Kathlene Osborne — Irresponsible, Corporately Negligent, Contractually Illiterate.
Do not under any circumstances advance money to private collateral lenders corporation.
Perhaps they can be paid on performance and earn their 'underwriting fees' paid on factual deliverables, through a lawyers trust account, and dispersed with a final statement of adjustments.
To advance monies to them under any other circumstance, contrived assurances, guarantees or reliance paper will result in the loss of your money.
Putting aside all of Osborne's empty diatribe and stupidity — here are the facts:
Fact:
Private Collateral Lenders Corporation committed to a binding contract for funding, with full disclosure and full review.
ALL disclosure documentation clearly outlined the sources in pages 6,9, and 10 as well as the Appendix of independently prepared and contained in a third party QS report for ATB.
The AACI Appraisal and transmittal letters outlined values, market support and current opportunity — ALL independently verified, and ALL validated to acceptable industry standards, and ALL available for independent third party review.
Fact:
Page 6: "We have reviewed the preliminary budget and division breakdown, and have noted no anomalies, and would confirm that we would consider it appear reasonable for completion of works identified on the drawings." (and) "We confirm that we believe the value to be a conservative estimate of the cost of work in place."
Page 9: " We have reviewed each of the above Soft Cost Allowances and confirm that we consider them to be reasonable."
Page 10: "Based on the information provided to Cuthbert Smith Consulting Partnership, the costs shown for the development are considered fair, and that it is considered feasible to complete Stage 1 of the project within the current budget and stipulated time."
Finally: The Trust Agreement and Transfer of Lands contained JV agreement, signed by Private Collateral Lenders, clearly and definitively outlined the defacto ownership of lands, the values agreed to therein, and the terms of engagement.
Fact:
At NO time did the directors, stakeholders or investors convey or present anything other than the face value of a well articulated project, approved for development by the City of Calgary, well staged an equity funding arrangement. At NO time did Kiehlbauch verbalize or state that he had $3.2 of his own money into the project — the attempt by Osborne to fabricate and contrive a story, then lie and create a reason they cannot fund — follows a pattern of fraud.
We are not the only recipients that have experienced this sham.
Fact:
Projects of magnitude are not derived from conjecture, heresy, or loose conversation (s) saying "he said this or she said that." This is true for all projects and commercial undertakings. Everyone knows this.
Even the simplest business person would undertake requisite contextual review of essential working documents. Even, yes, even if grossly erroneous 'lies, lies, lies" were told, (which is not the case and there would be no logical reason to do so), the project and disclosure documentation would still have supported the project, face value, independently reviewed, and verified by third party industry professionals.
Fact:
Unfortuntately Osborne's stupidity on on paper provides a default validation that PCLC had NO funds, NO supporting balance sheets, and fraudulently conveyed their financial capacity at the onset. Factually, they had NO ability to meet the terms of a JV agreement to which they contracted to and mislead a strong development group. This is FRAUD.
Being sloppy and lazy is one thing, but conveying false and intentionally non-factual statements and misleading reliance paper — This is going to be very, very problematic for them.
For Osborne to come back after the fact with weak excuses, massive back peddling, and then launching viscous quest redefine terms according to her limited mental capacity and very immature perspectives — then and lay blame elsewhere for Private Collateral Lender's inability to perform under the terms of an agreement, demonstrates that Kathlene Osborne is corporately irresponsible, with limited perspectives and a shallow aptitude of understanding of contractual law.
PCLC cannot be trusted on any agreements.
This are the FACTs.
Kathlene Osborne is an incompetent buffoon and a cowardly cover-up specialist.
In all industries, even the lowliest of tradesmen require journeyman's certificates to practice. Yet this foolish twit, with no credentials, no industry certifications and no other cred than she is an 'Elder' with BBB filing — promoting the fallacy of millions to fund (nudge nudge, wink wink, with provision ha ha) — yet cannot even read or navigate a simple development appraisal, QS Report, or financing checklist. Please.
What a dolt.
Fact:
Osborne was magnificently absent from negotiations. One would expect that in the capacity of 'president, ' she at least have a tant amount of knowledge of business 101, transaction parameters, and understand the structure of a basic JV Agreement which she committed to.
Her signature to legally binding documents, including bogus statuary declarations & reliance paper, has the depth and fortitude of a chicken scratch of a barnyard hen. (Perhaps that's why she wears feathers, so she won't be mistaken for something more…)
If Osborne were an employee in any other corporation, she would've been fired long ago.
If she were a president of a real corporation here directors would have canned her for incompetence and corporate negligence.
This is our OPINION.
As final exhibit of her ignorance and misguided agenda, she has taken upon herself to assert an on-line medical diagnosis on the mental stability of one who she has never met — one who reports to stakeholders, investors, civic entities — and one who's rational and reasonable efforts to ascertain where $160,000 in 'underwriting' fees disappeared, under clearly defined trust conditions — only to be stonewalled with excuses, back peddling — then a stupid contrived story that 'lies, lies, lies' were told — thus a moral justification for absconding with funds that were advanced in trust.
What a sham.
What a terrible group to do business with.
This is our OPINION.
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As a corporation, we made a terrible mistake relying on the affirmations and statutory declarations of a registered broker who no longer represents Private Collateral Lenders, and by all accounts will be held to account by the Real Estate Council of Alberta.
Private Collateral Lenders Corp Lenders has less than stellar industry, shallow track-record on deliverables, and uses silly BBB acclamations to establish credibility as a business of substance.
Had we been provided with a clear understanding of the entities behind this 'financial fuckery' we would have stayed VERY clear.
It will take legal gymnastics to get anything back…only to find out that, indeed, Private Collateral Lenders had NO Assets, NO Collateral, No money, and at NO time had the capacity to fund anything.
Be aware. Stay very clear.
Private Collateral Lenders will happily take your money, through whatever means possible and promise to hold it securely while they undertake their 'due process' — then quickly rationalize that you don't qualify for a loan you don't want, with money they don't have — and don't expect your funds back. They're gone.
Do not under any circumstances advance money to private collateral lenders corporation.
Perhaps they can be paid on performance and earn their 'underwriting fees' paid on factual deliverables, through a lawyers trust account, and dispersed with a final statement of adjustments.
This is our OPINION.
Milton Kiehlbauch - Director & CEO
Corridor Pacific Development Corp.
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