Purdy Crawford is the Chairman of the Pan Canadian Investors Committee who together with the international banks negotiated a $32 billion Canadian ABCP Restructuring that was administered in the Canadian bankruptcy court. Canadian ABCP retail noteholders were extremely angry about having their lifesavings taken and not having received any cash settlement.
After a stenuous grassroots fight using the powers of democracy and the internet, the families in this video amongst 1770 families in total got their lifesavings back from their securities dealers in a January 2009 cash settlement. The fight continues for at least three dozen families the securities dealers refused to reach full cash settlement with because they owned more than $1 million of this toxic ABCP. If you're high net worth do not invest in Canadian issuers and savings products.
dianeurquhart 3 years ago