![]() ![]() Sharpe closed his personal account just days after commission enforcement staff questioned him about his relationship with McCoshen. Millions of dollars pledged for A2A rail also went to McCoshen's personal bank account and to an apparently unrelated company controlled by him. The founder's name has been removed from A2A Rail's website.Īccording to the commission's investigation, one of McCoshen's companies made $19.5 million in undisclosed payments to the personal chequing account of Bridging's CEO, David Sharpe, during the same period that Bridging loaned more than $100 million to McCoshen's other companies. Questions surround company's founderĪ2A Rail said the refinancing process will not involve company founder Sean McCoshen and instead will be driven by a third-party consultant.Īn investigation by the Ontario Securities Commission found numerous financial irregularities surrounding McCoshen's dealings with Bridging. To protect against the company's assets being liquidated, A2A obtained creditor protection late Friday," the company said in a release Wednesday. ![]() "Earlier this month, the court appointed receiver of Bridging Finance, PriceWaterhouseCoopers, called a $149-million loan made to A2A by Bridging Finance. The Calgary-based company said the protection will allow it to pursue a court-supervised sale or refinancing of the development stage of the project, after its main lender, Bridging Finance, was placed in receivership in April. A2A Rail, the corporation pledging to build a $22-billion freight railway connecting Alaska and Alberta, has filed for creditor protection. ![]()
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