Receiver Statement Regarding Bridging Sales Process
23/07/21
TORONTO, July 23, 2021 – PricewaterhouseCoopers Inc. (the “Receiver”), in its capacity as Court-appointed receiver and manager of all of the assets, undertakings and properties of Bridging Finance Inc. (“BFI”), certain of its affiliates and various investment vehicles (the “Bridging Funds”) managed by BFI, today issued the following statement in response to an inaccurate media report that was published yesterday:
“Contrary to a recent media report, the Receiver is not in advanced discussions with any party regarding a potential sale of BFI or the Bridging Funds or their respective assets. As disclosed in the Receiver’s Third Report to the Court dated June 9, 2021, the Receiver will shortly be seeking Court approval for a rigorous sales and investor solicitation process (the “SISP”) to market some or all of the assets of the Bridging Funds and BFI. The Receiver is pleased to have received preliminary indications of interest from a broad range of potentially interested parties, all of whom are expected to be afforced an opportunity to participate in the SISP, subject to qualifying to do so under the SISP rules. The Receiver has been diligently and actively preparing for the SISP, including assembling the information that will be made available to SISP participants who execute confidentiality agreements, so that the SISP can be expeditiously implemented provided it is approved by the Court. The Receiver expects to file materials in Court next week seeking the Court’s approval of the SISP.”
For enquiries or additional information, please contact Bridging Finance.
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