PwC Gets Green Light From Ontario Court to Liquidate Bridging

An Ontario court cleared the way for a receiver to wind up bankrupt lender Bridging Finance Inc., rejecting an attempt by investors to stall the liquidation.

A group of Bridging unitholders had asked the Ontario Superior Court to allow more time to consider proposals to sell or reorganize the funds. But Justice Geoffrey Morawetz turned down their request and said PriceWaterhouseCoopers can cease its attempts to find a buyer, according to court documents posted Tuesday.

Investors in Bridging’s private-credit funds face losses of more than $900 million after the firm was seized by a court order last spring. ...