Brookfield Properties, a large Canadian firm, announced that its rent collections on commercial properties for April were 15% of the lease terms. Luckily, Brookfield has another company, Brookfield Business Partners, poised to help by buying up the distressed equity of the firms that owe them money. Did the Minister of Finance design CECRA with this outcome in mind, washing out individual investors and small companies and transferring that value into the hands of vulture financiers who hold all the cards?
On May 13th, 2020. See this statement in context.