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Port Mann P3 scuttled by Victoria over lack of private finance
The B.C. Liberal government has ditched plans to build the new Port Mann bridge crossing through a so-called public-private partnership (P3) and will now finance the project directly. That's a dramatic reversal for Victoria which just a few weeks ago announced that it would... Britain's PFI projects may look for huge government bailout
Public finance initiative (PFI) projects in Britain may be looking for a multi-billion pound bailout from government as funding sources dry up in the wake of the global economic crisis. Some think that when the... Port Mann bridge partner reports massive losses on toll roads
The key investor behind the public-private partnership building and operating the new ten-lane Port Mann toll bridge today reported a loss of over $1 billion (CAD). Macquarie Group's infrastructure arm took the bath on its toll road assets around the world. " Macquarie... B.C. P3 lender burning through government loan guarantees
The Belgian-French bank that's supplying the financing to several public-private partnership (P3) projects in British Columbia has exhausted half of the government guarantees it received in a September bailout.... Embattled B.C. P3 lender to be cut loose by German parent
Depfa Bank PLC, a key source of credit to several British Columbia public-private partnership projects and a financial sink hole for its German parent, will be cut loose according to media sources. The... P3s cost more, says prominent B.C. forensic accountant
A new study by B.C.'s best-known forensic accountant concludes that so-called public-private partnerships (P3s) for public projects cost more than if they were financed directly by government. The study also finds... B.C. government bails out Port Mann P3
There's a lot of questions being raised about the future of using so-called public-private partnerships to provide major infrastructure projects like the Port Mann Bridge and Highway 1 expansion. Just yesterday,... Schwarzenegger's P3 schemes rapped by California treasurer
In an op-ed published in today's Sacramento Bee, California's state treasurer takes on proponents of public-private partnerships and makes the case for funding public infrastructure projects by issuing municipal... World credit crunch makes local P3 projects risky propositions
The Vancouver Sun has published a major feature that raises serious questions about the financial health of privately-financed infrastructure projects in British Columbia.The investigative report comes a day... BC P3 banker embroiled in Italian bond scandal
Depfa Bank, a major lender to public infrastructure projects in British Columbia, has found itself embroiled in a major bond scandal involving Italian local governments, according to The Telegraph newspaper. The... Claimants sought for class action against bank linked to BC P3s
A Frankfurt-based law firm is warning investors in Hypo Real Estate (HRE) that time may be running out to make claims for damages against the troubled German lender.The firm Winheller Attorneys says that... B.C. P3 lender posts largest 2008 loss on key European index
Dexia, the Belgian-French bank that's bankrolling three major infrastructure projects in British Columbia, saw its stock value plummet by more than 81 per cent in 2008. It was the largest loss by a company listed... Insider trading investigated at bank linked to BC P3s
Hypo Real Estate (HRE), the real estate and public finance bank linked to several high profile government projects in British Columbia, is being investigated by German prosecutors for suspicion of insider trading.... European bank funding BC P3s may be broken up by new owners
Dexia, the Belgian-French bank that's involved in several public-private partnership schemes in British Columbia, may be broken up by the governments who bailed it out. The bank is providing financing for the Royal Jubilee Hospital expansion in Victoria, a new Surrey... B.C. P3 banker sued over alleged lack of financial disclosure
Investors are suing the German bank that's financing two hospital projects in British Columbia. Hypo Real Estate clients are alleging that the bank failed to disclose in a timely manner its exposure to the market... NowPublic on Facebook
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