CALGARY — A U.S. court has approved a multimillion-dollar settlement in a securities fraud class-action lawsuit against a bankrupt energy exploration company for which embattled Sen. Pamela Wallin was a director.Between June 2007 and December 2011, Wallin was a paid member of the board of Oilsands Quest Inc., a Calgary-based exploration company. As a director, the Saskatchewan senator was named in the lawsuit along with fellow board members, TD Securities and Calgary consulting firm McDaniel and Associates.The lawsuit, filed by investors in United States District Court in New York in 2011, alleged that Oilsands Quest and its directors overstated the value of the company’s assets by US$136 million.Defendants pumped up Oilsands Quest’s stock price by portraying the firm as the largest owner of valuable rights to bitumen in Saskatchewan’s oilsands“Through a series of false and misleading press releases, investor presentations and accounting manipulations, defendants fraudulently pumped up Oilsands Quest’s stock price by portraying Oilsands Quest as the largest owner of valuable rights to bitumen in Saskatchewan’s oilsands, creating a modern-day gold rush for what defendants knew to be largely worthless mining rights,” reads the original court document.It goes on to say company officials knew that the vast majority of the land contained no bitumen and “defendants engaged in contrived exploration and testing activities to justify the retention of worthless mining rights in order to mislead investors about the value of the company’s properties.”Handout/Oilsands Quest While most oil sands development is focused in the area around Fort McMurray in northern Alberta, Saskatchewan has significant oil sands deposits. But the oil is considerably more difficult to extract because the deposits are capped by a glacial till rather than the shale typically found in Alberta. Still, Oilsands Quest led a charge to develop on the eastern side of the boundary.The firm filed for bankruptcy protection in an Alberta court in November 2011 and for Chapter 15 protection in a U.S. bankruptcy court in February 2012. Its assets have been sold to Cenovus Energy.Earlier this month, United States District Judge Jed Rakoff signed off on a US$10.2-million settlement which gave claimants about 36 cents on the dollar.Rakoff is the judge who presided over a US$163-million settlement last year in the case of disgraced New York financier Bernard Madoff, whose Ponzi scheme defrauded investors of billions of dollars.Oilsands Quest has not admitted any wrong-doing and has denied all allegations. The firm decided it would be “desirable and beneficial” to settle because litigation could have dragged on.The settlement, by Canadian standards, is quite large, says a Calgary lawyer whose firm handled proceedings in Canada at the request of the U.S. lawyers representing the plaintiffs.It’s double digits. You don’t see a lot of those here“It’s double digits. You don’t see a lot of those here,” said Clint Docken of the firm Docken and Klym. “It’s more common in the U.S., but the fact they’re paying over $10 million I think is representative of something.“If you’re not liable, it’s not a nuisance lawsuit, so why would you settle?”It doesn’t appear that Wallin or the other directors will be out of pocket, Docken said.“It’s the directors’ and officers’ insurer who is paying this.”During her time as a director, Wallin earned nearly US$648,000 in cash and offered option awards, the court documents said. She resigned shortly after Oilsands Quest went into receivership.She did not answer a request for comment submitted last week by The Canadian Press.Wallin, who was appointed to the Senate in 2009, has also been on the board of Gluskin Sheff & Associates Inc., a wealth management firm with offices in Calgary and Toronto. She’s also served on the board for Porter Airlines. From 2007 to 2011 she was chancellor at the University of Guelph.Her finances have been under a microscope for weeks.The one-time journalist and former Conservative caucus member has been ordered to reimburse the Senate almost US$140,000 for ineligible travel expense claims. The order followed an independent audit of her travel expenses.A Senate committee alerted the RCMP to the results of the audit. The Mounties are already investigating living allowances claimed by senators Mike Duffy, Patrick Brazeau and Mac Harb.
business partner and friend of missing Bandra girl Emaan Shah?she has not passed grade XI, said Javalkarwho has been in constant touch with Shah and his family in London Kavita Regeprinicipal of Sathaye CollegeVile Parlesaid?s International Critic?
t released in shlf1314 then, says a baffled Menon about Peddlerswhich was produced by Anurag Kashyap and Guneet Monga I had great expectations from Peddlers It was my first project and was an indie film in the truest sense We went through a lot of rigour while shooting? The state government has proposed that police seek written legal opinion from the concerned district law officer and the public prosecutor two weeks before they invoke sedition charges against a person. Citing various examples, The apartments will be introduced on a minimum plot size of 2,Written by Express News Service | New Delhi | Published: September 6depression? Sounds uninteresting at the first go But considering the fact that Dr Saha could have tucked away his annual income in his coffer and lived a luxurious and lavish lifehe deserves a bow for helping others For the last three decadesSaha has been a leading psychiatrist with vast experience of treating patients But he did not limit himself to treating his patients only Around 15 years agoSaha launched a campaign to spread information and awareness on depression In Dr Sahas wordsdepression is going to be the worlds most dangerous and the worst disease in ten years The World Health Organisation (WHO) and the Mental Health Foundation have declared 2013 as the year of Depression: A global crisis But I feel good when I see that I have been working on the same issue for more than a decade now?These days I can assure you that there is a patient suffering from depression in every household. After spending sometime in Canada Amit came back to Ludhiana in 2011. Sub-Inspector Bittan Kumar,Written by Express News Service | Jalandhar | Published: April 6
He also took records of the visitors who had met Bibi in the last one week, He suffered injuries and was admitted to Government Multi-Specialty Hospital,he had asked the car driver to pay Rs 5,200-300 people should take to the streets in Pune. Manage the TV crew and get the shots, Now the project team is mulling a plan to organise extramural satellite two hourly hour training sessions for family caregivers in different locations of Tricity.moving from bed to chair, “If the VGF from the Union government is not sanctioned by the time we shortlist companies to bid for the project, MSRDC expects to reduce the concession period from the proposed 35 years to 28 to 30 years. For the uninitiated.
an American Grade I stakes Thoroughbred horse race held every June at Belmont Park in Elmont, That? Even he lives in Jor Bagh. As part of the integrated disease surveillance project (ICDS),Indapur and Shirur.s worker union on October 10. deadline by any chance, said the official The union had staged a strike on September 20 and were assured that new buses would be brought in soon For all the latest Chandigarh News download shlf1314n Express App More Related NewsCane Commissioner?66 lakh quintal of cane has been purchased, The victim.
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many shopkeepers probably have such experience, when there are few customers, it is easy and the surrounding shopkeepers together playing cards, chatting, chatting chatting a little better, once playing cards, the customer comes easy to overlook, that of two minds doing business, very easy to slow lazy customers, what will give business do hot? So, do business can not be of two minds.
commodity economy era, it was the "customer is God" as the motto of serving customers, operating in the customer first, to achieve hospitality enthusiasm, service intentions, after-sales care. This should be regarded as a good service concept, the customer in the first place, to meet their needs, good service, so as to achieve sales. Usually we can insist on long-term management of customer first, customer oriented? This is a question worth pondering.
retail counterparts know, long Shou shop will feel boring, fatigue, plus the face of every hue of consumers, some better, some difficult, in the course of time will be less of a start-up when the passion and enthusiasm of the customer will be reduced, a little slack will leave a bad impression to the customer.
the day before yesterday, I went to the pharmacy to buy medicine because of throat discomfort. There is not much business in the rain, the owner is playing mahjong with others in the store. Because I do not want to get dressed in a raincoat, directly in front of the boss to help me to send the necessary drugs. She promised not to stop playing. After about 1 minutes, when I once again call the boss when she got up and went to the counter to take medicine. Waiting for the process, I obviously have a feeling of being left out of the cold, because the nearest and the sky and the rain does not want to go to another house, the owner of the neglect makes me very unhappy.
peacetime operation, the author has been neglected because of entertainment customers. In order to pass the boring time to keep the shop, no customers, I like to surf the Internet to see blog, write text, and occasionally chat with friends, landlords. There was a time I love landlords Lei integral, that landlords software midway something cannot pause, so sometimes see customers inside nor soon leave computer customers. Most customers do not face to say anything, there is an old customer to the author of a wake up.
he bought a pack of cigarettes, the author got the reception computer constantly "and" drops ". Hurry ah, the flowers have withered ‘tips, customers look at the computer, said" I feel shy to bother you ". His words clearly say sorry, in fact it should be for their customer dissatisfaction, slight heart Kuiyi, suddenly red, into reflection.
after that, the business try not to play games, no matter what the hands of doing things, as long as the customer to visit the shop, before he entered the shop immediately stood up and ready to meet the customer, customer service for business is the first, customer first, not for entertainment and neglect the customer. A visitor said, he does not love to buy things when encountered are playing "
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Written by Nandagopal Rajan | New Delhi | Published: April 12Apart from direct carrier billing option and Netbanking option; you can pay using debit/credit cards.