Friday, November 20, 2009
Friday, November 13, 2009
Sunday, November 8, 2009
Retainer Agreement
Please copy and paste the link below or check BDo's website to get a copy of the Retainer Agreement:
http://www.bdo.ca/extranets/imagineadoption/
Retainer agreements are due back by Nov.30th.
http://www.bdo.ca/extranets/imagineadoption/
Retainer agreements are due back by Nov.30th.
Monday, November 2, 2009
Saturday, October 31, 2009
Unfortunate News for Ghana families
Please go to the Imagine Adoption support group on Facebook under the 'discussions' to see an update provided by BDO and Imagine to the Ghana families on Friday, Oct.30/09.
I am so sorry for all of the families in the Ghana program. My heart goes out to all of you.
I am so sorry for all of the families in the Ghana program. My heart goes out to all of you.
Friday, October 30, 2009
A General Update from BDO's website - Oct.30/09
General Update Friday October 30th
Time Period of October 15th – October 28th
Prepared by the Board of Directors
Since the last update on October 14, the new Board of Directors would like to advise you of the progress made in the on-going efforts to resume the operations of Imagine Adoption. The Board of Directors met in the last period on October 19th and then again on October 26th.
Office Update
The transition to the new office has not been as smooth as anticipated and we are still without phone lines as a result of service delivery issues with Rogers as well as other vendors. This delay has had some unintended consequences and it is with regret that as a result of the delays, we have not been able to open up the formal communication with families that we were all hoping for.
Although this delay is disappointing, progress is being made with the set-up of the office and we are all committed to having the operation up and running as soon as possible.
Moving forward, here is the key contact information that you have been asking for.
Mailing Address: 382 Queen Street West
Cambridge, Ontario N3C 1G8
Phone Number: 519-267-3841 (not yet operational)
Email Contacts: Jo Ann Barber joann@imagineadoption.ca
Valerie Goodyear val@imagineadoption.ca
Melissa Burke melissa@imagineadoption.ca
Ted Giesbrecht – Communication Update
During the bankruptcy, Ted Giesbrecht was retained by BDO Dunwoody to assist with the handling of families’ files during the process of determining the future of the agency. This was a beneficial relationship and a key component to the recovery of the agency.
Since the transition is nearing completion, Ted, his firm, as well as the Board of Directors are politely asking that all future communication from families be transitioned to the new office of Imagine Adoption. We acknowledge that our communication portals have taken longer to implement then we were hoping but we ask that all families start to use the above contact points for your direct inquiries.
To close on this point, on behalf of the Board of Directors, we would like to use this communication as a public acknowledgement and a sincere thank you to Ted and his entire office for the support and ongoing commitment that they have shown during the past 4 months. Words cannot express the gratitude that we all feel.
Travel Update:
We are pleased to have finalized the travel agenda for the working committee that will be leaving for Addis Ababa on October 30th and returning on November 9th. The committee consists of Valerie Goodyear, Christine Starr and Ted Giesbrecht.
As stated in the previous update, the mission for the visit will consist of the following items:
o Establishing and renewing orphanage contracts
o Evaluating current operations
o Assisting with the cases of children currently matched with families
o Relationship building with our partners that are critical to the overall success of the international adoption process
Retainer Agreement Update:
The process of drafting the formal retainer agreement is nearing completion and we are very close to having our draft copy approved. Once this happens, it will be a priority of the staff to have these documents sent out to the families. The date by which renewal fees must be paid under the retainer agreement is November 30th so rest assured that we are well positioned to achieve this goal as proposed.
Ghana Update
There will be an update posted early next week regarding the review of the adoption program for Ghana.
Respectfully, The Board of Directors
Time Period of October 15th – October 28th
Prepared by the Board of Directors
Since the last update on October 14, the new Board of Directors would like to advise you of the progress made in the on-going efforts to resume the operations of Imagine Adoption. The Board of Directors met in the last period on October 19th and then again on October 26th.
Office Update
The transition to the new office has not been as smooth as anticipated and we are still without phone lines as a result of service delivery issues with Rogers as well as other vendors. This delay has had some unintended consequences and it is with regret that as a result of the delays, we have not been able to open up the formal communication with families that we were all hoping for.
Although this delay is disappointing, progress is being made with the set-up of the office and we are all committed to having the operation up and running as soon as possible.
Moving forward, here is the key contact information that you have been asking for.
Mailing Address: 382 Queen Street West
Cambridge, Ontario N3C 1G8
Phone Number: 519-267-3841 (not yet operational)
Email Contacts: Jo Ann Barber joann@imagineadoption.ca
Valerie Goodyear val@imagineadoption.ca
Melissa Burke melissa@imagineadoption.ca
Ted Giesbrecht – Communication Update
During the bankruptcy, Ted Giesbrecht was retained by BDO Dunwoody to assist with the handling of families’ files during the process of determining the future of the agency. This was a beneficial relationship and a key component to the recovery of the agency.
Since the transition is nearing completion, Ted, his firm, as well as the Board of Directors are politely asking that all future communication from families be transitioned to the new office of Imagine Adoption. We acknowledge that our communication portals have taken longer to implement then we were hoping but we ask that all families start to use the above contact points for your direct inquiries.
To close on this point, on behalf of the Board of Directors, we would like to use this communication as a public acknowledgement and a sincere thank you to Ted and his entire office for the support and ongoing commitment that they have shown during the past 4 months. Words cannot express the gratitude that we all feel.
Travel Update:
We are pleased to have finalized the travel agenda for the working committee that will be leaving for Addis Ababa on October 30th and returning on November 9th. The committee consists of Valerie Goodyear, Christine Starr and Ted Giesbrecht.
As stated in the previous update, the mission for the visit will consist of the following items:
o Establishing and renewing orphanage contracts
o Evaluating current operations
o Assisting with the cases of children currently matched with families
o Relationship building with our partners that are critical to the overall success of the international adoption process
Retainer Agreement Update:
The process of drafting the formal retainer agreement is nearing completion and we are very close to having our draft copy approved. Once this happens, it will be a priority of the staff to have these documents sent out to the families. The date by which renewal fees must be paid under the retainer agreement is November 30th so rest assured that we are well positioned to achieve this goal as proposed.
Ghana Update
There will be an update posted early next week regarding the review of the adoption program for Ghana.
Respectfully, The Board of Directors
Thursday, October 29, 2009
New communication from the new board of directors
Please see the FIA website for a communication from the new Board of Directors
Monday, October 19, 2009
BDO update
BDO has posted an update on their website:
http://www.bdo.ca/extranets/imagineadoption/index.cfm
http://www.bdo.ca/extranets/imagineadoption/index.cfm
Friday, October 2, 2009
Oct.2 - General Update
General Update Friday October 2, 2009
BDO prepared in consultation with the new Board of Directors
As scheduled, BDO attended the court for approval of the restructuring proposal on September 29, 2009. The Court Order was signed and will be issued to BDO by the court office as soon as possible. A copy will be posted on this site when available. In the meantime, the organization is proceeding with the restructuring plan immediately.
There have been 2 meetings since the creditor meeting on September 21st for the Directors identified in the proposal. BDO attended the second meeting on September 29.
The priorities are clearly identified and well established by the Board of Directors to restart operations. The action plans for the coming days and weeks including the following:
Open bank accounts and identify signing Officers for cheques and liability commitments of the organization. Action commenced for October 5 start.
Legally appoint the Directors and Officers considering the incorporation articles.
Prepare and issue the family restart contract. Action commenced for October 9, 2009 release.
Hire staff. Commenced for week of October 5th start.
Obtain and set up new offices premises including furniture, telephone lines, file access and computer data base set up. Commenced for week of October 5th start.
Apply for the license renewal. Commenced including conference call with BDO and Ministry for October 11 dead line.
Contact with Ethiopia considering orphanage relationships and transition home needs. Commenced and travel to Ethiopia anticipated before November 30th.
Prepare revised cash flow for coming 4 months considering actual cost contracts.
Report to BDO as monitor as required.
Information will continue to be provided through the BDO web site for Imagine Adoption as this is currently operational and easily accessed. We will confirm on this site the new office telephone number and address as soon as these are in place.
Some questions directed to BDO during the past week include the following for clarification:
Renewal contracts, once ready, will be posted on this web site as well as being emailed to the families. There will be instructions to complete and send these either care of the BDO offices or to the new Imagine Adoption offices.
Files are expected to be handed back to the staff within the next two weeks. In the meantime, BDO is responding to emergency requests for files and forms. We appreciate that families have kept requests to a minimum until the new office is operational.
Thank you for the ongoing effort, input and patience of all involved.
BDO Dunwoody Limited/Susan E. Taves
Board of Directors/Kelly Cussons
BDO prepared in consultation with the new Board of Directors
As scheduled, BDO attended the court for approval of the restructuring proposal on September 29, 2009. The Court Order was signed and will be issued to BDO by the court office as soon as possible. A copy will be posted on this site when available. In the meantime, the organization is proceeding with the restructuring plan immediately.
There have been 2 meetings since the creditor meeting on September 21st for the Directors identified in the proposal. BDO attended the second meeting on September 29.
The priorities are clearly identified and well established by the Board of Directors to restart operations. The action plans for the coming days and weeks including the following:
Open bank accounts and identify signing Officers for cheques and liability commitments of the organization. Action commenced for October 5 start.
Legally appoint the Directors and Officers considering the incorporation articles.
Prepare and issue the family restart contract. Action commenced for October 9, 2009 release.
Hire staff. Commenced for week of October 5th start.
Obtain and set up new offices premises including furniture, telephone lines, file access and computer data base set up. Commenced for week of October 5th start.
Apply for the license renewal. Commenced including conference call with BDO and Ministry for October 11 dead line.
Contact with Ethiopia considering orphanage relationships and transition home needs. Commenced and travel to Ethiopia anticipated before November 30th.
Prepare revised cash flow for coming 4 months considering actual cost contracts.
Report to BDO as monitor as required.
Information will continue to be provided through the BDO web site for Imagine Adoption as this is currently operational and easily accessed. We will confirm on this site the new office telephone number and address as soon as these are in place.
Some questions directed to BDO during the past week include the following for clarification:
Renewal contracts, once ready, will be posted on this web site as well as being emailed to the families. There will be instructions to complete and send these either care of the BDO offices or to the new Imagine Adoption offices.
Files are expected to be handed back to the staff within the next two weeks. In the meantime, BDO is responding to emergency requests for files and forms. We appreciate that families have kept requests to a minimum until the new office is operational.
Thank you for the ongoing effort, input and patience of all involved.
BDO Dunwoody Limited/Susan E. Taves
Board of Directors/Kelly Cussons
Thursday, October 1, 2009
A blog entry by Glen Pearson - MP London North
Just Imagine - September 30, 2009 by glenpearson
Months ago, families attempting to adopt children from Ethiopia received the shattering news that the adoption agency they were working through was declaring sudden bankruptcy. Most of us recall the pain reflected in the faces and comments of the prospective parents and our hearts went out them. Their hopes were finished.
Except they weren’t. From the ashes of deep despair emerged a collective effort that turned tragedy on its head and produced hope when people believed there was none. What is remarkable about the collective effort of these parents-to-be was that they kept themselves together when anger and frustration could have split them in numerous pieces.
Imagine Adoption, and the moving story surrounding the parents, has been alluded to a number of times in this blog. I’ve written of the first meeting my wife and I had with them and how they constructed a plan in those earliest moments that hatched a truly remarkable story of how citizens who organize, share the burden, skillfully express their honest emotions, and arouse their talents can in the end even make government move with alacrity and compassion.
Under the adroit influence of a steering committee, the hopeful parents engaged media, community partners and politicians from various domains and successfully gained support for their efforts. And then just today, the news: “An international adoption agency that collapsed this summer, stunning hundreds of would-be adoptive parents … was moved out of bankruptcy yesterday” (London Free Press).
I’m not sure any of us can really understand the sheer heights these parents climbed, not so much to overcome obstacles, but to get to their children. They turned their collective grief, not to anger, but to faith and endurance. When it seemed all was lost, they could never accept that news because that meant the children in Ethiopia had lost as well. It just wasn’t good enough … and so they organized and prevailed.
Working with government, creditors and a bankruptcy firm, they succeeded in forming a new board of directors, along with an advisory board. Moreover, each family had to pay another $4,000 each to make it work. And it did. Starting at this moment, the board will hire two full-time workers and a part-time worker. At this rate, most of the adoptions will be completed.
I concluded an earlier blog on these inspirational parents by saying, “If only Ottawa worked like this.” That was just speaking of the spirit of cooperation shown by this hardy group. But now that cooperation has reaped its reward, showing us all once again that if citizens can overcome such obstacles with such cooperation and dedication, our own politicians could surely learn some lessons. I can honestly say they have taught me much, but more importantly have given me hope for what is possible.
We live in a strange world where a sports figure, who can masterfully move a small round ball into a cup on the green can be asked to dine with presidents and prime ministers. Self-serving and self-absorbed entertainers gain immediate access to the halls of power. What are we thinking? The kind of people who should be extended the red carpet into Parliament are people like these parents. They are neither masters of the inconsequential nor purveyors of their own self-image. Instead, they are what we should all emulate. Their secret of power and success was their humility and belief – the very things in such short supply in our nation’s capital these days. Well done. Enjoy your kids.
Months ago, families attempting to adopt children from Ethiopia received the shattering news that the adoption agency they were working through was declaring sudden bankruptcy. Most of us recall the pain reflected in the faces and comments of the prospective parents and our hearts went out them. Their hopes were finished.
Except they weren’t. From the ashes of deep despair emerged a collective effort that turned tragedy on its head and produced hope when people believed there was none. What is remarkable about the collective effort of these parents-to-be was that they kept themselves together when anger and frustration could have split them in numerous pieces.
Imagine Adoption, and the moving story surrounding the parents, has been alluded to a number of times in this blog. I’ve written of the first meeting my wife and I had with them and how they constructed a plan in those earliest moments that hatched a truly remarkable story of how citizens who organize, share the burden, skillfully express their honest emotions, and arouse their talents can in the end even make government move with alacrity and compassion.
Under the adroit influence of a steering committee, the hopeful parents engaged media, community partners and politicians from various domains and successfully gained support for their efforts. And then just today, the news: “An international adoption agency that collapsed this summer, stunning hundreds of would-be adoptive parents … was moved out of bankruptcy yesterday” (London Free Press).
I’m not sure any of us can really understand the sheer heights these parents climbed, not so much to overcome obstacles, but to get to their children. They turned their collective grief, not to anger, but to faith and endurance. When it seemed all was lost, they could never accept that news because that meant the children in Ethiopia had lost as well. It just wasn’t good enough … and so they organized and prevailed.
Working with government, creditors and a bankruptcy firm, they succeeded in forming a new board of directors, along with an advisory board. Moreover, each family had to pay another $4,000 each to make it work. And it did. Starting at this moment, the board will hire two full-time workers and a part-time worker. At this rate, most of the adoptions will be completed.
I concluded an earlier blog on these inspirational parents by saying, “If only Ottawa worked like this.” That was just speaking of the spirit of cooperation shown by this hardy group. But now that cooperation has reaped its reward, showing us all once again that if citizens can overcome such obstacles with such cooperation and dedication, our own politicians could surely learn some lessons. I can honestly say they have taught me much, but more importantly have given me hope for what is possible.
We live in a strange world where a sports figure, who can masterfully move a small round ball into a cup on the green can be asked to dine with presidents and prime ministers. Self-serving and self-absorbed entertainers gain immediate access to the halls of power. What are we thinking? The kind of people who should be extended the red carpet into Parliament are people like these parents. They are neither masters of the inconsequential nor purveyors of their own self-image. Instead, they are what we should all emulate. Their secret of power and success was their humility and belief – the very things in such short supply in our nation’s capital these days. Well done. Enjoy your kids.
Wednesday, September 30, 2009
updates
two items:
1) BDO has updated their website:
http://www.bdo.ca/extranets/imagineadoption/docs/Minutes%20of%20the%20General%20Meeting%20of%20Creditors.PDF
2) the proposal has passed court!
1) BDO has updated their website:
http://www.bdo.ca/extranets/imagineadoption/docs/Minutes%20of%20the%20General%20Meeting%20of%20Creditors.PDF
2) the proposal has passed court!
Tuesday, September 22, 2009
Ministry update
Please see the following update posted by the ministry of Ontario today:
http://www.children.gov.on.ca/htdocs/English/news/kidslink/index.aspx
http://www.children.gov.on.ca/htdocs/English/news/kidslink/index.aspx
BDO website updated
BDO's website has been updated with the outcome of the creditor's meeting. Please check it out or copy and paste this link:
http://www.bdo.ca/extranets/imagineadoption/docs/Notice%20of%20Hearing%20for%20Court%20Approval%20of%20Proposal.PDF
http://www.bdo.ca/extranets/imagineadoption/docs/Notice%20of%20Hearing%20for%20Court%20Approval%20of%20Proposal.PDF
Monday, September 21, 2009
WE DID IT!
The proposal was accepted with a resounding YES! Court has been scheduled for Sept.29th.
Congratulations everyone - we did it!
YES WE DID.
Congratulations everyone - we did it!
YES WE DID.
Friday, September 18, 2009
Tuesday, September 15, 2009
New FAQ's are up on BDO's website
BDO has updated their FAQ's today with more Q&A
Please see their link on the right of this page for more information
Please see their link on the right of this page for more information
Some Q&A with BDO
The following are some answers from BDO to some of the questions coming from our AB families. I have relayed them as accurately as possible, the way I perceived was correct. For more information or clarity, please contact BDO. I believe most are addressed on the new FAQ's posted on BDO's website.
Q. Does a yes vote oblige you to pay the renewal fees.
A. No, a new retainer agreement will be sent out.
Q.Who is the restructuring group?
A. The proposed new board of directors are the restructuring group. They submitted a plan along with many other groups and their plan/group was deemed most viable.
Q.Why a new business? Why ask us all for an appropriate amount to complete all of our adoptions rather than rely on new clients?
A. Some people complain that the fee is too high, others that it is too low. If the agency is running smoothly, why not accept new clients? This was a decision that was made when the proposal was created.
Q. Is fund raising ties directly to this proposal? If I do not want to fundraise, will I have to pay more fees?
A. The organization itself is planning to fundraise, not the families. Families will not be required to fundraise. The organization will undertake fundraising to help reduce costs.
Q. Can you abstain from voting? If you abstain, can you jump on board if this proposal takes off?
A. Yes. If you abstain then you may decide later to pay the renewal fee and join the agency. However, if too many families abstain and not enough vote yes, then this proposal may still fail. The results of the votes will have to be presented in court after the creditor's meeting, at which time if many abstain and still less than 51% say yes, then the proposal will fail.
Q. Can you put adoptions on hold if extenuating circumstances require it?
A. Probably. This would have to be confirmed by the restructuring group, but it is unlikely that this would not be allowed.
Q. Have any applications been submitted for the new Executive Director?
A. Yes. 5 applications have come in. The executive director will not be a board member
Q. Will the transition home be shut down.
A. Unknown. If good relationships with the orphanages can be established then this could be a possibility.
Q. Does a yes vote oblige you to pay the renewal fees.
A. No, a new retainer agreement will be sent out.
Q.Who is the restructuring group?
A. The proposed new board of directors are the restructuring group. They submitted a plan along with many other groups and their plan/group was deemed most viable.
Q.Why a new business? Why ask us all for an appropriate amount to complete all of our adoptions rather than rely on new clients?
A. Some people complain that the fee is too high, others that it is too low. If the agency is running smoothly, why not accept new clients? This was a decision that was made when the proposal was created.
Q. Is fund raising ties directly to this proposal? If I do not want to fundraise, will I have to pay more fees?
A. The organization itself is planning to fundraise, not the families. Families will not be required to fundraise. The organization will undertake fundraising to help reduce costs.
Q. Can you abstain from voting? If you abstain, can you jump on board if this proposal takes off?
A. Yes. If you abstain then you may decide later to pay the renewal fee and join the agency. However, if too many families abstain and not enough vote yes, then this proposal may still fail. The results of the votes will have to be presented in court after the creditor's meeting, at which time if many abstain and still less than 51% say yes, then the proposal will fail.
Q. Can you put adoptions on hold if extenuating circumstances require it?
A. Probably. This would have to be confirmed by the restructuring group, but it is unlikely that this would not be allowed.
Q. Have any applications been submitted for the new Executive Director?
A. Yes. 5 applications have come in. The executive director will not be a board member
Q. Will the transition home be shut down.
A. Unknown. If good relationships with the orphanages can be established then this could be a possibility.
Saturday, September 12, 2009
- A Message from FIA Committee
————————————
This posting regarding the filed proposal for Imagine Adoption is from the Chairs of the FIA Steering Committee.
The posting was reviewed by a representative of the proposed new Board of Directors for Imagine Adoption and in consultation with BDO Dunwoody Limited as the Trustee in the Bankruptcy.
Since the posting of the proposal on September 4th and the financial projections on September 8th, there have been questions for clarification. While some questions have been asked directly to BDO, others have been asked in open forums or directly to members of the Steering Committee.
We recognize how important it is to have the most accurate knowledge about the proposal in order to make the best decision for each family. In order to ensure that families can feel confident that they are receiving accurate information the Chairs of the Steering Committee have decided that all communications in regards to answering questions from the FIA will cease.
Therefore, please refer to the BDO web site where FAQ and other information is being provided. Also, you can submit questions to the email address of imagineadoption@bdo.ca
As this is the same email as being used for Voting, please insure to place the word “Question” in the subject line. These will be forwarded to the responsible parties to provide responses on the BDO site. Alternatively, you may contact BDO directly with your questions.
Good luck as you consider the next steps for Imagine Adoption and the process of international adoptions. The creditor meeting on September 21st will conclude the status of the proposal.
Thank you.
Rob Eagleson, Co-Chair, FIA Steering Committee
This posting regarding the filed proposal for Imagine Adoption is from the Chairs of the FIA Steering Committee.
The posting was reviewed by a representative of the proposed new Board of Directors for Imagine Adoption and in consultation with BDO Dunwoody Limited as the Trustee in the Bankruptcy.
Since the posting of the proposal on September 4th and the financial projections on September 8th, there have been questions for clarification. While some questions have been asked directly to BDO, others have been asked in open forums or directly to members of the Steering Committee.
We recognize how important it is to have the most accurate knowledge about the proposal in order to make the best decision for each family. In order to ensure that families can feel confident that they are receiving accurate information the Chairs of the Steering Committee have decided that all communications in regards to answering questions from the FIA will cease.
Therefore, please refer to the BDO web site where FAQ and other information is being provided. Also, you can submit questions to the email address of imagineadoption@bdo.ca
As this is the same email as being used for Voting, please insure to place the word “Question” in the subject line. These will be forwarded to the responsible parties to provide responses on the BDO site. Alternatively, you may contact BDO directly with your questions.
Good luck as you consider the next steps for Imagine Adoption and the process of international adoptions. The creditor meeting on September 21st will conclude the status of the proposal.
Thank you.
Rob Eagleson, Co-Chair, FIA Steering Committee
Tuesday, September 8, 2009
BDO FAQ's
The following information is provided since posting the proposal on September 4, 2009. Questions were directed to BDO or received from families in collective groups (steering committees or otherwise). BDO will continue to receive questions and provide clarification as quickly as possible through FAQ postings.
http://www.bdo.ca/extranets/imagineadoption/docs/Proposal%20FAQ.PDF
After I vote, how soon will BDO move forward with court approval?
-----------
Creditors have up to the creditors meeting to cast their vote on the proposal In the meantime BOO will be tracking votes as they are received. If you have decided how you will vote, you are encouraged to submit your vote as soon as possible.
If at the creditors' meeting the required voting thresholds are reached to approve the proposal. BDO will proceed with Court approval There is a minimum 10 day notice period required before a Court date. The Trustee is reviewing the possibility of expediting the Court approval process.
What are the voting thresholds required to move the proposal forward?
-----------
In order for a proposal to be accepted by the creditors 51 % of creditors holding at least 2/3 of the value of the proven claims of each class of creditors must vote in favour of the proposal as per Section 54{2) of the Bankruptcy and Insolvency Act.
What happens if I vote against the proposal, and how much money would be returned to me?
-----------
Pursuant to Section 9 of the Proposal, if the proposal is accepted by the creditors, no funds will be payable to the families (except as provided for in Section 12 of the proposal regarding the recovery of funds).
If the proposal is not accepted, Imagine Adoption will remain in bankruptcy. A dividend rate of approximately 7.3% is estimated. This amount may be reduced given the legal review that may be required throughout the bankruptcy process.
How do I vote by email?
-----------
Creditors may cast their vote by completing the voting letter and returning it to BOO by mail, fax or scanning a copy of the voting letter and returning it by email Contact information can be found on the voting letter.
There is only one signature space on the voting letter. If we are a couple, are we both required to sign the document?
-----------
No, only one signature is required on the voting letter and only one vote will be accepted per family.
Where I can find the proposal and voting letter?
-----------
All pertinent information including the voting letter can be found on the BDO website
http://www.bdo.ca/imagineadoption.
We never received the claims form from BDO. How can I make sure I receive the proposal package?
-----------
Section 51 of the Bankruptcy and Insolvency Act requires the Trustee to provided notice of the creditors meeting at least ten days prior to the meeting. These were mailed on September 8th.!f you have not received your package by September 12, 2009, individuals are asked to contact BDO. Alternatively all documents will be posted to the BOO website.
How long will it take to complete our adoptions and/or referrals? Will referrals occur starting immediately?
-----------
The new management will report back in February 2010 regarding adoptions, time lines and overall operations. They hope to restart referrals and concluding adoptions quickly. The will be better able to
answer these questions by February 2010.
Why is February 2010 a key date?
-----------
It was recognized that the new management would have to report to all stakeholders quickly. Four months was considered a reasonable estimate of time for the restructured company to have completed their assessments of all adoption programs and complete a comprehensive report to the stakeholders as to the status of the company. This date has been integrated in Section 14 of the proposal as the first key milestone ..
What is being done for those whose home studies are due to expire soon?
-----------
The ministry discussed this with BOO on September 8. They recognize the bankruptcy and proposal has caused a delay beyond control of the families. There will be further clarification shortly (some extension is being discussed).
When should we expect the cash flow statements?
-----------
The cash flow statements will be posted to the BOO website September 8 or 9th.
What is the $4000 recovery fee for?
-----------
This amount required by families is to provide some start up funding for operations of the restructured company. Other funding will come from the Bankruptcy estate, possible fundraising and from the balance of the fees required to complete adoptions
Why was it determined to have two installments of $2000?
-----------
The split payment of the recovery fee is to protect the families. There is no reason to collect extra funds for the first 4 months. The balance is due in March 2010 when a viable operating plan is certain.
We signed on with IA before the fee increase in November 2008. If we were to continue with this adoption, what exactly would our fees be?
-----------
Families would pay the same amount they owed before the bankruptcy in addition to the $4000 renewal fee. This is noted at Section 9 of the proposal.
Would we have to pay a higher renewal fee if we're adopting siblings?
-----------
No, the renewal fee is $4000 per family, for either single and sibling adoptions.
When is the $4000 renewal fee due?
-----------
The first $2,000 will be due upon signing the renewal contract with the restructured Imagine Adoption. The second $2,000 will be due in March 2010 as per section 9 of the proposal.
Will there be any large scale fundraising initiatives?
-----------
The new Board and management are considering this. A charitable organization is being reviewed for fundraising. The cash flows assume some fundraising with exact details still to be discussed.
Has the new Executive Director been confirmed yet?
-----------
There have been several individuals in contact with the new Board regarding their resume and interest in this position. The Board of Directors will conclude hiring the Executive Director if the proposal proceeds. It will be a formal application process. Based on our discussions to date, there are good qualified options.
Would children be referred from orphanages or would the Transition Home be re-opened and staff re-hired?
-----------
Point 14 of the proposal confirms that the status and ongoing role of the Transition Home will be assessed by February 2010. Operational issues including costs along with optimal care facilities for children will be considered in answering this question.
Has the referral process been discussed specifically?
-----------
The specifics for referrals will be decided by the Board of Directors and Advisory committee. If/when the company is brought out of bankruptcy, a board will assess and report on the referral process. A date driven selection of families for referral is anticipated. BDO will monitor this process/information.
Who decided the Board of Directors, are there conflicts, how will changes occur?
-----------
The Directors were in contact with several of the key organizers for this restructuring plan. Their credentials, experience and availability of time for this volunteer role were all factored in to assemble the Board.
Board members must always declare conflicts within an organization and during meetings. There are some families in the adoption process on the Board. They understand the conflict rules. BDO has reviewed this issue with the Ministry who indicated that some Board representation by adopting families is acceptable. A legal comment was also obtained. The Board is not all families; thus it should be balanced.
The process of changing Board members will be reviewed by the new Board. Typically, board positions are 2 or 3 year terms with options to renew.
If a family is unable to adopt from another country and has already paid their fees, will they have to pay any extra money to switch to the Ethiopia program?
-----------
If you switch to Ethiopia and the fees already paid to IA are less than those fees paid by the Ethiopia adopting families, you will need to pay the difference plus the renewal fees. This is as included in Section 9 of the proposal.
What are the conditions for helping families who are signed on to countries other than Ethiopia? Is it based on what the Ministry will allow?
-----------
Section 14 of the proposal confirms that all country programs will be assessed. This will be to determine if, how and when a Canadian adoption from the other country can proceed. If it is possible and viable, the new agency will facilitate the adoption for you.
What is the status of the Ghana program and why were there not more details outlined in the proposal?
-----------
Section 14 of the proposal confiirms that all countries will be assessed, this will include Ghana. The situation of the Ghana program is unknown and seems to be beyond the control of any Canadian agency. Therefore, it was difficult for the restructuring group to know details to include in the proposal. The Ghana program will be assessed by February 2010 at the latest.
Out of the 350 families, how many families were with the Ghana program?
-----------
There are 26 families in the Ghana program.
With the uncertainty of the Ghana program, are we able to transfer file ASAP into the Ethiopia program?
-----------
Yes. Section 9 of the proposal confirms that "if the program through a particular country is not available, affected families will have the option of transferring their adoption process to another Country and maintain the same status and priority based on their application state date of their original program country".
Would this be our original country start date? The date we signed the retainer agreement?
-----------
The start date of any file is the date the dossier was sent for a referral. This occurred immediately after all reports were provided to Imagine Adoption. This way all files will be processed in order of start date based on when families provided information.
As someone who is invested in the Ghana program, how can I possibly make any decision on voting when there is still no indication on whether or not the Ghana program will continue?
-----------
As per Section 14 of the proposal, all countries will be assessed. This includes Ethiopia, Ghana and others. However, there is uncertainty for all countries including Ethiopia. The proposal will ensure families are adopting in date order once country programs can proceed. Unfortunately, there is uncertainty for all countries at this time including Ghana and Ethiopia.
Do I have any options under the proposed plan if our adoption with the Ghana program is not possible, or if I decide not to proceed with the Ghana program?
-----------
See above. Families have the option under the proposal to transfer to the Ethiopia program and still maintain their priority based on the date their file went to Ghana.
Are there any other adoption agencies in Canada that will facilitate adoptions from Ethiopia?
-----------
BDO does not have this information. We understand that CAFAC (who also facilitates Ethiopian adoptions on behalf of Children's Bridge) has posted to their website that they are at full capacity as of September I, 2009.
Will wait listed families have the opportunity to adopt through the restructured agency if approved?
-----------
Yes. New families will be considered in 2011 to start the process.
Report
http://www.bdo.ca/extranets/imagineadoption/docs/Proposal%20FAQ.PDF
After I vote, how soon will BDO move forward with court approval?
-----------
Creditors have up to the creditors meeting to cast their vote on the proposal In the meantime BOO will be tracking votes as they are received. If you have decided how you will vote, you are encouraged to submit your vote as soon as possible.
If at the creditors' meeting the required voting thresholds are reached to approve the proposal. BDO will proceed with Court approval There is a minimum 10 day notice period required before a Court date. The Trustee is reviewing the possibility of expediting the Court approval process.
What are the voting thresholds required to move the proposal forward?
-----------
In order for a proposal to be accepted by the creditors 51 % of creditors holding at least 2/3 of the value of the proven claims of each class of creditors must vote in favour of the proposal as per Section 54{2) of the Bankruptcy and Insolvency Act.
What happens if I vote against the proposal, and how much money would be returned to me?
-----------
Pursuant to Section 9 of the Proposal, if the proposal is accepted by the creditors, no funds will be payable to the families (except as provided for in Section 12 of the proposal regarding the recovery of funds).
If the proposal is not accepted, Imagine Adoption will remain in bankruptcy. A dividend rate of approximately 7.3% is estimated. This amount may be reduced given the legal review that may be required throughout the bankruptcy process.
How do I vote by email?
-----------
Creditors may cast their vote by completing the voting letter and returning it to BOO by mail, fax or scanning a copy of the voting letter and returning it by email Contact information can be found on the voting letter.
There is only one signature space on the voting letter. If we are a couple, are we both required to sign the document?
-----------
No, only one signature is required on the voting letter and only one vote will be accepted per family.
Where I can find the proposal and voting letter?
-----------
All pertinent information including the voting letter can be found on the BDO website
http://www.bdo.ca/imagineadoption.
We never received the claims form from BDO. How can I make sure I receive the proposal package?
-----------
Section 51 of the Bankruptcy and Insolvency Act requires the Trustee to provided notice of the creditors meeting at least ten days prior to the meeting. These were mailed on September 8th.!f you have not received your package by September 12, 2009, individuals are asked to contact BDO. Alternatively all documents will be posted to the BOO website.
How long will it take to complete our adoptions and/or referrals? Will referrals occur starting immediately?
-----------
The new management will report back in February 2010 regarding adoptions, time lines and overall operations. They hope to restart referrals and concluding adoptions quickly. The will be better able to
answer these questions by February 2010.
Why is February 2010 a key date?
-----------
It was recognized that the new management would have to report to all stakeholders quickly. Four months was considered a reasonable estimate of time for the restructured company to have completed their assessments of all adoption programs and complete a comprehensive report to the stakeholders as to the status of the company. This date has been integrated in Section 14 of the proposal as the first key milestone ..
What is being done for those whose home studies are due to expire soon?
-----------
The ministry discussed this with BOO on September 8. They recognize the bankruptcy and proposal has caused a delay beyond control of the families. There will be further clarification shortly (some extension is being discussed).
When should we expect the cash flow statements?
-----------
The cash flow statements will be posted to the BOO website September 8 or 9th.
What is the $4000 recovery fee for?
-----------
This amount required by families is to provide some start up funding for operations of the restructured company. Other funding will come from the Bankruptcy estate, possible fundraising and from the balance of the fees required to complete adoptions
Why was it determined to have two installments of $2000?
-----------
The split payment of the recovery fee is to protect the families. There is no reason to collect extra funds for the first 4 months. The balance is due in March 2010 when a viable operating plan is certain.
We signed on with IA before the fee increase in November 2008. If we were to continue with this adoption, what exactly would our fees be?
-----------
Families would pay the same amount they owed before the bankruptcy in addition to the $4000 renewal fee. This is noted at Section 9 of the proposal.
Would we have to pay a higher renewal fee if we're adopting siblings?
-----------
No, the renewal fee is $4000 per family, for either single and sibling adoptions.
When is the $4000 renewal fee due?
-----------
The first $2,000 will be due upon signing the renewal contract with the restructured Imagine Adoption. The second $2,000 will be due in March 2010 as per section 9 of the proposal.
Will there be any large scale fundraising initiatives?
-----------
The new Board and management are considering this. A charitable organization is being reviewed for fundraising. The cash flows assume some fundraising with exact details still to be discussed.
Has the new Executive Director been confirmed yet?
-----------
There have been several individuals in contact with the new Board regarding their resume and interest in this position. The Board of Directors will conclude hiring the Executive Director if the proposal proceeds. It will be a formal application process. Based on our discussions to date, there are good qualified options.
Would children be referred from orphanages or would the Transition Home be re-opened and staff re-hired?
-----------
Point 14 of the proposal confirms that the status and ongoing role of the Transition Home will be assessed by February 2010. Operational issues including costs along with optimal care facilities for children will be considered in answering this question.
Has the referral process been discussed specifically?
-----------
The specifics for referrals will be decided by the Board of Directors and Advisory committee. If/when the company is brought out of bankruptcy, a board will assess and report on the referral process. A date driven selection of families for referral is anticipated. BDO will monitor this process/information.
Who decided the Board of Directors, are there conflicts, how will changes occur?
-----------
The Directors were in contact with several of the key organizers for this restructuring plan. Their credentials, experience and availability of time for this volunteer role were all factored in to assemble the Board.
Board members must always declare conflicts within an organization and during meetings. There are some families in the adoption process on the Board. They understand the conflict rules. BDO has reviewed this issue with the Ministry who indicated that some Board representation by adopting families is acceptable. A legal comment was also obtained. The Board is not all families; thus it should be balanced.
The process of changing Board members will be reviewed by the new Board. Typically, board positions are 2 or 3 year terms with options to renew.
If a family is unable to adopt from another country and has already paid their fees, will they have to pay any extra money to switch to the Ethiopia program?
-----------
If you switch to Ethiopia and the fees already paid to IA are less than those fees paid by the Ethiopia adopting families, you will need to pay the difference plus the renewal fees. This is as included in Section 9 of the proposal.
What are the conditions for helping families who are signed on to countries other than Ethiopia? Is it based on what the Ministry will allow?
-----------
Section 14 of the proposal confirms that all country programs will be assessed. This will be to determine if, how and when a Canadian adoption from the other country can proceed. If it is possible and viable, the new agency will facilitate the adoption for you.
What is the status of the Ghana program and why were there not more details outlined in the proposal?
-----------
Section 14 of the proposal confiirms that all countries will be assessed, this will include Ghana. The situation of the Ghana program is unknown and seems to be beyond the control of any Canadian agency. Therefore, it was difficult for the restructuring group to know details to include in the proposal. The Ghana program will be assessed by February 2010 at the latest.
Out of the 350 families, how many families were with the Ghana program?
-----------
There are 26 families in the Ghana program.
With the uncertainty of the Ghana program, are we able to transfer file ASAP into the Ethiopia program?
-----------
Yes. Section 9 of the proposal confirms that "if the program through a particular country is not available, affected families will have the option of transferring their adoption process to another Country and maintain the same status and priority based on their application state date of their original program country".
Would this be our original country start date? The date we signed the retainer agreement?
-----------
The start date of any file is the date the dossier was sent for a referral. This occurred immediately after all reports were provided to Imagine Adoption. This way all files will be processed in order of start date based on when families provided information.
As someone who is invested in the Ghana program, how can I possibly make any decision on voting when there is still no indication on whether or not the Ghana program will continue?
-----------
As per Section 14 of the proposal, all countries will be assessed. This includes Ethiopia, Ghana and others. However, there is uncertainty for all countries including Ethiopia. The proposal will ensure families are adopting in date order once country programs can proceed. Unfortunately, there is uncertainty for all countries at this time including Ghana and Ethiopia.
Do I have any options under the proposed plan if our adoption with the Ghana program is not possible, or if I decide not to proceed with the Ghana program?
-----------
See above. Families have the option under the proposal to transfer to the Ethiopia program and still maintain their priority based on the date their file went to Ghana.
Are there any other adoption agencies in Canada that will facilitate adoptions from Ethiopia?
-----------
BDO does not have this information. We understand that CAFAC (who also facilitates Ethiopian adoptions on behalf of Children's Bridge) has posted to their website that they are at full capacity as of September I, 2009.
Will wait listed families have the opportunity to adopt through the restructured agency if approved?
-----------
Yes. New families will be considered in 2011 to start the process.
Report
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