Archive for November 23rd, 2006
The Pros and Cons of Covenants
23 November 2006I have yet to see a term or operating loan without some kind of covenants. Mind you covenants come in a few different flavours and are not obvious to the naked eye, so let’s start with some background.
There are positive covenants which specify actions that the borrower is expected to do, such as maintaining corporate [...]
Distinctly Confusing Nation Building
23 November 2006About 15 years ago, the government of the day tried to rid itself of the demons of the demise of the Meech Lake Accord with a new effort at Nation Building called the Charlottetown Accord. As a member of Brian Mulroney’s PMO staff at the time, I clearly recall the arguments that were marshalled [...]