Justice D.J. McCawley

Justice D.J. McCawley has reserved her decision on a motion made by Deloitte and Touche, the court-appointed receiver for the Crocus Investment Fund, to explore the distribution of $14.2 million of Fund assets to shareholders.The motion was made on Wednesday March 29 before a court room crowded with lawyers representing various parties, who were mainly opposed to the motion.

Justice McCawley said she was not prepared, at this time, to deal with the issue of shareholders wanting a meeting to hear details of an offer to purchase the Crocus Fund made by the Vancouver based investment fund manager GrowthWorks.A lawyer representing the Manitoba Federation of Labour tried to raise the issue, and the more than 2100 signed meeting request forms collected by the MFL over the past 10 days.

Another group also collected meeting request forms from shareholders over the same period which may bring the total to 3500 forms, or more than 10 per cent of Crocus shareholders.This easily surpasses the minimum 5 per cent of shareholders needed to call a meeting.

The MFL will continue to campaign for a Crocus shareholders meeting, whether it's called by the receiver or ordered by Justice McCawley.

Justice D.J. McCawley has reserved her decision on a motion made by Deloitte and Touche, the court-appointed receiver for the Crocus Investment Fund, to explore the distribution of $14.2 million of Fund assets to shareholders.The motion was made on Wednesday March 29 before a court room crowded with lawyers representing various parties, who were mainly opposed to the motion.

Justice McCawley said she was not prepared, at this time, to deal with the issue of shareholders wanting a meeting to hear details of an offer to purchase the Crocus Fund made by the Vancouver based investment fund manager GrowthWorks.A lawyer representing the Manitoba Federation of Labour tried to raise the issue, and the more than 2100 signed meeting request forms collected by the MFL over the past 10 days.

Another group also collected meeting request forms from shareholders over the same period which may bring the total to 3500 forms, or more than 10% of Crocus shareholders.This easily surpasses the minimum 5% of shareholders needed to call a meeting.

The Manitoba Federation of Labour will continue to campaign for a Crocus Shareholders Meeting, whether it's called by the receiver or ordered by Justice McCawley.