Bombardier’s White Knight Bond Investor Is Canso Investment

Canso Investment Counsel Ltd. is the previously undisclosed bond investor that helped Bombardier Inc. beat a default challenge last year, the investment firm confirmed Friday.

The Richmond Hill, Ontario-based asset manager bought a majority of certain Bombardier notes and agreed to covenant changes that helped the aerospace firm fend off a challenge from other bondholders arguing the company’s asset sales ran afoul of the debt’s terms.

A representative for Canso confirmed the firm is the John Doe named in the lawsuit.

“We believe the plaintiffs’ pursuit of their claims falls below minimum measures of good corporate citizenship,” the ...