Auditor General Kim MacPherson is in the process of gaining access to the books and records of Atcon which are currently in the custody of the court appointed receiver.
The Liberal government under then Premier Shawn Graham provided loan guarantees to Atcon despite numerous recommendations to reject Atcon’s request for assistance and then compounded the province’s risk of loss by giving up its first security position on Atcon’s assets in favour of Atcon’s bank.
Following Atcon’s bankruptcy the province was left with close to $70 million in unrecovered funds.
The auditor general says she continues to receive numerous calls, letters and emails with unanswered questions which include where did $70 million of taxpayers’ money go?
