Evidence of meeting #29 for Transport, Infrastructure and Communities in the 45th Parliament, 1st session. (The original version is on Parliament’s site, as are the minutes.) The winning word was projects.
A video is available from Parliament.
Conservative
Philip Lawrence Conservative Northumberland—Clarke, ON
No. Were they the first, yes or no, sir?
This is Parliament. You don't have the ability not to answer.
Managing Director, Slate Asset Management
As I was attempting to explain, financial close is reached when all project-based financing—
Conservative
Philip Lawrence Conservative Northumberland—Clarke, ON
Were they the first one to agree to lend to the project?
Managing Director, Slate Asset Management
As I was attempting to answer, project-based financing takes place when there's a single financial close, and all documents are executed simultaneously, including the different—
Conservative
Philip Lawrence Conservative Northumberland—Clarke, ON
You are being incredibly evasive. You're not just offending me; you're also offending millions of Canadians. You received over $200 million from Canadian taxpayers, and you can't answer a simple question. This is disrespectful, sir.
Mr. Cory indicated in his testimony that the repayment terms were flexible. In other words, if you didn't hit certain revenue targets, you wouldn't have to repay it. Is that true?
Managing Director, Slate Asset Management
I don't recall Mr. Cory's testimony being exactly as you portrayed it just now.
As I was attempting to explain, all financing is closed simultaneously—
Conservative
Philip Lawrence Conservative Northumberland—Clarke, ON
Mr. Rodgers, that's not the question. Is there forgiveness built in to the repayment terms? In other words, if certain revenue targets are not hit, you don't have to pay back the CIB loan. Is that correct?
Managing Director, Slate Asset Management
There are certain characteristics associated with a Canada Infrastructure Bank loan that are commercially confidential.
Conservative
Managing Director, Slate Asset Management
I've answered that question to the best of my ability.
Conservative
Philip Lawrence Conservative Northumberland—Clarke, ON
How is it commercially sensitive? Isn't it, in fact, politically sensitive? You're afraid to admit that this loan will likely be forgiven, and that there will be a tremendous windfall for Liberal insiders like Mr. Roscoe—
Liberal
The Chair Liberal Peter Schiefke
Mr. Lawrence, I'm going to stop the time at two minutes and 20 seconds to ensure that you have the time.
Conservative
Philip Lawrence Conservative Northumberland—Clarke, ON
I'm not surprised that they're trying to cover it up.
Liberal
Chris d'Entremont Liberal Acadie—Annapolis, NS
We should be letting the witness answer the question to the best of their ability.
Conservative
Philip Lawrence Conservative Northumberland—Clarke, ON
This is not a valid point of order.
Cite the rule. You are a former speaker. Cite the rule. You don't know. There is no rule.
Liberal
Chris d'Entremont Liberal Acadie—Annapolis, NS
If the member wants to continue to put words in all the members' mouths, I would suggest that he—
Conservative
Liberal
The Chair Liberal Peter Schiefke
Colleagues, I'm going to let Mr. d'Entremont finish his point of order, and then I'll make a ruling on the point of order, so please....
Liberal
Chris d'Entremont Liberal Acadie—Annapolis, NS
We should allow the witness to answer to the best of their ability, and not badger—
Liberal
The Chair Liberal Peter Schiefke
Thank you, Mr. d'Entremont.
I ask all members to ensure that we allow the witnesses to respond to the questions, if for no other reason than to ensure that we're not talking over each other for the benefit of our interpreters.
I stopped the time, Mr. Lawrence. I want to respect that. You have two minutes and 20 seconds, sir.
Conservative
Philip Lawrence Conservative Northumberland—Clarke, ON
Mr. Rodgers, there is not a commercial sensitivity that—
