
d. Derrick View Estates Phase II Inc.
e. 1330433 Alberta Ltd.
f. Edgeworth Properties — Jasper Ridge Estates Inc.
g. Edgeworth Properties — Estates at Thompson Lake Inc.
h. Edgeworth Properties — Estates at Thompson Lake (Phase 2) Inc.
2. Category II — Receivership Properties to be Studied
a. Edgeworth Properties — Creekside Estates Inc.
b. Edgeworth Properties — Wolf Creek Estates Inc.
c. 1519560 Alberta ltd. — Blackfolds
d. 1253122 Alberta Ltd.
3. Category III — Construction
a. Edgeworth Place at Heartland Inc.
b. Edgeworth Properties — Heartland Ridge Inc.
c. Edgeworth Properties — Southpoint Landing Inc.
d. Edgeworth Place at Spruce Ridge Drive Inc.