Yesterday, in Newfoundland and Labrador, Canadian PM Justin Trudeau and German Chancellor Olaf Scholz signed what was initially billed as an “historic accord” but quickly downgraded to a “non-binding agreement” to encourage the production of green hydrogen in Eastern Canada for shipment to Germany, starting in 2025. Per the GlobeRead More

There have been some developments—none that could be considered good—in the Bridging Finance story. As you will recall, the local angle on this tale of a Toronto-based private debt lender in receivership is that Membertou Corporate borrowed $6.8 million from Bridging to invest in Albert Barbusci’s Sydney harbor container terminalRead More

Bridging burning There’s a big update this week on Bridging Finance, the private debt lender that extended Membertou a $6.8 million loan in January 2020 to invest in Novaporte, promoter Albert Barbusci’s proposed Sydney harbor container terminal project (and that took what Barbusci termed a small equity stake of itsRead More

Full disclosure: I thought 2021 was going to be vastly different from 2020 but instead, it unfolded like we’d given 2020 a 12-month extension on its contract. The COVID pandemic continued to loom large in everyone’s lives although, as you’ll see, I modified my response to it. I spent muchRead More

The last three months of 2021 found me, as always, following CBRM happenings — particularly around waterfront development and cruise news — but also looking further afield at stories with local angles or implications. In particular, I got interested in how some Saint Lucians were responding to the arrival ofRead More

I thought it might be time for an update on the Bridging Finance story but in case you’ve forgotten about Bridging, I’ll do a sort-of “previously on” recap. Bridging Finance is a Toronto-based “alternative lender” providing financing to projects considered too risky by traditional banks. It raises money through theRead More

Albert Barbusci and Barry Sheehy, the men behind Sydney Harbour Investment Partners (SHIP) and Novaporte, the Sydney harbor container port project, have splashed out on a new website and what a glossy mix of stock photos and wild claims it is. Before we get into it, though, let’s take aRead More

In the days leading up to the provincial election, all the usual suspects sharpened their pencils, marshaled their tired little troop of “facts” and wrote the editor of the Cape Breton Post in support of Albert Barbusci’s Novaporte project. Port Fest ’21 was kicked off at the end of JulyRead More

Bridging Update In case you’re wondering what’s happening with Bridging Finance Inc (BFI), the private debt firm that lent Membertou First Nation $6.8 million to buy a stake in Albert Barbusci’s Novaporte container terminal project, here’s the latest: David Sharpe, the founder and former CEO of BFI, who was firedRead More

As you may recall, the Spectator reported some weeks ago on the local implications of the scandal rocking Toronto-based private debt firm Bridging Finance Inc (BFI); namely, that Membertou First Nation borrowed $6.8 million from Bridging to finance its purchase of a stake in Novaporte, Albert Barbusci’s imaginary Sydney harborRead More