Investing

Walton International Bankruptcy

  • Last Updated:
  • Jan 9th, 2019 9:14 pm
[OP]
Newbie
Aug 29, 2012
97 posts
2 upvotes
Whitby

Walton International Bankruptcy

Has anyone here invested in Walton International projects in the past?
14 replies
Deal Fanatic
Jul 1, 2007
8068 posts
902 upvotes
Thankfully no. I wonder what happens, do all investors lose everything?
Money Smarts Blog wrote:
Nov 29th, 2010 11:18 am
I agree with the previous posters, especially Thalo. {And} Thalo's advice is spot on.
Member
Feb 13, 2008
254 posts
74 upvotes
Edmonton, AB
I never heard of Walton. Going to Google it now.
I add water to my gas tank to improve mileage. 😄
[OP]
Newbie
Aug 29, 2012
97 posts
2 upvotes
Whitby
Walton International's Canadian operations declared bankruptcy in 2017. At that time, they stated that only certain projects were seeking bankruptcy protection, while others (mainly US) projects would continue as normal.

However, Walton is grouping all projects together (bankrupt + non-bankrupt one) and restructuring the shareholders' ownership of the company.

The reason for my post was to see if anyone is holding any Walton shares to get their opinion on what's transpired to this point.
Deal Addict
Jan 27, 2015
1037 posts
453 upvotes
Edmonton, AB
When I didn't know any better, I invested $9,500 in LRSP through Walton (North Carolina). I was informed that their projects increase in value at roughly 15% per year, BUT it is risky and that there are no guarantees.

I took the bait.

That was summer 2012. Right now, the value of my portfolio is around $6K due to the bankruptcy. If I can get my original amount back then I'd think of it as a huge lesson learned. In the interim, I'll let it ride out.

Had I invested the same amount in low-cost index funds, the investment value would be over $20K.
Deal Fanatic
Jul 1, 2007
8068 posts
902 upvotes
FinancialFreedom wrote:
Mar 17th, 2018 2:17 pm
When I didn't know any better, I invested $9,500 in LRSP through Walton (North Carolina). I was informed that their projects increase in value at roughly 15% per year, BUT it is risky and that there are no guarantees.

I took the bait.

That was summer 2012. Right now, the value of my portfolio is around $6K due to the bankruptcy. If I can get my original amount back then I'd think of it as a huge lesson learned. In the interim, I'll let it ride out.

Had I invested the same amount in low-cost index funds, the investment value would be over $20K.
That right there is a lesson (thankfully not too expensive) that everyone can learn from. It's not just Walton, but the many other "alternative" investments out there being hawked by various salespeople and "investment advisors". They always look good. Sometimes they're too good to be true (and on rare occasions turn out to be total scams, causing people to lose everything), but even in the case of something like Walton's investments: they tend to be sold as something less risky than stocks but with much better return potential than GICs. The risk is sort of hidden, or at least hard to determine when you're getting in.

Best thing anyone can learn from this is just STAY AWAY from any and all investments like this, no matter what company is selling them.

For your long term goals, either own a diverse basket of stocks of profitable companies or reasonably priced mutual funds or ETFs. That's all you need. None of that fancy crap offering you 15% or whatever.
Money Smarts Blog wrote:
Nov 29th, 2010 11:18 am
I agree with the previous posters, especially Thalo. {And} Thalo's advice is spot on.
Newbie
Jun 17, 2012
2 posts
Yes
We are a victim with Walton pls send me your contact info if you want to start a Class Action suit.
I am working both US and the Canadian Law.

We are ready to hold them accountable if we can pull our resources and proof together thank you!

JD Young
youngintl@gmail.com
Newbie
Sep 13, 2018
1 posts
Yes, a significant investment. Would consider participating in class action if feasible.
Member
Aug 17, 2013
328 posts
158 upvotes
Toronto
youngintl wrote:
Sep 6th, 2018 2:26 pm
Yes
We are a victim with Walton pls send me your contact info if you want to start a Class Action suit.
I am working both US and the Canadian Law.

We are ready to hold them accountable if we can pull our resources and proof together thank you!

JD Young
youngintl@gmail.com
Unless they committed fraud, what were you expecting? There's a reason why GIC's are only paying out 2.5% when they're safe.

It would be like me starting a class action suit on my canibus investments for any loss.

When you invest in a private company, there is a huge risk.
Newbie
Oct 18, 2018
1 posts
I work with Peachtree and we looking to buy into the Walton REITS but do not have access to the information shareholders have so that we can price our tender. Can you assist?

Eric
Newbie
Oct 21, 2018
1 posts
I am a victim of Walton as well. The re-org allowed by a tribunal is underway but I have no confidence in this company. If there was a class act I would be interested in hearing about it.
Newbie
Jun 7, 2006
67 posts
My family and I are victoms as well. Those dishonest agents just want to get the big fat commissions and sold us the 8% bonds yet the company was already under water back then. They are like ponzi schemes as I read some articles online.

Anyone got any update from EY?
Newbie
Jan 8, 2019
1 posts
We are also wanting to get an update about our investment
Anyone knows what is happening?

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