Banks' shareholders have interest in the entire economy: Scotia Board of Directors critical of Scotia bank employees misconduct in Canwest CCRR S.36 filing
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[Acknowledgement that a corrupt newspaper disclosure network, lowers share values. Selling Canada's newspapers into a fair disclosure matrix is a boom for the stock market, and helps guarantee that bank shares increasing values are worth what they are worth.]
[Voluntary 25 million interest payment to the 13.5 bonds made during this time, ahead of these required interest payments. Note some lines of credit not used up, and Canwest has hundred million in cash at the end of Aug 09.]
"The Bank of Nova Scotia as administrative agent, a syndicate of secured lenders (“the LP Secured Lenders”), and the predecessors of CCI, CPI and CBI as guarantors. The Limited Partnership also failed to make principal, interest and fee payments due pursuant to this credit agreement on June 21, June 22, July 21, July 22 and August 21, 2009."
[Scotia bank actual line of credit is marginal in size, Scotia bank acting as cover for foreign lenders. Concern the new financing for Canwest assets not from Canadian banks. Scotia part of misinform for loans to avoid Canadian income taxes.]
"The Bank of Nova Scotia as administrative agent for a syndicate of lenders, and others, certain subordinated lenders agreed to provide the Limited Partnership with access to a term credit facility of up to $75 million. CCI, CPI, and CBI are guarantors. This facility is unsecured, guaranteed on an unsecured basis and currently fully drawn."
