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(Justin Skinner/Getty Images/iStockphoto)

Retail investors nearly wiped out as REIT saga ends

The sad, drawn out saga of League Assets Corp.’s demise is finally nearing its end, and the result is rather ugly for thousands of Canadian investors.

League, which operated IGW REIT, one of the country’s largest private real estate investment trusts, filed for bankruptcy protection in October and its inner workings were so convoluted that it took eight months to determine where all its money went, and how much investors would get back.