Legal problems facing the European subsidiary of Maple Financial Group is creating uncertainty for two of its largest investors — the Ontario Teachers’ Pension Plan and the National Bank of Canada.
National Bank (TSX:NA) says its investment — which had a carrying value of $165 million as of Aug. 31 — was at risk for big losses because of allegations of tax irregularities between 2006 and 2010 in Germany against Maple Bank GmbH.
“Given the seriousness of the reported allegations and the actions which may be taken by German regulatory authorities . . .
ROSS MAROWITS – CANADIAN PRESS – OCTOBER 2, 2015.
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