Lutheran Church of Canada – DIL Fund

Update: December 16, 2025

INFORMATION REGARDING THE SETTLEMENT OF THE DIL REPRESENTATIVE ACTION AS AGAINST THE REMAINING DEFENDANTS

Sugden McFee & Roos LLP is pleased to announce that the DIL Creditors Subcommittee (including the Plaintiffs in the class proceeding, aka the "DIL Representative Action") have entered into Settlement Agreements with the remaining Defendants in the Action:

With the Defendants Francis Taman, Bishop & McKenzie LLP, a Partnership, John Williams, Ronald Chowne, and Prowse Chowne, a Partnership (the "Second Settling Parties"), a Pierringer Agreement dated March 25, 2025 (the "Second Settlement Agreement");
With the Defendant Concentra Trust/La Societe de Fiducie Concentra (the "Third Settling Party"), a Settlement Agreement dated April 7, 2025 (the "Third Settlement Agreement"); and
With the Defendants Lutheran Church-Canada and Lutheran Church – Canada Financial Ministries (the "Fourth Settling Parties"), a Settlement Agreement dated September 17, 2025 (the "Fourth Settlement Agreement").

Copies of the Settlement Agreements are attached in the Related Documents.

The Settlement Agreements are subject to the approval of Justice Poelman of the Alberta Court of King's Bench. On October 1, 2025, Justice Poelman ordered that the Plaintiffs' application for approval of the Settlement Agreements, partial certification of the DIL Representative Action for the purposes of settlement, and payment of class counsel fees (the "Court Application"), could proceed. That application has now been scheduled to be heard at 1:00 pm (MT) on Friday, January 23, 2026 at the Calgary Courts Centre located at 601 5th Street SW, Calgary AB.

Justice Poelman has approved a form of Combined Hearing Notice (Second, Third and Fourth Settlements) which has been sent to all DIL depositors who have opted in or are deemed to have opted in to the DIL Representative Action. Justice Poelman has also issued a Combined Hearing Notice Approval Order (Second, Third and Fourth Settlements). These documents are attached in the Related Documents. Please review them to learn how you may view and/or participate in the Court Application if you wish to do so.

The Court's approval of all three Settlement Agreements will bring this litigation to an end.

FOR DIL REPRESENTATIVE CLASS MEMBERS ONLY:

It is a term of each the Settlement Agreements that the total amount of the Consideration (money) payable by the Settling Defendants to the DIL depositors who have opted into or are deemed to have opted into the proposed class proceeding shall remain confidential, subject to the discretion of the Court. Accordingly, the amount of the Consideration has been redacted from each of the Settlement Agreements posted to this page.

However, class members are entitled to know the amount of money that will be paid to them if the Settlement Agreements are approved by the Court. To learn your own estimated share of the Consideration payable under the Settlement Agreements (subject to the approval of the Settlement Agreements by the Court, and which may change based upon order(s) made by the Court at the Court Application), please access the confidential Settlement Calculator using the personalized passcode provided to you in the Hearing Notice which has been emailed or mailed to you at your last known address provided to the Monitor in the CCAA Proceedings. This information is confidential and should not be divulged to anyone other than those assisting you with computer access and/or your professional advisors on a confidential basis.

SUBMISSION

Please enter your name and given unique ID to access your estimated proportion of the recovery.

Please direct any questions to Class Counsel Errin Poyner at epoyner@smrlaw.ca or Settlement Administrator Rick Anderson at rick.anderson@mnp.ca