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Last Updated: Nov. 30, 2010 Legal Terms of Use

  
Contact
portus@kpmg.ca
 

Current Status of Bankruptcy

May 26, 2011

Boaz Manor has been convicted of defrauding thousands of investors and sentenced to jail. The sentence was handed down Wednesday May 25, 2011 by Justice Ian Nordheimer of the Ontario Superior Court of Justice. After sentencing, Manor was handcuffed and led out of the courtroom to begin serving his time.

Boaz Manor pleaded guilty to one count of money laundering funds obtained through breach of trust and one count of disobeying a Court Order and was sentenced to 4 years and 2 years for each count respectively, to be served concurrently. The four year sentence was reached through an agreement between Manor’s defence lawyer, the Crown prosecutor, and approved by Justice Nordheimer.

As of May 26, 2011, proceedings before the Ontario Securities Commission are still ongoing.


August 13, 2010

 

To Make a Claim from the Office of the Superintendent of Bankruptcy Canada ("OSB")

As of December 21, 2009, KPMG as Trustee of the Consolidated Estate of Portus Alternative Asset Management Inc. and Portus Asset Management Inc., bankrupts. made four allocations totaling 95.14% to the investors of the Consolidated Estate with approved and allowed claims. Upon completion of the final allocation in December 2009 and complying with a Court Order dated September 8, 2009 all Portus registered products were de-registered by December 31, 2009 and any outstanding cheques were subsequently stopped and voided in 2010. As either a registered or non-registered Portus investor with an approved and allowed claim in the Consolidated Estate, if you have not received four allocations totaling 95.14% you may be entitled to claim your outstanding distributions from the OSB. KPMG as Trustee notes that in order to claim any funds from the OSB, investors will be required to follow and comply with the OSB procedures and requirements and direct any questions or concerns to the OSB. A Portus investor may make a request for unclaimed funds from the OSB as an individual, a business, or an authorized third party.

To submit a claim, please begin at the following link: http://www.ic.gc.ca/eic/site/bsf-osb.nsf/eng/h_br01997.html

We note that the OSB states:

  • "There is a non-refundable $30 fee required for each unclaimed fund requested. A cheque or money order for this amount should accompany the request and be made payable to the "Receiver General for Canada".
  • The Office of the Superintendent of Bankruptcy (OSB) retains the right to require additional documentation in support of an application for payment of an unclaimed fund and to refuse payment when inadequate documentation and proof have been submitted."

The following link provided by the OSB enables a Portus investor to search for their claim: http://www.ic.gc.ca/cgi-bin/sc_mrksv/bnkrptcy/ud/ud_srch.pl?lang=eng

Once an investor has verified a valid claim and compiled a package of documentation for submission to the OSB, they may then forward the claim to:

Office of the Superintendent of Bankruptcy
Business and Financial Services
Heritage Place
155 Queen Street, 4th Floor
Ottawa ON K1A 0H5

You can contact the OSB at: 1-613-941-5766

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