| edgeworth properties |
| Edgeworth Properties Investment Fraud Burlington, Ontario |
| 5th of Jul, 2011 by User648875 |
| In 2007, Edgeworth Properties took millions in investments from people in Malaysia, Singapore and the Phillipines. These investments were in so called undivided interests in land in Canada or called Land Banking. We were promised returns of 60, 80 or 100 per cent, depending on if the Area Structure Plans on these lands were approved during 2, 3 or 4 years. We were also promised to be furnished with land titles and a residual value insurance. We never received the land titles and was told later by their Country Manager of Malaysia, that the insurance was worthless. Along the years Edgeworth wrote many letters explaining their predicament in not being able to issue the land titles, such as they had to "split the land into parcels of 80 acres and less", and in february 2009, again explained that " subject to Foreign Ownership of Land Regulations, to issue land titles , they have to submit a plan for residential development for approval first", and then another letter by C Vaughn Minor (President) in 2010 promising 80 per cent returns payout on our investments in June 2011, therefore they would not be issuing the land titles as "title separation work and relevant processess, involving th Alberta Land Tiltles Office, is both time-consuming and ultimately redundant". We have never received land tiltes, we are issued with a worthless insurance, and now Edgeworth, through Donald Hurst, has written to us saying they cannot pay us the money due to hostile takeovers , some regulatory problems in Canada and slow sales, and threatening if the investors dont agree to new terms, Edgeworth will go bankrupt and the investors will lose. |
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Read the latest from the company:
http://edgeworth.com/wp-content/uploads/2011/08/Announcement-Letter-.pdf
and then do a search on the Gemlon brothers and NIR Group
http://investorshub.advfn.com/boards/read_msg.aspx?message_id=65890919#
http://investorshub.advfn.com/boards/read_msg.aspx?message_id=54833510
It looks like it is going from very bad to dire |
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SM issues compound notices to three companies
Sunday, 19 June 2011 - 9:00am
SSM Issues Compound Notices To Three Companies
KUALA LUMPUR, June 19 (Bernama) -- The Companies Commission of Malaysia (SSM - Suruhanjaya Syarikat Malaysia) has issued compound notices to Profitable Plots Sdn Bhd, Edgeworth Properties (M) Sdn Bhd and UK Land International (M) Sdn Bhd for contravening section 91(1) of the Companies Act 1965.
According to SSM section 91(1) of the act, a person shall not issue or offer to the public for subscription or purchase any interest unless at the time of the issue of the interest there is in force an approved deed. SSM said it would continue to monitor all companies offering interest schemes to the public and the action taken against the three companies demonstrates its continued efforts to protect the public by ensuring strict compliance with the requirements of the Companies Act 1965.
Apparently, Edgeworth Malaysia got compounded before the lee guy came around to announce the "edgeworth no money" bad news to everybody!
PADAN MUKA ! |
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SM issues compound notices to three companies
Sunday, 19 June 2011 - 9:00am
SSM Issues Compound Notices To Three Companies
KUALA LUMPUR, June 19 (Bernama) -- The Companies Commission of Malaysia (SSM - Suruhanjaya Syarikat Malaysia) has issued compound notices to Profitable Plots Sdn Bhd, Edgeworth Properties (M) Sdn Bhd and UK Land International (M) Sdn Bhd for contravening section 91(1) of the Companies Act 1965.
According to SSM section 91(1) of the act, a person shall not issue or offer to the public for subscription or purchase any interest unless at the time of the issue of the interest there is in force an approved deed. SSM said it would continue to monitor all companies offering interest schemes to the public and the action taken against the three companies demonstrates its continued efforts to protect the public by ensuring strict compliance with the requirements of the Companies Act 1965. |
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That crook Don Hurst is now filling for bankruptcy Chapter 11 August 12
Chapter 11 is one of the chapters of the US Bankruptcy Code that provides protection to debtors. Chapter 11 bankruptcy is almost exclusively used by businesses due to the expense and complexity of the process. Chapter 11 bankruptcy is appropriate when a business needs to restructure the debts it has and reorganize its finances so it can stay open. As an alternative to Chapter 7, which would require a business to liquidate, Chapter 11 allows a business to keep many of its assets.
How Chapter 11 Business Bankruptcy Works
Chapter 11 bankruptcy involves the financial reorganization of a business, which may be a complex and extensive process. As soon as a company files for Chapter 11, all collection activities must cease. This stay will remain in effect throughout the bankruptcy process.
The process of Chapter 11 begins with the creation of a plan. The debtor or debtors involved may propose the repayment and reorganization plan or, after a period of time (usually around 120 days), the creditors may propose a plan as well. The plan may allow the debtor to cancel contracts. The value of shares owned if the stock is publicly traded may also be cancelled, leaving the shareholders with nothing. Any plan that is created must be approved by the creditors, and if there are multiple plans sometimes the creditors are given the opportunity to vote on the plan that is put into place.
A trustee will be involved throughout the reorganization process as well. The trustee will help to ensure that priority claims are paid, that assets are managed properly, and that the reorganization proceeds as it should. If the owners are not managing the assets properly, the trustee may take more control or someone else may be put in charge of the assets.
How Long Does the Chapter 11 Bankruptcy Process Usually Take?
A company may stay in Chapter 11 business bankruptcy for a very long period of time, sometimes years. During this time, the business is able to continue running and the aim is for the business to become profitable. Because of the number of requirements and the complexity of a Chapter 11 bankruptcy filing, it is imperative that anyone consider filing for Chapter 11 bankruptcy have qualified legal counsel. |
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The crook Don Hurst has filed for Bankruptcy Chapter 11 on August 12
Chapter 11 is one of the chapters of the US Bankruptcy Code that provides protection to debtors. Chapter 11 bankruptcy is almost exclusively used by businesses due to the expense and complexity of the process. Chapter 11 bankruptcy is appropriate when a business needs to restructure the debts it has and reorganize its finances so it can stay open. As an alternative to Chapter 7, which would require a business to liquidate, Chapter 11 allows a business to keep many of its assets.
How Chapter 11 Business Bankruptcy Works
Chapter 11 bankruptcy involves the financial reorganization of a business, which may be a complex and extensive process. As soon as a company files for Chapter 11, all collection activities must cease. This stay will remain in effect throughout the bankruptcy process.
The process of Chapter 11 begins with the creation of a plan. The debtor or debtors involved may propose the repayment and reorganization plan or, after a period of time (usually around 120 days), the creditors may propose a plan as well. The plan may allow the debtor to cancel contracts. The value of shares owned if the stock is publicly traded may also be cancelled, leaving the shareholders with nothing. Any plan that is created must be approved by the creditors, and if there are multiple plans sometimes the creditors are given the opportunity to vote on the plan that is put into place.
A trustee will be involved throughout the reorganization process as well. The trustee will help to ensure that priority claims are paid, that assets are managed properly, and that the reorganization proceeds as it should. If the owners are not managing the assets properly, the trustee may take more control or someone else may be put in charge of the assets.
How Long Does the Chapter 11 Bankruptcy Process Usually Take?
A company may stay in Chapter 11 business bankruptcy for a very long period of time, sometimes years. During this time, the business is able to continue running and the aim is for the business to become profitable. Because of the number of requirements and the complexity of a Chapter 11 bankruptcy filing, it is imperative that anyone consider filing for Chapter 11 bankruptcy have qualified legal counsel. |
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The crook Don Hurst has applied for Bankruptcy chapter 11 on August 12th.
Chapter 11 is one of the chapters of the US Bankruptcy Code that provides protection to debtors. Chapter 11 bankruptcy is almost exclusively used by businesses due to the expense and complexity of the process. Chapter 11 bankruptcy is appropriate when a business needs to restructure the debts it has and reorganize its finances so it can stay open. As an alternative to Chapter 7, which would require a business to liquidate, Chapter 11 allows a business to keep many of its assets.
How Chapter 11 Business Bankruptcy Works
Chapter 11 bankruptcy involves the financial reorganization of a business, which may be a complex and extensive process. As soon as a company files for Chapter 11, all collection activities must cease. This stay will remain in effect throughout the bankruptcy process.
The process of Chapter 11 begins with the creation of a plan. The debtor or debtors involved may propose the repayment and reorganization plan or, after a period of time (usually around 120 days), the creditors may propose a plan as well. The plan may allow the debtor to cancel contracts. The value of shares owned if the stock is publicly traded may also be cancelled, leaving the shareholders with nothing. Any plan that is created must be approved by the creditors, and if there are multiple plans sometimes the creditors are given the opportunity to vote on the plan that is put into place.
A trustee will be involved throughout the reorganization process as well. The trustee will help to ensure that priority claims are paid, that assets are managed properly, and that the reorganization proceeds as it should. If the owners are not managing the assets properly, the trustee may take more control or someone else may be put in charge of the assets.
How Long Does the Chapter 11 Bankruptcy Process Usually Take?
A company may stay in Chapter 11 business bankruptcy for a very long period of time, sometimes years. During this time, the business is able to continue running and the aim is for the business to become profitable. Because of the number of requirements and the complexity of a Chapter 11 bankruptcy filing, it is imperative that anyone consider filing for Chapter 11 bankruptcy have qualified legal counsel. |
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The crook Don Hurst has filed for bankr[upptcy chapter 11 on August 12
Chapter 11 is one of the chapters of the US Bankruptcy Code that provides protection to debtors. Chapter 11 bankruptcy is almost exclusively used by businesses due to the expense and complexity of the process. Chapter 11 bankruptcy is appropriate when a business needs to restructure the debts it has and reorganize its finances so it can stay open. As an alternative to Chapter 7, which would require a business to liquidate, Chapter 11 allows a business to keep many of its assets.
How Chapter 11 Business Bankruptcy Works
Chapter 11 bankruptcy involves the financial reorganization of a business, which may be a complex and extensive process. As soon as a company files for Chapter 11, all collection activities must cease. This stay will remain in effect throughout the bankruptcy process.
The process of Chapter 11 begins with the creation of a plan. The debtor or debtors involved may propose the repayment and reorganization plan or, after a period of time (usually around 120 days), the creditors may propose a plan as well. The plan may allow the debtor to cancel contracts. The value of shares owned if the stock is publicly traded may also be cancelled, leaving the shareholders with nothing. Any plan that is created must be approved by the creditors, and if there are multiple plans sometimes the creditors are given the opportunity to vote on the plan that is put into place.
A trustee will be involved throughout the reorganization process as well. The trustee will help to ensure that priority claims are paid, that assets are managed properly, and that the reorganization proceeds as it should. If the owners are not managing the assets properly, the trustee may take more control or someone else may be put in charge of the assets.
How Long Does the Chapter 11 Bankruptcy Process Usually Take?
A company may stay in Chapter 11 business bankruptcy for a very long period of time, sometimes years. During this time, the business is able to continue running and the aim is for the business to become profitable. Because of the number of requirements and the complexity of a Chapter 11 bankruptcy filing, it is imperative that anyone consider filing for Chapter 11 bankruptcy have qualifiedlegal counsel. |
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Hi fellow Investors. I am an Investor and a consultant too. I guess this is quite normal.
Edgeworth is a crooked company headed by crooks and liars. They told us the investment is fixed term with fixed profit and kept us selling till right up to the last moment when they can't keep their rotten secrets anymore. They even had the gall to come out with the 3 exit projects with the time table of when the Investors will get their money when they knew but yet kept it a secret that the Company is in deep shit.
Don Hurst is a conniving 'f...ing bas...d'. He is a conman and criminal. I will gladly join in anyone who can bring this man to face justice.
Cheated and betrayed |
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| They mentioned worthless "insurance". What insurance are they talking about? Title insurance? |
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| They were mentioning the worthless "insurance". What insurance are they talking about? |
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| David McClure assembled the Edgeworth team got his millions and left to then start another seemingly legitimate company where people are promised great returns called BEDFOR BIOFUEL If the Bedford investors knew the damage Bedford CEO Dave McClure left as a legacy in the last company he launched namely EDGEWORTH PROPERTIES they might think twice about the validity of Bedford biofuels. His story is that he made money in 2006-2007 in an energy stock in Alberta but this energy stock was egwv aka Edgeworth Venture. His money was made by leaving egwv in sept 2008 selling his shares at $3/share. While the rest of us could not sell our shares not that there was a market for those shares. But egwv should have given the option to others along with mr McClure |
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| the hostile take over that Edgeworth is blaming for their financial problems came as a result of fraud being discovered, in Nov 2009 it was discovered that Southpoint Landing in Camrose AB had 12 millions in liens. This was the RED FLAG that got the Shareholders on EGWV wanted answers and since they could NOt get answers they decided to remove INCOMPETENT CEO mr HURST as well as Vaughan Minor. Then they use that as a scape goat, very creative on their part, but weak onec you know what caused the FAILED HOSTILE TAKE OVER. |
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| Hi, i am also an investor from the Philippines. Pls update me of the latest news in edgeworth. What are the chances that we will get our money back? When? There is no news from our end. So please please update. Thanks. |
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| Pls update what the latest news on edgeworth. Are we going to get back our money? |
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