City must pay $16M to original Bixi operators
Appeal court has ruled that the city has to pay $16 million to the firm that operated Bixi before 2014.
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Kate
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Ephraim 08:00 on 2019-05-08 Permalink
Not to SVLC which was the unit of the Board of Trade of Metropolitain Montreal (now the Chamber of Commerce of Metropolitan Montreal, since they want to hide!) that ripped off the city in regards to BIXI in the first place, but to the creditors of SVLC, through the bankruptcy, which may compromise other lenders, but also suppliers… but could also possibly be private lenders including members of the board of trade or even themselves if they set themselves up as lenders.
The reasoning is simple, the city of Montreal wasn’t legally entitled to lend money to a private enterprise. Not to mention they aren’t supposed to be in “for profit” businesses, which at the time was the claim of SVLC (aka the BoToMM, or if you prefer my term for them… the bastards that constantly rip off the city of Montreal… Stationment Montreal, Tourisme Montreal.)