Slabbed explores former Jefferson Parish President Aaron Broussard’s business activities in Nova Scotia Part 2: You own 100% of 2% of nothing.

Trout Point Lodge Owners Vaughn Perret, Danny Abel and Charles Leary

In part 1 of this series I covered the genesis of Trout Point development and the associated fleecing of the ACOA by our three amigos Danny Abel, Vaughn Perret and Charles Leary. The fallout was slow in developing though as certain employees at the ACOA that were involved with the La Farme D’Acadie disaster actually died in the interim and the ACOA was not especially diligent in pursuing repayment of the tax money given to the 3 American partners. When the ACOA filed suit Trout Point did not contest it and a default judgment was entered.  Later the default was set aside and the litigation began a tortuous path in the Canadian court system. It came to a head in 2008.

I highlighted the entire ACOA disaster in several posts but this one has received the most attention and for good reason as the lawsuits involving Leary, Abel and Perret and the  ACOA heated back up and one of the major issues turned on exactly who owned La Ferme D’Acadie.  Let”s review shall we:

In June 1998 the plaintiff, the Atlantic Canada Opportunities Agency, made a “repayable contribution” to a partnership involving the defendants, in order to assist in the startup of a cheesemaking and tourism business. The partnership was subsequently dissolved and incorporated by the former partners, and part of the business was moved to another location. In September 2001, the plaintiff declared that the partnership was in default of the repayable contribution agreement. The plaintiff launched an action in June 2002, the defendants being Mr. Leary, his former partners and the partnership itself.

Like I said one of the sticking points was the disclosure of the owners of La Ferme D’Acadie, which Leary claims is the Dairy Farm portion of the Nova Scotia operations and despite the fact Abel’s name evidently appeared on the paperwork to get the loan Leary was insistent Abel was not involved and the gyrations are simply stunning as we continue from the court opinion: Continue reading “Slabbed explores former Jefferson Parish President Aaron Broussard’s business activities in Nova Scotia Part 2: You own 100% of 2% of nothing.”