Posted AT 11:46 AM EST on 29/02/08
BMO still trying to restructure trusts
Bank of Montreal said Friday it is still in discussions to restructure two troubled asset-backed commercial paper trusts that are facing significant losses.
The bank said that is has a “cure” period of two days to fix the problem after a notice of default is given by the trustee responsible for two trusts known as Sitka and Apex.
It was unclear from the bank's statement whether it had received a default notice.
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