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Got an email this morning with the following attachment...
Cease Trade Order - Bridgegate Mortgage Corporation
Appears Bridgegate has been issued a Cease Trade Order by the British Columbia Securities Commission (BCSC). Nothing yet, that I know of, with respect to the Alberta Securities Commission (ASC) issuing one of their own.
My anonymous (as per request) contributor to this blog went on to say... All I can tell you (for your blog) is that the Bridgegate Investors are organized, have legal counsel and will shortly decide course of action.
So there you have it, looks like the shit is finally hitting the fan for the gang infamously known as BridgeCROOKS.
If the consequences of greed are harm and pain, it is immoral. If greed is flaunted, when the pain is known, it is also sociopathic.
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Friday, October 23, 2009
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17 comments:
John,
For those of us who weren't around when this stuff all started here in the Pass, could you give us an idea of who's involved and who owns what...I'm assuming River Run and the Crowsnest Lake (non)development are related...how? who?
thnx
Anon @11:49
I will leave it to others to talk about the details, but as a realtor and a resident of the Crowsnest, I can tell you these guys rolled into town in their hummers one day a few years back, with their big plans and billion dollar plus pie in the sky dreams, and 'hoodwinked' our mayor and council(s).
The end result being a depressed real estate market and inflated property values that have still not yet hit bottom, barren development sites doing nothing more than growing weeds, and a community devastated both economically and socially by this turn of events. In addition, we have a mayor and council that are less than forthright in keeping us up-to-date by telling us what is happening, and what the true costs (past, present and future) are of this fiasco that has decimated our community.
We have short term and long term ramifications here now that are staggering, if not possibly insurmountable.
For those who have always wanted to keep this place ‘as is’ they sure couldn’t have come up with a better turn of events than what is presently playing out. Stagnation, decline and decay seems to be our lot in life here in the Pass, and sadly, I don’t see that changing any time soon... if ever.
Unless, the rumours I hear about Jim Prentice (our local boy makes good Federal Environment (Parks) Cabinet Minister) are true... that the Crowsnest will either be in or the gateway to a new park, which then, theoretically, will turn us into the next Canmore.
Now there is a plan! And quite possibly the only life-saver left to us, and with all the conservatives we have around here you would think this should be a done deal.
We’ll see if they can ‘finally’ deliver something ‘tangible’ and longer lasting to our community, than photo ops with Big Cheques.
Note: For those interested in reading more on this subject click on Bridgegate, Bridgecreek or River Run in the Labels section at the bottom of this post. It will give you what I and others have contributed so far, in trying to help by way of providing information to all those in need of it, whether they be investors or residents.
I have heard that the investors have contacted your mayor several times for some assistance, but have yet to hear back from him. The whole thing seems to be a big secret?
Just like Prince's comment to Dean and council about the 'missing millions'. What the hell is going on in this community? Me thinks, its time for a 'shake up'!!!!!!!! Give us some answers or get the hell out!!!
i think you'd be very surprised..or maybe not.
I did a quick search for that rumour you mentioned and nothing showed up. What's that all about, John?
"will turn us into the next Canmore. "
having been to Canmore a few times this summer, there is NO chance the Pass will ever become the next Canmore. That is not something anyone should ever worry about.
Anon @11:15
Castle protection plan under way
Anon @11:41
Don't know what you mean exactly but totally agree with you that most people do not want that, but nor do we want, as I have already stated above, a steady diet of stagnation, decline and decay. We need leadership that can provide a happy medium of protecting the past, while embracing the future. The leadership we have had to-date wants either one or the other at the expense of the other, if you know what I mean. That needs to change!
I doubt it will ever become the next Canmore, but as the economy shifts for the better, Calgarians and other urban dwellers in the south of the province are looking for a playground. Canmore is out of reach for most of us, as is Sylvan Lake. I don't like Canmore now and prefer the town atmosphere in the Pass. I know a few people who have bought fixer-uppers there as weekend properties (ditto places like Sundre). If you can hang on to your hospital, the Pass would also be a decent retirement centre (in the summer) for active seniors looking to get away from the city, but who still require all of the amenities. It is unfortunate that Becker and Bradley turned out to be non-deliverers, but I still think there is a future for the Pass. Too bad some of those on Council don't seem to get that. A couple of them pinned too high hopes on the Bridgecrook crew.
dianne
John, while you place the blame on the Council, Bridgegate, etc. for the demise of the Crowsnest real estate, as pointed out above there was more than enough demand from the Calgary oil money and retirees to move the housing/land prices without the Big Plans. Just as important is the somewhat masked attempts to make the Crowsnest area a Park, with no consideration by those groups as to how the locals will make a living. Doesn't fit into their equation.
The Castle Special Places article states that "they" want to "attract new residents and keep them by offering proximity to protected areas". These new residents are the likely weekender city dwellers, retirees, enviotechs, etc who want the place to stay as it is -- no logging, no mining, no off-road vehicles, no whatever doesn't suit their desires. I doubt if it includes common working folks with families who need to make a living.
The Sierra Club, the Yellowstone to Yukon Continental Divide Park Group, and other well-funded Foundations could care less if and how the Pass residents make a living. They want their Park Playground and will exclude any recreation and other users that do not fit their ideas of how an area should be used.
Punch in "Flathead BC mining" into Yahoo to see what is happening on the BC side. This is a well coordinated effort with US Govt involvement. Not only is the World Heritage Mission and now the United Nations involved, but the US Senators from Montana are very active in dictating how BC should use their land base, while they step through the mess that they have created in managing their lands in Montana and the US in general.
The most important use of the Crowsnest area on the Alberta side at least is as a watershed; other land uses, including logging, mining, recreation, grazing, etc should be worked around this. For sure, the West Castle development is a big mistake -- the river flat is the filter for the Castle watershed, and too important to become a polluted slough. However, making it all a "Park" is too convenient for the enviros. Remember, the only difference between a Developer and an Enviromentalist is that the Environmentalist already has his house in the woods. Look around to see who is supporting the various causes.
Jose
So there'll be no more snowmobiling, no hunting, no quadding/dirtbikes....well, at least it will be quiet.
Jose,
I'm sure the weather is better in Arizona than it is here today. Lots of snow!... and more to come.
Anyhow, I think you have again made some excellent comments leaving me with nothing to take exception with, except... and don't get me wrong, as I am neither advocating for or against anything here... just playing the devil’s advocate.
My concern is with the ongoing status of no jobs, no plan and no hope that seems to permeate through the Pass like our wind. As I have already stated, and as I know you are aware, stagnation, decline and decay are our lot here and that needs to change. Why it has not and is not, considering all the conservatives we have here at all levels of government, baffles and distresses me to no end. This is part of the reason why I have no use for conservatives, as I see them being nothing more than pigs at the trough looking out for themselves and their friends, and the hell with everybody else. They are incapable of leading a community, a province or a nation with vision and a plan, being the self-serving retrogrades that they are. There, now I am feeling much better. :-)
Seriously, I and others are tired of the status quo here of a community of smug and contented land owners, professionals and retirees who seem oblivious to the pain and suffering of those who are not as fortunate as they. A community with no industry and jobs consisting of 1/3 weekenders that is growing in numbers every year is unsustainable. Your concern that turning the Pass into a Park will result in no jobs because mining, forestry and no off-road vehicles will be tolerated, does not take into consideration that presently there is no mining, little forestry and devastation to the landscape because of off-road vehicles is a huge bill that is only getting bigger as each year goes by, because of the lack of rules, regulations and enforcement. In fact, David McIntyre, not to long ago, put the bill at $200 million. The days of the Wild West for the well-heeled that produces nothing but stagnation, decline and decay is not an option. A Park with its Tourism potential may be.
In closing, let me say that whether it is the Watershed, Park designation, future route of Hwy 3, etc. these decisions that have a tremendous impact on all our lives are all out of our hands. The sad truth is that the future of the Crowsnest will not be decided by its residents, but by those who have been asleep at the switch for some time i.e. Conservatives. And that is why nothing is happening here and why nothing will for some time yet to come, until we all give them a shove to wake them up, or kick them out of the soft comfy chair that they are in.
I just learned today that Bighorn Muntain Resort Corporation/Bridgegate Financial Corporation have been in Receivership under Deloitte.Touche since July 2009. Happily your beautiful Pass will no longer have to deal with the Boys of Destruction. Sadly, the carnage left in their wake is littered with lies, empty bank accounts and broken dreams. The sweetest sound to my ears will be the sound of the prison door closing. Take care.
Here it is-
http://www.deloitte.com/view/en_CA/ca/specialsections/insolvencyandrestructuringproceedings/bighorn/index.htm
Zoe, thanks for the heads-up!
Further to your post, I have just received an email from a lawyer's office in the Netherlands telling me they have investor clients (bond holders) in the River Run (Bridgecreek) development who have not received their interest payments since March of this year. Apparently, Bridgecreek raised almost $10 million there, and are now in default. In addition, communication from Bridgecreek has ceased.
I am awaiting word from the law office as to if I can share the contents and contact information in the letter with my readers. Upon confirmation, I will do a separate post with all the details and particulars.
In the meantime, I can tell you they are looking at bringing a case before a Canadian court and in this regard, they are very much interested in the course of action Canadian Bridgecreek investors are deciding on.
If anyone has information they can share with respect to this matter they would certainly like to hear from you.
Thank you John for making your blog accessible ;) I knew that BC was raising funds in Europe but had no idea it was so much. I just feel sick at heart that so many people were taken by the megalomaniacs. I feverently hope that a criminal case can be made and then followed through. Take care.
It is unfortunate that Becker and Bradley turned out to be non-deliverers, but I still think there is a future for the Pass. Too bad some of those on Council don't seem to get that. A couple of them pinned too high hopes on the Bridgecrook crew.
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