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The allegation of tax fraud, which some people in the industry said could result in repayments of about 10 million Canadian dollars, is under investigation by the Royal Canadian Mounted Police.
The Bank said the decline in housing equity withdrawal was not associated with an increase in repayments of secured debt, but lower sales and a reduction in remortgage activity.
Last October Sumitomo Mitsui made the last installment of $15 billion in repayments of the emergency public funds it got in 1998.
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ENRC has submitted a counter-claim against Zamin, arguing that it is owed $65m in repayment of a loan, taking its full claim to $115m.
Mr. Hennigan said CIBC received $22 million of the $200 million bond issue, including $6 million in fees and $15 million in repayment of a loan.
And it has begun to "cross collateralize" its loans -- allowing it to take collateral from one loan in repayment of another to the same borrower.
In the 1850s two merchants to whom the government had granted the area in repayment of bonds gathered together young families and offered them plots in return for communal labour.
Hardly cause for celebration; but then in Greek mythology, autumn begins when the goddess Persephone returns to the underworld to live with her kidnapper, Hades — in repayment of the six pomegranate seeds she illicitly ate: a harsh balancing.
He said options included a limited slowdown in repayment of the Shoreham debt, the use of a portion of a $250 million rate stabilization fund and the use of $25 to $30 million reflecting low fuel costs in 1998.
The bondholders, seeking to ensure that bank creditors do not get priority over them in repayment of debts, retained the law firm of Fried, Frank, Harris, Shriver & Jacobson, the spokeswoman confirmed.
How can debt be repaid and what are the priorities in repayment of debt? 3. How are earnings allocated?
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