Skip to content
Subscriber Only

Bridging Finance Investors Face $941 Million Loss After Failed Sales Bid

  • Recoveries to range from 34% to 42% of assets, PwC says
  • Private lender was accused of misappropriation of funds

Investors in Bridging Finance Inc.’s funds are expected to lose at least C$1.2 billion ($941 million) under a proposal to liquidate the assets instead of finding a buyer who can keep the firm or the portfolios intact. 

PricewaterhouseCoopers, which took control of Bridging last year at the request of the Ontario Securities Commission, said in a court filing that it estimates investors will recover 34% and 42% of the funds’ reported net asset value on March 31, 2021.