Thunder Bay – Finlandia Association Motion To Liquidate

Finlandia Association members express concerns over motion to liquidate

According to information shared by association members with Dougall Media, the association has an outstanding mortgage debt of $295,000 with the Royal Bank of Canada.

Liberal MPP Michael Gravelle sent a letter to the RBC ombudsman, as well as several provincial and federal ministers, expressing concerns over the situation involving the Finlandia Association. The letter also states the Finlandia Association qualified for the Canada Emergency Business Account funds as part of the COVID-19 relief efforts.

“My understanding is the association did apply for a federal loan under some of the new COVID-19 rules and were accepted by the government but were turned down by their financial institution,” Gravelle said.

“I did get a response from the bank who said they would be reviewing the matter. That gave me some encouragement, but I haven’t heard anything since then. I did write them twice. The challenge for me is I don’t have any authority to tell what the banks what to do.”

RBC was contacted to provide clarification on the the debt. A spokesperson said the matter is being looked into but did not provide comment. – tbnewswatch

read full article here

…“My understanding is the association did apply for a federal loan under some of the new COVID-19 rules and were accepted by the government but were turned down by their financial institution,”…

Fuck the RBC!

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