On November 18, 2021, Mr. Chandran was sentenced to 30 months in a minimum security institution in Kingston, Ontario. Mr. Chandran will be surrending himself on Monday, November 22, 2021. This was a joint submission on sentencing made by the Crown prosecutors and defence counsel. Mr. Chandran made no repesentations at his sentencing. We have no invovlement in that process. We have a judgment against Mr. Chandran in the amount of $5,000,000.00 toward your losses. We have not yet undertaken any steps related toward enforcement of the judgment. The deficiency will be addressed in the other action that is ongoing. Mr. Chandran continues to dispute his liabilty in the larger class action.

We appreciate your patience waiting for an update. If you are a member of this Class, we have already emailed you a more detailed update. If you did not receive an email, please contact jackie@invictusllp.ca make sure she has your most recent contact information.

In June of 2021, your representative plaintiff attended a mediation with the Legal Defendants named in the action. We negotiated an agreement that allows for a distribution that will be made to the representatives that form part of this class. We obtained court approval to this process on September 29 and we hope to make a distribution to them prior to year end. We also have a Judgment against Mr. Chandran for $5,000,000.00. Mr. Chandran is currrently awaiting sentencing for a guilty plea entered in Court of Queen’s Bench of Alberta. We have nothing to do with that process. The intention for this group going forward is that once Mr. Chandran has completed his sentencing conditions, whatever they may be, we will look at potential avenues of enforcement of the Judgment we have against him.

A cheque will be sent to you by ordinary mail, in due course, once we have the ability to release funds from trust.

Many of you may have been informed that Mr. Sri Chandran plead guilty to criminal charges in Alberta Court of Queen’s Bench of Alberta in relation to the allegation that monies or equity were diverted from limited partnership investors in Qualia V. Last Friday, Mr. Chandran plead guilty to a count of theft over $5,000.00 in relation to several investors with whom the RCMP was in contact in regard to developing their charges. The sentencing component is put over into at least September of 2021. We are in contact with the Crown Prosecutor and we will be working to ensure that the Court understands the context here and the fact that more than 200 people lost their promised investment and that the effective loss is many millions of dollars. We will keep you posted as this progresses.

We are currently working toward obtaining an expert report on the respective liability of counsel that acted on behalf of the General Partner and Limited Partners (your group). Once the courts reopen, as we primarily focus on the pandemic that is currently and properly the focus, we will advance this claim thereafter. We have a lot of evidence here to assist us with this claim and your patience is appreciated.

We have another pending application related to this investment that will be brought after the courts reopen. It will provide us with additional evidence to bolster the claim.

We appreciate your trust and patience.

This lawsuit is related solely to investors in Qualia V – the Dominion building. It is being advanced against the two lawyers that acted for Multus, the general partner, and the limited partners (plaintiff class). The liability relates to the failure of the vendor’s lawyer to secure the cash to close that would have repaid the limited partners, or alternatively, to register and enforce a vendor take back mortgage that was purportedly agreed to in order to vary trust conditions related to using the transfer of land to convey title to the purchaser.

We are going to be amending our pleadings and bringing application related to this action, in the fall. We have conducted extensive work in this litigation, to the point of obtaining trust records from one of the lawyers involved to determine where the equity that was supposed to be used to pay out the limited partners, was diverted. We will keep you posted here as we proceed.