Brookfield Capital Partners Ltd. is a private equity firm specializing in recapitalization and distressed asset investments. The firm typically invests in real estate, financial, manufacturing, forest products, metals and mining, energy, and power generation. It prefers to exit its investments between three years and seven years. In case of equity investment, it seeks to play a meaningful role in the restructuring process and governance of the recapitalized company. It was formerly known as Tricap Partners Ltd. and has changed its name to Brookfield Capital Partners Ltd. on October 31, 2012. Brookfield Capital Partners Ltd. is based in Toronto, Canada with an additional office in New York, N...
181 Bay Street
Toronto, ON M5J 2T3
Founded in 2006
Champion Stakeholders LLC Announces an Amended Statement of Claim in the Class Action against Brookfield Asset Management Inc., Brookfield Special Situations Ltd. and Hammerstone Corporation
Jun 5 14
Champion Stakeholders LLC announced an Amended Statement of Claim in the class action against Brookfield Asset Management Inc., Brookfield Special Situations Ltd. and Hammerstone Corporation was filed on the 27 May, 2014, file number 1401-05797, in Calgary in the Court of Queen's Bench of Alberta. The Amended Statement of Claim appoints Mr. Lanny K. McDonald as the representative plaintiff. The amended Statement of Claim alleges that the defendants acted in a manner that was oppressive, unfairly prejudicial to, and unfairly disregarded the interests of the Birch Mountain Resources Ltd. common shareholders. The assets of a junior public company, Birch Mountain, worth an appraised $1.6 billion dollars by AMEC, dated August 01, 2006 prepared in accordance with National Instrument 43-101 were transferred to a private company, 1439442, for a cash outlay of less than $50 million dollars as stated in the Amended Statement of Claim. The action is based on the oppression remedy as well as the good faith doctrine and the tort of negligent misrepresentation. The Amended Statement of Claim alleges that: Brookfield and Tricap, usurped shareholders rights and debenture holder rights. Brookfield and Tricap contrived a default to put Birch Mountain into receivership. Brookfield director, James Pattison owner of Great Pacific Capital Corp, received a preferential deal as compensation for his unsecured subordinate convertible debenture shares usurping other subordinate convertible debenture shareholders. Brookfield and Tricap via the PwC receiver's report omitted informing the Receivership Court of the value of the asset and therefore were able to acquire the $1.6 billion asset for undervalue. Brookfield and Tricap via the PwC receiver's report omitted informing the receivership court of the third quarter and cash flow break even position of Birch Mountain. The allegations in the lawsuit have not yet been proven in court.