Creditors and investors will have the opportunity to vote on the proposed redistribution of what assets Gestion de Capital Triglobal Inc. has left at meeting in Montreal on Tuesday, August 26.

The biggest question is whether claims by Triglobal clients for their losses in offshore funds Tricap Futures Fund and Ivest Fund Ltd. in the Bahamas and Focus Management Ltd. in the Cayman Islands will be valid. More then $86 million disappeared into the three offshore funds.

There is very little of Triglobal left for distribution, with only $860,000 in assets that can be realized. This amount covers 46% of Triglobal’s accrued debt, after the fees of the provisional administration, excluding the claims of Triglobal clients who invested in the offshore funds.

As it has been proposed, the fees of the administration will be paid, as will Crown, secured and preferred creditors within 30 days, other claims will share a lump sum of $150,000 dollars for an estimated distribution of between 16% and 30%. Creditors B — which is to say claims for damages from investing in Focus or Ivest — will see the balance “used to initiate analyses, investigations or proceedings.”

If the claims of Focus, Ivest and Tricap investors are deemed valid, Triglobal assets cover less than 1% of the debt.

Tuesday’s vote is the culmination of a long investigation. Last year Triglobal was listed among the most profitable firms in Canada in Canadian Business, but by the fall of 2007 it was hemorrhaging advisors and by Christmas the Quebec government had stepped in and named Jean Robillard, of Raymond Chabot Grant Thornton as provisional admininstrator.

Robillard brokered a deal with transferred most of Triglobal sales force to Groupe Promutuel, and Triglobbal effectively ceased operations in February 2008. It was not until the summer that the magnitude to the losses in Ivest, Focus, and Tricap came to light.

Public documents, including the notice of proposal to creditors relating to the case are available at http://www.raymondchabot.com/triglobal