Friday, August 28, 2009

A Message from Christine Starr, Chair, FIA Committee

Hello Families of Imagine Adoption,

As we wait in anticipation of the release of the proposed
restructuring plan, we'd like to provide you with an update on what
the FIA Steering Committee has been working on recently and to clarify
our role moving forward.

The FIA Steering Committee met on Monday evening. The main agenda item
discussed was 'Communications', and specifically on the best way we
can use our resources to communicate with families and answer any
questions or concerns you may have following the presentation of the
restructuring plan.

The meeting however began with a brief update on our attempts to seek
clarification from the Ontario Ministry of Children and Youth Services
on whether they will extend the homestudy expiry dates for families
whose homestudies have expired between the time Imagine Adoption
declared bankruptcy,
and the resumption of operations, should the restructuring proposal be

Our Government Liaison Chair, Ellen Kalis, reported that the Ministry
has advised that there are precedents in which extensions have been
granted on a case by case basis. Following a discussion on this, the
committee decided that in addition to requesting the provision of
extensions to families whose
homestudies have recently expired, that the FIA would also like a
commitment from the Ministry to extend the normal 24-month validity
timeframe to all FIA homestudies for a period that's equal to the
duration of the interruption of operations resulting from the
bankruptcy. Ellen has agreed to follow up on this
request with the Ministry and determine the process to seek the same
commitment from all provinces.

In our discussion about communications surrounding the anticipated
presentation of the restructuring proposal, it became clear that there
was some misunderstanding about the degree of input families would
have on the specifics of the restructuring plan, as well as
misunderstanding about the FIA Steering
Committee's role in the reviewing of the plan.

The first important point that was stressed during our discussion is
that the process by which the plan is to be reviewed, is dictated by
insolvency legislation and therefore controlled and overseen by BDO.
The FIA Steering Committee as a group has no say or input into this

The restructuring plan has been presented to the five inspectors that
were appointed during the creditors meeting on July 30. They will
review the plan. If they feel it needs to be revised in any way, the
plan will be sent back to the restructuring group (once again, the
restructuring group is not part of the FIA and has all along requested
to maintain their anonymity so that they can focus all of their
attention of the creation of the plan). Once the revisions are made,
the inspectors will reconvene for further review and only once the
inspectors have approved the proposal, will the plan then be presented
to the families.

We've asked our Trustee Liaison Chair, Lianne Armstrong, to request
that BDO issue a communication regarding how the restructuring plan
will be presented to families and provide an estimate of when it will
be presented. Following requests during the Steering Committee
meeting, Lianne will request that BDO
hold some sort of communication forum which will allow all families
from across the country to ask questions they have about the plan
before they vote on it. Hopefully a communication from BDO addressing
these requests will be forthcoming as we, the Steering Committee, have
no information about this matter and are therefore unable to answer
your questions or concerns.

BDO has indicated to FIA that, understanding the complexities of
restructuring proposals, the 2-4 weeks provided was very ambitious,
but initially set in recognition of, and out of respect for how urgent
and difficult a matter this is to all of us. As we near the end of the
timeframe for completing the restructuring plan that BDO initially
gave at the creditors meeting, we should prepare ourselves for the
eventuality that we may have to wait a few days longer than was
suggested. If BDO does exceed these timelines, I urge you not to draw
any negative conclusions from this, but rather, as I am convinced,
assume that
due diligence is being exercised that ultimately will be in the best
interests of all of us.

Acknowledging that we have entered a stage in this journey where the
process is now being dictated by BDO and that communications therefore
have to be initiated by them, the FIA Steering Committee has made it
clear that we are willing to assist BDO with communications moving
forward. The information that we can provide you will be contingent
upon the information that is provided to us. Please be assured that
as soon as we have information to share with you, will we will make
every effort to communicate it as quickly and as broadly as possible.

With warm regards,


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