Canadian ABCP Fraud Decision Delayed
An Ontario Superior Court judge has delayed the hearing on the potential for fraud claims going ahead as part of the restructuring of $32bln in frozen non-bank ABCPs until June 3.
The judge’s decision was made to give lawyers more time to get familiar with the suggested conditions of the fraud-shelter proposal, and was extended to the standstill agreement with the banks, which prevents the ABCP holdings from trading. That agreement has been continued till June 4.