Alberta · Receivership (court-appointed)
Second Report of the Receiver
Court officer report · 24 August 2026
A plain-language read of this filing opens with a subscription.
What we verified from this filing4 verified
- operational summaryMTI has no ongoing legitimate business operations (it was a Ponzi scheme) and is in South African liquidation; the Receiver is focused on developing and seeking approval of a claims/clawback process against Canadian Investors rather than any operating business.
- professional feesnote: Estimates only, not actual incurred fees: Liability Order phase - Miller Thomson legal costs approx. $250,000-$400,000 plus taxes and disbursements; Receiver's own professional fees approx. $100,000-$150,000. Quantum phase - Receiver's fees approx. $150,000-$250,000; Miller Thomson approx. $200,000-$300,000; claims adjudicator $5,000-$10,000 per adjudicated claim. Separately, Joint Liquidators (South African liquidators, not this Receiver) have incurred over $1 million in legal fees over three years, and globally approximately US$9 million spent pursuing recovery. · party: Receiver (GlassRatner) and Miller Thomson LLP (counsel) · period: Liability Order phase and quantum phase estimates · currency: CAD
- report date24 August 2026
- report noSecond Report