Despite the announcement yesterday that MNBC sold a major asset, the property in Abbotsford, to assist their current financial demise it is clear that serious questions remain today regarding how the MNBC acquired the school to begin with in 2009.
MNBC claims they have reduced their debt to approximately $4 million as a result of the sale of the school in their statement yesterday which BC Metis Federation believes is not true. According to the MPCBC financial statements ending March 31st, 2013 and the current sale price claimed by MNBC, BC Metis Federation believes the total MNBC insolvency has actually increased to approximately $6.6 million and the total accumulated deficit and outstanding financing is actually $6.8 million.
A press release has been issued this morning to media outlets asking a key question about the role of the Provincial Government in 2009 and what is their role today. Who purchased the MNBC property for the fire sale price of $2.25 million, was it the Provincial Government? MNBC listed the school property for over $6 million and sold for $2.25 million.
Copies of the original MNBC claims in 2009 used to justify the purchase at that time have been attached which appear to state the Provincial Government contributed $2.6 million to MNBC in 2009. BC Metis Federation also believes the Provincial Government, through the Ministry of Aboriginal Relations and Reconciliation, played a major role in supporting the purchase and promoting this school as economic development for Metis in BC. Today and after millions lost already, millions more will be lost that impacts all Metis.
[ilink url=”http://bcmetis.com/wp-content/uploads/BCMF-Press-Release-November-1st-2013-Province-Contributes-to-Millions-Lost-for-Metis.pdf” style=”download”]Download this Press Release in PDF[/ilink]
[ilink url=”http://bcmetis.com/wp-content/uploads/MNBC-letter_of_response_daryl_piper_ccmc_official_spokesperson1.pdf” style=”download”]MNBC Letter of Response Daryl Piper CCMC Official Spokesperson[/ilink]