OTCPK:TFCCF - Post by User
Post by
Hasselon May 11, 2016 8:10pm
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Post# 24864124
Last Sentence, let's hope it's true
Last Sentence, let's hope it's trueAt March 31, 2016, loan and mortgage investment totaling $12,863,396 (including interest receivable on these loans totalling $683,961) to the Borrower and its affiliates, are in arrears, of which $3,030,657 including interest payable have been syndicated. The foreclosure/power of sale process has commenced and is proceeding on these loans to enforce the security. Subsequent to March 31, 2016, certain affiliates of the Borrower announced restructuring proceedings under the Bankruptcy and Insolvency Act (Canada). Based on the most recent valuations of the underlying assets, the Company has not identified any loans in arrears for which a loss provision should be made.