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The Supreme Court of Canada will decide Friday if it will hear a challenge to the third-party asset-backed commercial paper (ABCP) plan.

Its decision will be issued at about 4:30 p.m. eastern daylight time.

A group of investors who oppose the plan say it’s unfair and want the court to overturn a lower court ruling.

Under the restructuring plan, investors forgo their right to sue anyone involved with the ABCP market except for certain circumstances of fraud.

Canada’s third-party ABCP market has been frozen since August 2007.

Click here to visit our online report, The Paper Chase for additional coverage of this ongoing story.

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Gluskin Sheff Promotes Two

Gluskin Sheff + Associates has announced the appointments of Jeremy Freedman as deputy chief executive officer and Bill Webb as deputy chief investment officer.

Freedman is a director of the company and was previously executive vice-president and chief operating officer. Since 2001, he has had day-to-day operating responsibility for the firm’s operations.

Webb joined Gluskin Sheff in 1995 and has most recently been serving as a vice-president and portfolio manager, focusing on Canadian and U. S. securities.

For more comings and goings within the industry, click here to visit People Watch.

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