To The Editor
Winnipeg Free Press

Crocus Shareholders Should Decide

The future of the remaining assets of the Crocus Investment Fund should be decided by the people with the most at stake – the shareholders. The court-appointed Receiver ought to do the right thing and call a meeting of shareholders immediately, rather than be tugged by the ear into it when enough shareholders sign Requisition for Meeting forms, as they soon will.

The question that shareholders need to decide is should they accept an offer to purchase the Crocus Fund put forward by Vancouver-based GrowthWorks, which has an excellent track record in restoring troubled investment funds to health. The option is to stand by helplessly while the receiver sells off the Funds assets over the next five years, virtually ensuring a substantial loss on share value.

The reason why the court refused to order that a shareholder’s meeting be held last fall is no longer an issue and should not be held up by the receiver as a reason for not doing the right thing.

Whatever the Shareholders decide to do, the decision is theirs to make – not the receiver's.

Darlene Dziewit
President
Manitoba Federation of Labour