Government Relations and Ethics Bulletin

December 2008 Fasken Martineau DuMoulin LLP

QUÉBEC: ONE BILLION DOLLAR WORKING CAPITAL AND INVESTMENT PROGRAM FOR STABILIZING SUCCESSFUL BUSINESSES AND AIDING RECOVERY

Jean Masson, Montréal

Jean Masson dedicates a considerable portion of his practice to the domain infrastructures and government relations. He co- directed the Fasken Martineau team appointed by the Québec Ministry of Transport and PPP-Québec for the realization, using a PPP approach, of the design, construction, financing and maintenance of the completion of Autoroute 25 in the Mont- real region. This public private partnership project, the first of its kind to be completed in Québec, earned the “2007 P3 North American Deal of the Year” award attributed by the prestigious Project Finance Magazine. Involved in the Québec Liberal party, he notably directed Premier Jean Charest’s electoral campaign tour in 1998, 2003, 2007 and 2008.

On December 17, the Québec Minister of with the financial sector and under certain Economic Development, Innovation and conditions, the Renfort program will help Export Trade, Raymond Bachand, an- businesses meet their needs for working nounced the details of a working capital capital, acquire equipment and refinance and investment program for business sta- their debt. Amounts exceeding $15 mil- bilization and recovery. lion will be approved by the government.

The Renfort program will inject a billion Companies are facing lower demand from dollars into business financing in terms of the United States and Europe, volatility in loans and loan guarantees. Investissement the value of the Canadian dollar as well as Vancouver Québec will provide up to $250 million in raw material prices and, although our fi- direct financing in the form of loans. Loan nancial sector is less affected, more diffi- Calgary guarantees will be provided for a maxi- cult access to credit. Toronto mum of $750 million of loans granted by financial institutions. Eligibility criteria and the terms and con- Ottawa ditions of the Renfort program can be The program is geared mainly to success- found at: http://www.investquebec.com/ Montréal ful companies, especially SMBs, that are en/index.aspx?page=2336 experiencing temporary liquidity prob- Québec City lems due essentially to the tighter credit Jean Masson conditions in Québec prompted by the London 514 397 7493 current economic and financial situation. [email protected] Johannesburg The loans and loan guarantees will range www.fasken.com from $250,000 to $15 million. Working Fasken Martineau DuMoulin LLP 2 Government Relations and Ethics Bulletin

For more information, please contact one of the fol- Robert J. Buchan, Ottawa lowing members of our Government Relations and 613 236 3882 Ethics practice group: [email protected]

David K. Wilson, Ottawa William Duvall, Vancouver 613 236 3882 604 631 4944 [email protected] [email protected]

Jean Masson, Montréal R. Greg Powers Q.C., Calgary 514 397 7493 403 261 6148 [email protected] [email protected]

Pierre B. Meunier, Montréal Daniel Brock, Toronto 514 397 4380 416 865 4513 [email protected] Ottawa

613 236 3882 Jean M. Gagné, Québec City [email protected] 418 640 2010 [email protected]

The texts included in this collection are intended to provide general comments on Government Relations and Ethics. They reflect the point of view of their respective author and are not opinions expressed on behalf of Fasken Martineau DuMoulin LLP or other member corporations. These texts are not intended to provide legal advice. Therefore, readers should seek out advice on issues specific to them before acting on any information set out in these texts. We would be pleased to provide additional information on request.

Vancouver Calgary Toronto Ottawa 604 631 3131 403 261 5350 416 366 8381 613 236 3882 [email protected] [email protected] [email protected] [email protected] Montréal Québec City London Johannesburg 514 397 7400 418 640 2000 44 20 7929 2894 27 11 685 0800 montreal@fasken.com [email protected] [email protected] [email protected]