08 January 2009

Foggy Bottom probing expropriation; other diplomatic inquiries to follow?

According to The Telegram, American diplomatic officials have inquired with the Government of Newfoundland and Labrador about Bill 75.  That’s the expropriation bill rammed through the legislature before Christmas with virtually no debate.

No details on the inquiries have been released.

While attention has focused on AbitibiBowater – the public target of the bill - Bill 75 also expropriated assets belonging to  Manulife, Standard Life, Industrial Alliance, Sun Life, Fortis Generation and Enel. 

Enel is an Italian energy company represented in the Star Lake project by its subsidiary CHI. No word on whether Italian diplomats have also inquired about the expropriation.

Standard Life Canada is the Canadian division of the Scottish international financial services group. No word on any diplomatic inquires from the United Kingdom High Commission.

Fortis Generation is a subsidiary of Fortis, Inc, the Newfoundland-based energy company with interests in Canada, the United States and Central America.

Manulife and Sun Life are Canadian financial services companies.