09:43:09 EDT Wed 08 Apr 2026
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Globe says OSC hears judge slam Bridging co-owner Ng

2026-04-08 07:44 ET - In the News

The Globe and Mail reports in its Wednesday edition that businessman Gary Ng, a key figure in the Bridging Finance scandal, cited inaccurate legal precedents created by artificial intelligence to draft last-minute legal filings as part of his efforts to drag out his already years-long bankruptcy proceedings, according to an Ontario judge. The Globe's Jameson Berkow writes that associate justice Alexander Ilchenko said Mr. Ng's conduct "was in its totality improper, unnecessary, taken through negligence and in every possible way lengthened unnecessarily the duration of the proceeding." Mr. Ng, who paid $100-million to buy Vancouver investment dealer PI Financial in 2018, was legally declared bankrupt in April, 2023. Since then, Mr. Ng has made no attempt to repay any of his $27.2-million in debts, and his bankruptcy trustee has only been able to recover $131,000. Mr. Ng is also the former co-owner of failed private lender Bridging Finance, which was placed into receivership in 2021. He bought a 50-per-cent stake in Bridging in the summer of 2019 and his companies had received more than $113-million in loans from Bridging funds. Multiple investigations found Mr. Ng lied about the collateral used to obtain those loans.

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