Bridging Finance- Exciting Progress for the Bagholder

Bridging Finance: Rates of recovery will be low

Additional information for Bridging Finance bagholders: TD advisors are the biggest losers, with $400 million in client funds reportedly frozen. Mark Cheevers, a Toronto-based advisor, may have approximately $90 million in his book. His pitch is “institutional-quality opportunities for retail investors.”

Bridging Finance: Rates of recovery will be low

Richardson GMP is also rumoured to be a major holder, with over $100 million worth of shares. Desjardins is yet another major victim. RBC never authorised the funds on its platform, however. The consensus among experts is that recovery rates should be below 50%. I have observed a tally of eight loans totaling approximately $800 million, all of which are impaired and the majority of which were to insolvent businesses. At the end of the year, total assets were $1,8 billion. And that’s just the beginning. Read more material on-

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