Tuesday, December 11, 2007

 

Bankruptcy considered -- to facilitate sale?

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From BILL TIELEMAN:

Basi-Virk defence alleges BC Liberals considered putting BC Rail into bankruptcy to facilitate sale; Deputy Minister Chris Trumpy in conflict?

Defence lawyers in the Basi-Virk case made serious allegations against the provincial government in BC Supreme Court this morning, disclosing that consideration was given to putting BC Rail into bankruptcy and insolvency protection to facilitate its privatization.

The defence also alleged that Chris Trumpy, then Deputy Minister of Revenue to then-Finance Minister Gary Collins, was in a conflict of interest situation because of his multiple roles in both the sale of BC Rail and as Chair of the BC Investment Management Corporation, which held over $360 million in CN Rail shares at the time.

And defence counsel criticized BC government attempts to block disclosure of 17 documents to the accused based on solicitor-client privilege by revealing they had previously received two of the documents through a Freedom Of Information request filed separately two years ago.

Michael Bolton, lawyer for David Basi, told Justice Elizabeth Bennett that document never disclosed previously show the BC Liberals had an option to put BC Rail into bankruptcy and insolvency protection through the federal Creditors Companies Arrangement Act.

"Bankruptcy for BC Rail was one of the things the government was looking at to facilitate the sale of the freight division," Bolton said.

Kevin McCullough, lawyer for Bob Virk, said Trumpy was placed on the BC Rail Evaluation Committee and was appointed a chief negotiator for the government at the same time he chaired the BCIMC, which invests public pension plan funds in a variety of corporations.

More at Bill's blog later today.



Comments:
Does conspiracy to commit fraud ring any bells here? Because I will now be calling this the fraudulant sale of BC Rail. Not the questionable,or the tainted, or the illegal sale of our railway.
 
The latest from CP.....

"The Freedom-of-Information documents McCullough obtained include a Dec. 18, 2003, e-mail from Trumpy to Virk and others on the B.C. Rail evaluation team and a Dec. 19, 2003, e-mail to Trumpy from a lawyer titled "Advice to Trumpy re conflict."

To which, if true, I say, wow!

Why?

Because it would very strongly suggest that they knew they were exposed on this right from the get go.

(ie. 9 days BEFORE the Ledge Raids even happened)

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Coleman knew !?#*
 
It was Coleman who 'closed ' an investigation in October'04. For fear of a backlash...Many, call this FRAUD! Many more people out there know the truth! Which BC rail was a front, for a covert international investigation into O/C in beautiful British Columbia that involves police curruption, political interference and terrorism! Which I suspect was a cover up story by police to throw the investigation off of them! It's time for the truth to be told!LET'S GET ON WITH IT! PLEEAASSEE...
 
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