December 03, 2008

Mutiny on the bounty scratch that Mutiny in Canada

Its time t' take o'er this government by force Ya lily livered scurvy cur! This be a mutiny Ya bilge rat whut deserves the black spot! Its goin' t' be a rough storm ahead
Ya horn swogglin' scurvy cur!  


By Melvin J. Howard

 UPDATE : The Prime Minister of Canada has shut down Parliament until January 26. If there has not been a date set for consultations or a settlement is not reached at the end of that time. We will submit our claim to Arbitration under Article 1120 Chapter 11 Arbitration Procedures.


OTTAWA - Prime Minister Stephen Harper shut down Parliament on Thursday in an unprecedented attempt to keep his government in power, fending off a no-confidence vote he was all but certain to lose. 

Less than two months after winning re-election, Harper successfully asked the unelected representative of the head of state for the authority to close down Parliament until Jan. 26, hoping to buy enough time to develop a stimulus package that could prop up the economy. 


Article 1120: Submission of a Claim to Arbitration

1. Except as provided in Annex 1120.1, and provided that six months have elapsed since the events giving rise to a claim, a disputing investor may submit the claim to arbitration under:

(a) the ICSID Convention, provided that both the disputing Party and the Party of the investor are parties to the Convention;

(b) the Additional Facility Rules of ICSID, provided that either the disputing Party or the Party of the investor, but not both is a party to the ICSID Convention; or

(c) the UNCITRAL Arbitration Rules.

2. The applicable arbitration rules shall govern the arbitration except to the extent modified by this Section.

Well Canada seems to be doing some infighting which could form a new Government this after an election held 2 months ago. Can anyone understand now the problems I faced building the largest surgical center in Canada. The constant bickering and fighting sends mixed signals not only to the markets. But also investors, physicians, vendors, investment banks etc. As a result I have sent a letter to the Government Of Canada requesting that Negotiations and Consultations take place as soon as possible under Article 1118 of NAFTA. As I am not sure who will be the sitting Government I want to get this process underway. To tell you the truth I am a little confused about the political system in Canada I thought if you win the election you win the election apparently not so. As far as I am concerned I don’t care who the sitting government is just get them in front of me. As told by the Wallstreet Journal it could be a long dragged out fight.


By NIRMALA MENON Wallstreet Journal


OTTAWA -- Canada's minority Conservative government, re-elected less than two months ago, could be toppled in the next few days if Prime Minister Stephen Harper doesn't make changes to an economic statement that has all three opposition parties up in arms. Canadian Finance Minister Jim Flaherty on Friday offered a series of spending cuts to keep the budget in surplus. Two of the three Canadian opposition parties are negotiating to form a coalition government, which the third has agreed to support, if the government is defeated in a confidence vote in the House of Commons on the government's updated budget forecast, which the opposition parties said doesn't address the financial crisis. The plan also would eliminate some subsidies to political parties.

Former Liberal Prime Minister Jean Chrétien and Ed Broadbent, former leader of the New Democratic Party, are brokering a behind-the-scenes deal, according to a person familiar with the matter. The two parties plan to ask Governor General Michaëlle Jean to allow them to govern as a coalition if the Conservative government is defeated. The Quebec-based separatist Bloc Québécois will support them, but won't be part of a coalition. Finance Minister Jim Flaherty's economic and fiscal update, delivered on Thursday, contained an array of spending cuts to keep the budget in surplus. The projected surplus for the current fiscal year ending in March 2009 was pared to 800 million Canadian dollars (US$650 million) from C$2.3 billion predicted in the C$241.9 billion budget last February. In the following two fiscal years, the surplus is now expected to be just C$100 million each year, down from C$1.3 billion and C$3.1 billion respectively.The plan didn't contain measures to stimulate an economy that Mr. Flaherty acknowledged was in a recession. The government said it was reviewing spending to save C$4.3 billion in the next fiscal year and as much as C$11.3 billion over four years after that.The opposition parties said the plan fails to address the growing financial crisis in Canada. But their ire was especially stoked by a controversial plan to eliminate about C$30 million a year in taxpayer subsidies to political parties. Although the Conservatives stand to lose the most, they attract more contributions from individual donors, unlike their opposition rivals that depend to a greater degree on the subsidies.

A spokesman for Mr. Harper said Friday that the prime minister is prepared to stand his ground on the political subsidy issue.