Posted AT 4:39 PM EST on 02/09/08
ABCP challengers file arguments with court
Corporate challengers to the $32-billion restructuring plan for the asset-backed commercial paper market have filed their arguments with the Supreme Court of Canada, arguing the high court needs to hear the case because it is of national importance.
The challengers are upset that the plan virtually takes away the right to sue the financial institutions that sold the paper, under the terms of legal releases.
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