Forest Lakes, Nova Scotia, Canada

[JJ Byrne]

On 2/2/2020 at 10:59 AM, Davidwhite said:

I purchased one acre of land back in 2008. Exchange rate was over C$2 to  the pound, so seemed like a good idea at the time.

I'm also from the the UK down in the sunny south. Good to share the pain with everyone.

David

 

[JJ Byrne]

Hi,

I purchased 2 sites in Forest Lakes, 1st site Aug. 2008, 2nd site Dec. 2011. No communication since Dec.2018 despite constant efforts on my behalf. My recent e-mail on April 8th was replied to by an automated message outlining an update in the coming weeks. I also had a contact in Spain (Martin Kilbride), he would regularly phone and e-mail with updates, currently his phone and e-mail are not in operation.

Very difficult situation to be in due to lack of communication, great to come across this forum and see I am not on my own. Hopefully we can all come out the other side at least getting our investment back. Keep in touch with each other on any developments.

I am from Ireland, so there seems to be a wide range of investors.

Best Regards,

J.J. Byrne

[Ahlam Mohammed]

Hello,

Hope all is keeping well.

I just got accepted into the facebook group. It has 66 members.

 

For those who are not members there yet, I was not able to attach the latest post there, so I copied it, as a form of update.

 

 

On 11 June 2020,

James Steveson said

Hi, I just was accepted to this group. I invested in a plot purchase agreement with TFDC, through Landcorp in Spain. Was promised an exit date, but when that came up, was given an extension. I learned yesterday, that Resort Investment Int GmBH hired PriceWaterhouseCoopers as a private receiver in respect to certain lands they hold as a secured creditor at the development. It is my understanding they are behind the golf course development. I contacted PWC to ask if they were representing investors in TFDC, but they are not.

Apparently the NS securities commission is investigating into TFDC, but what I'd like to know is if a receiver is going to be appointed, so that affected investors can get some of their investment back.

From what I understand, most of what is of value has already been taken by other creditors.

 

Anthony Goldby commented

 

it seems that none of the financial services are very interested in trying to sort this...alot of us on here we in this from the start and are surely as investors also creditors and as such entitled to some kind of payback

 

 

[Ahlam Mohammed]

Hello,

 

Hope all is keeping well.

 

Just to update you of the new communication received..

 

"Dear LLC Member,

Please be informed that AV Corporate Services (“AVCS”), as Manager of your LLC, has been advised that PricewaterhouseCoopers Inc. has been appointed as a receiver (the “Receiver”) in respect of certain property and assets of Terra Firma Development Corporation Ltd (“TFDC”), by a company called Resort Investment International GMBH (“RII”).

It is important to note that this is a Receivership and not a liquidation of TFDC, which means that it is only the specific assets mortgaged to RII that are affected. It does not involve any of the land assets owned by your LLC and we must stress that your LLC remains in good standing in respect of all monies owed and its assets and your percentage interest therein are unaffected by the action brought by RII.

We would add that we have received no communications from TFDC regarding the Receivership, nor their intentions for the future, although the liquidation of TFDC, in either the short or the long term, cannot be ruled out. However, please be advised that, as a precautionary measure, AVCS has been in contact with the Receiver and has asked that your LLC be registered as a creditor.

The above said and following feedback from numerous Members criticising the LLC Members who are in default on their Annual Fees, the Manager has consulted a Delaware Law Firm to determine what action can be taken to protect paying LLC Members in preference to those Members in default.

Under Section 6.2(iv), the Manager’s right to receive its fees is made clear and the Manager has always been empowered to deduct its dues from any funds it may hold to the account of delinquent Members. These rights will not be affected, but the Delaware law firm has concluded that an amendment to the LLC Agreement proposing the suspension of the right to vote and to receive communications, for non-paying Members, would be in order. This would, of course, be subject to the approval of more than 50 per cent of the LLC’s Members. Therefore, in fairness to all those Members who are up to date with their Annual Fees, the attached resolution has been drafted. 

For the sake of clarity, we would reiterate that the annual fees are needed for the following purposes: 

i)     Payment of taxes, fees and other disbursements on behalf of the LLC’s in order to maintain your LLC in good standing with the Delaware authorities.

ii)    Payment of Canadian annual taxes on the land owned by your LLC.*

iii)     Handling LLC Member enquiries, relevant to the Manager’s duties.

iv)     Researching and preparation of newsletters and other communications with Members.

v)       Facilitating, organizing, monitoring and overseeing votes of Members of your LLC for any matters 

vi)     Invoicing and collection of the Annual Fees.

vii)   Filing of all necessary annual returns in Canada and Delaware.

viii)  When necessary, the retention of the services of a Canadian law firm to protect the interests of your LLC**.

*These services are not the responsibility of the Manager, but have been paid from its fees as TFDC has not been making said payments in recent years.

**These services are not the responsibility of the Manager, but have been paid from its fees in recent years. In the event of the need for significant further consultation, these costs will have to be passed on to Members.

Yours faithfully

For and on behalf of AV Corporate Services Ltd

 

RESOLUTION TO BE VOTED UPON BY LLC MEMBERS

The proposed Resolution follows and we respectfully request that you study this and then vote accordingly as follows:

Please click on the link or copy and paste it into your browser and follow the instructions. 

Click on:  http://www.forestlakevoting.com/LLC.aspx?id=612

 

IMPORTANT: Please have to hand the URN number at the head of the attached letter, as this will be requested when you click through to the Voting Section. Once you have entered your URN a window will appear with an Instruction Document for you to fill in. 

Please note that if there is more than one purcharser under the same URN number, both members need to vote. Please also note that should you have various URN’s your vote will apply to all of them.

Please respond within 14 calendar days from the date of this letter. If you have any questions regarding this matter, please contact us in writing at the following e-mail address and we will respond promptly: votingenquiries@avcorporateservices.com.

Please note that we have communicated with all Members by email where at all possible. However, those Members for whom we do not have a valid email address will be sent this communication by post, in which case, please respond as early as possible and in any case within 14 calendar days of receipt.

THE RESOLUTION:

That Section 6.2(iv) of the Limited Liability Company Agreement for the Delaware LLC owning land at the Forest Lakes Country Club development, of which I am a Member shall be amended to read as follows:

“Compensation of Manager. The Manager shall be entitled to compensation for services performed for the Company and reimbursement for expenses  as set forth in the Services Agreement executed by the Members and the Members shall make additional Capital Contributions annually for this purpose. From 2020 onwards, any Member not current in payment for said services and expenses, may be suspended at the Manager’s discretion, until such Member is in good standing. Whilst suspended, a suspended Member shall forfeit all rights set forth in this Agreement and in the respective Services Agreement, including, inter alia, the right to receive information from the Manager and the right to vote on any matter to be put before the Members and the total number of votes available to be cast in respect of any motion put before the Members, shall be reduced accordingly during the period of suspension.”

[Ahlam Mohammed]

Hello again,

 

The face book group is active on the subject.

 

If anyone needs to be accepted there, let me try if I can invite you.

 

[Ahlam Mohammed]

 

Now, there are 69 investors within the face book group.

 

Is there a local investor who can approach the local "land department" on the subject to check if we can have the situation officially investigated?

 

Another way is to escalate the subject to the local media. Stories from those who invested for retirement purpose will sure find interested ears who may want to publish....

 

We need to brainstorm ways to achieve effective results as a group.

 

One of the investors in the facebook group is suggesting to write to the following for further investigation,

I think a collective approach would be more effective:-

 

Gill Malouf

Lianne Bradshaw

Senior Investigator

Nova Scotia Securities Commission

5251 Duke Street, Suite 600 Duke Tower

PO Box 451

Halifax, Nova Scotia B3J 2P8

Ph: 902-424-3176 Fax: 902-424-3538

Lianne.Bradshaw@novascotia.ca

nssc.novascotia.ca

•  

[Ahlam Mohammed]

 

Our local journalist in Novascotia within the face book group is :

 

Geoff Bird

geoff@allnovascotia.com

 

We need to help him as much as possible, to expose our message of needing our long  overdue investment back.

[JBarrett]

On 2/2/2020 at 12:28 AM, RockyBl said:

Thank you for sharing that. It does appear to be genuine but you never know. It looks like a complicated state of affairs. How many investors have we got on this thread? I would interested to know what exactly you all invested in. Did you purchase land units (i purchased half an acre) or did you purchase an off plan property? Are you based in England like me or elsewhere? We should try to reach out to others if we can. There was a facebook page called duped forest lakes investors or something like that but it has been removed. There were a few people using that but now its lost. Anyway, lets keep sharing

Hello, such a relief to find that I'm not alone in this and that I can speak to other folk regarding this investment.

I purchased through an agent of TFDC called "Landcorpinternational" an acre of land units back in August 2008 to which I believe I am investor number 668.

I further invested in a 2/3 year loan to TFDC in 2013 with an agreed end date and generous interest returns that they failed to honour.  I foolishly allowed them to extend (and not honour) the loan 2 more times before kicking up a bit of a fuss with Landcorp (TDFC were not responding).  After various conversations with Landcorp I decided to convert the outstanding loan they owed to purchase an off plan property, which required me to (foolishly again?) add further funds to secure.  The off plan plot was placed on immediate sale as agreed between myself, TFDC and Landcorp.

So, I have both types of investment outstanding and the greater part of my retirement fund locked into them.  I have tried to contact both TFDC and the agent I invested via, but am receiving no response, a grave situation all round.

The more people join together on forums such as this the better and there probably will be a time when legal action will need to be taken if we are to receive anything back and obviously this would be better if achieved as a collective.

Incidentally, regarding the correspondence from AV Corporate Services (received 17th June) in respect to the 1% annual fee and defaulting members.  Whatever your opinions regarding payment/non payment, beware that clicking I consent on the initial document page to reach the following page will I believe automatically count as a vote in favour of carrying the amendment to the defaulting clause by consenting to it.  The clause if carried will allow them to cut communications to defaulting members and prevent any further voting rights. 

          

 

[noblelite]

6 hours ago, Ahlam Mohammed said:

Hello again,

 

The face book group is active on the subject.

 

If anyone needs to be accepted there, let me try if I can invite you.

 

Yes please Ahlam

[noblelite]

1 minute ago, noblelite said:

Yes please Ahlam - https://www.facebook.com/stuart.noble.58

[noblelite]

Has anyone digitally signed and agreed to the latest communications?

[AnthonyH]

I have digitally signed it. I've paid my fees up to date, much to my dismay, but it's what was asked and I'm always in the mindset that they always get their money back sooner or later, nothing is ever for free. I've just had an annual fee request in the post today, Year 13!! So it's cost me £1674 in fees alone.

I just want my initial £12880 back, even more so now redundancies are looming.

[noblelite]

9 hours ago, AnthonyH said:

I have digitally signed it. I've paid my fees up to date, much to my dismay, but it's what was asked and I'm always in the mindset that they always get their money back sooner or later, nothing is ever for free. I've just had an annual fee request in the post today, Year 13!! So it's cost me £1674 in fees alone.

I just want my initial £12880 back, even more so now redundancies are looming.

I too have made all payments. My investment is over £40K so I’m desperate to get it back. Fingers crossed. 

[Mike Jones]

I am also an investor  and hoping to get something out of this.
 

Is there anybody on this forum with a legal background which can help.

Plus is there a Facebook group that I can join on the subject.

Mike

[AnthonyH]

I hope so. This is my first and only investment and quite possibly my last. So I'm not really that clued up on the legal side of things, all I know is is our money is sat in an account somewhere and we want it back. 

Hopefully someone on here will be able to help!

[LizzyB]

Hi all

i have been doing some digging to find out more about AV corporate services the company registration number 3299314 I found on an email from them below their signature and the business number they quote on their website terms on their email

Information about us
www.avcorporateservices.com is a site operated by AV Corporate Services Ltd. AV Corporate Services Ltd is incorporated pursuant to the provisions of the Companies Act of the Province of Nova Scotia and is also registered pursuant to the provisions of the Corporations Registrations Act of the Province of Nova Scotia, Business number 76546 8293 and have our registered office at AV Corporate Services Ltd, Purdy’s Wharf, Tower I, 1100-1959 Upper Water Street, Halifax, NS  B3J 3N2.

 

draws a blank on website below 

https://www.ic.gc.ca/app/scr/cc/CorporationsCanada/fdrlCrpSrch.html

 

I started digging on HBS on companies house and they have had 24 company resignations since incorporation and when I looked at their last accounts filed the 3 directors are resident in Spain and Gilbratar.  The company I bought the land units from was Landcorp Intl in Spain! Then when you look at the “people” section on companies house and check what other companies they are of have been directors off the same names of past directors/secretaries are listed for the other companies also.  It’s all starting to feel like these companies/people are dodgy they probably make a living of setting up companies obtaining cash and moving on.  I haven’t paid my fees to HBS as Martin Kilbride said I didn’t need to when I told him I was sick of paying fees for an investment that should have paid out in 3 years and is now at 13 years. I feel I will have to instruct a solicitor to look into this correspondence from HBS/AVS as not sure if they cut me out as I haven’t pay the fees.

i am not on Facebook if anyone wants to email me  and we can get an email group together it’s lillybethb34@gmail.com and try and get a collective group to fight this together.

 

 

[LizzyB]

Hi all

Ignore the earlier email I posted. i’ve just set up an email account if anyone wants to get in touch and we can try and get a group together regarding how we take this forward.  I am happy to write to the Canada investigations and jornalist details are on a post above. 

Forestlakesgroup@gmail.com

have a read of below obitutory’s for Bradley Marr. Martin Kilbride has posted and lots of people who worked with him in Spain

https://www.google.co.uk/amp/s/www.legacy.com/amp/obituaries/tributes/193887347

 

 

 

[LizzyB]

Not sure if you will be able to open the attachment  i uploaded woth this post it's a court order re Bradley Marr back in 2001-2002 he defrauded investors out of $20 million this court case was only brought in 2010.Also link below re this same company Milennium Financial Ltd in New York seems lots of investors in Scotland got scammed out of their money.

https://www.heraldscotland.com/news/12515608.former-president-of-millennium-financial-faces-charges-in-us/

Also searched and found out Brad Marr was a director of Landcorp Intl in Spain 

I did think many years ago this was a huge scam but thought maybe Brad Marr had changed his ways and was trying to be legit as Forest Lakes did exist and was being developed but seems all the companies involved in this development are dodgy. 

I hate to voice it but might never see our money again but I would be happy to take my land units and transfer them to owning a parcel of land as in the future it could be sold to a developer. 

 

As in my earlier posts email me on forestlakesgroup@gmail.com and we can get a email group together and start looking at how to get help and try and get to the bottom of this mess.

bradley Marr court proceedings.pdf

[John O Donnell]

Greetings to all of you fellow investors ...I am also anxious to be part of any group in any actions or updates  on this issue ..Thanking you..John..( Ireland ) 

[JBarrett]

Good to have you on board John.

 

If you're on Facebook it would be well worth you joining the "Forest Lakes country club NS duped investors"  group.  There are now 92 members part of the group (I joined last week) and this is where most of the discussions appear to be taking place.   There's also an e-mail group that has just been set up "forestlakesgroup@gmail.com".  I'm not sure how many people have signed onto it yet though as they appear to be mainly using the Facebook group.  

[Ahlam Mohammed]

On 6/19/2020 at 12:27 AM, noblelite said:

On 6/19/2020 at 12:22 AM, noblelite said:

Yes please Ahlam - https://www.facebook.com/stuart.noble.58

I apologies Stuart for late reply. I don't come often to the forum.

I noticed that you have already been added to the facebook group.

[Ahlam Mohammed]

Hello every one, 

The facebook group is also consider the legal action. It will be best that we all group together.

 

 

Joanna Jaeckel

نجم صاعد

  · 1 ي  · 

 

hi people. (or should I say, fellow scamees?)

Looking at the photo of the letter form the FCA it seems clear to me that the firms we were dealing with in the UK ( or nominally based at the address in Camberley) were clearly scam firms. [see also my previous longish posts about receivership].

The FCA letter seems to suggest that, if we were dealing with a scam firm, then we need to pursue possible legal action.

How many of us/you would be happy to join into a class action with a firm on a no win no fee basis if that were to be possible???

[Ahlam Mohammed]

The Facebook group has now 103 members.

[Ahlam Mohammed]

On 6/21/2020 at 8:41 PM, Mike Jones said:

I am also an investor  and hoping to get something out of this.
 

Is there anybody on this forum with a legal background which can help.

Plus is there a Facebook group that I can join on the subject.

Mike

Hi Mike,  

the Facebook group is forest lakes country club, ns - duped investors

[Ahlam Mohammed]

On 6/11/2020 at 12:23 PM, JJ Byrne said:

Hi,

I purchased 2 sites in Forest Lakes, 1st site Aug. 2008, 2nd site Dec. 2011. No communication since Dec.2018 despite constant efforts on my behalf. My recent e-mail on April 8th was replied to by an automated message outlining an update in the coming weeks. I also had a contact in Spain (Martin Kilbride), he would regularly phone and e-mail with updates, currently his phone and e-mail are not in operation.

Very difficult situation to be in due to lack of communication, great to come across this forum and see I am not on my own. Hopefully we can all come out the other side at least getting our investment back. Keep in touch with each other on any developments.

I am from Ireland, so there seems to be a wide range of investors.

Best Regards,

J.J. Byrne

Hello, Please try to join the Facebook group : forest lakes country club, ns - duped investors

https://www.facebook.com/groups/223960518609669/341918450147208/?comment_id=341934840145569&notif_id=1595350640081182&notif_t=group_comment&ref=notif