Canada New Brunswick can't sue auditor after being left on hook for millions: top court
Sue Bird, Eddy Alvarez named US flagbearers for Tokyo Olympics opening ceremony
Sue Bird is a four-time Olympic gold medalist in women's basketball who will be participating in her fifth Games in Tokyo.It will be the first time that Team USA has had two flag-bearers.
OTTAWA — The Supreme Court of Canada says New Brunswick cannot sue accounting firm Grant Thornton over an allegedly flawed audit which led the province to backstop hefty loans to a company that soon ran into financial trouble.
In a 7-0 decision today, the high court rules the province did not file its claim against Grant Thornton within the allowable time limit.
Events in the case began when the Atcon group of companies secured $50 million in loan guarantees from the province after Grant Thornton carried out an audit of Atcon's financial statements for the fiscal year ending Jan. 31, 2009.
Deputy PM Chrystia Freeland visits Clinic 554 in Fredericton
Freeland met with clinic staff and discussed the services they provide. They also talked about the struggles the clinic has faced with some of its critical services. Clinic 554 provides a variety of health care services to the LGBTQ2 community, including out-of-hospital abortions. The clinic hit a critical point a few years ago and scaled down services. Eventually, its medical director, Dr. Adrain Edgar, put the clinic up for sale after the Higgs government declined to provide out-of-hospital abortions, saying abortion access in New Brunswick was adequate. The regulation is 84-20.
Atcon ran out of working capital four months later, prompting the bank that loaned the money to seek the total amount of the guarantees, which the province paid in early 2010.
A report commissioned by the province from a second auditor found Atcon had considerably overstated its financial position, and the province took court action against Grant Thornton for its alleged negligence on the first audit.
A judge allowed Grant Thornton's motion to halt the action on the basis that more than two years had passed since the province had discovered the relevant facts of its claim, but the decision was overturned by the province's court of appeal.
This report by The Canadian Press was first published July 29, 2021.
The Canadian Press
New Brunswick getting plenty of attention from Ottawa as rumoured federal election looms .
Conservative leader Erin O'Toole spent parts of three days in the province, touring three battleground ridings as parties prepare for a possible federal election.O'Toole has spent parts of three days in New Brunswick, spending time in Saint John, Fredericton and Miramichi. During his Fredericton visit O'Toole announced, in a campaign-style promise, that a Conservative government would ensure the city received a new aquatics centre, a piece of infrastructure near the top of city council's wish-list.