Basi/Virk/Basi are on trial because of what they knew, and passed onto outsiders.
Why isn't someone from within the Executive Council, who told CN Rail it had won, on trial as well?
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INDEPTH: CN
Canadian National: From coast to coast to coast
Justin Thompson, CBC News Online | Updated November 25, 2003
Timeline
Nov. 25, 2003
CN announces the acquisition of publicly owned BC Rail Ltd. for $1 billion in cash. In the deal, CN picks up the shares of Canada's third-largest rail company along with the right to operate on BC Rail's roadbed under a renewable 60-year lease. The roadbeds will remain in public hands, while CN will take over rail transportation and maintenance.
Oct. 20, 2003
CN announces the acquisition of publicly owned BC Rail Ltd. for $1 billion in cash. The deal goes against Premier Gordon Campbell's 2001 election campaign promise not to sell the railway. In the deal, CN picks up the shares of Canada's third-largest rail company along with the right to operate on BC Rail's roadbed under a renewable 60-year lease. The roadbeds will remain in public hands, while CN will take over rail transportation and maintenance.
http://www.cbc.ca/news/background/cn/
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Then there's this by Neal Hall, Vancouver Sun story from April 1, 2009 (two sources):
Newly disclosed government documents from the Basi-Virk corruption trial reveal that the
B.C. Liberal cabinet decided Oct. 1, 2003 that CN Rail was the winning bidder of the $1-billion privatization sale of BC Rail.
The controversial decision wasn’t made public until 55 days later, on Nov. 25, 2003.
http://www.vancouversun.com/business/fp/documents+reveal+complaints+about+fairness+before+Rail+sale+announced/1362804/story.html
http://www2.canada.com/vancouversun/news/story.html?id=29986828-6c14-4b9e-a1f9-aecb43f1b87b&p=
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Then a CN Rail announcement:
"On July 9, 2004, CN closed a U.S.$800 million debt offering composed of
U.S.$300 million (Cdn$395 million) 4.25% Notes due 2009,
and U.S.$500 million (Cdn$658 million) 6.25% Debentures due 2034. CN
used the net proceeds of U.S.$790 million to finance a
portion of the acquisition costs of BC Rail and GLT. The debt offering
was made in the United States under the shelf prospectus
and registration statement CN filed in October 2003 for the issuance of
up to U.S.$1 billion of debt securities."
http://google.brand.edgar-online.com/EFX_dll/EDGARpro.dll?FetchFilingHTML1?ID=4965276&SessionID=uYwUH6nEJqqdjz7
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Another source for the Debt Offering in October 2003
"On July 9, 2004, the Company issued U.S.$300 million (Cdn$395 million)of
4.25% Notes due 2009 and U.S.$500 million (Cdn$658 million) of
6.25% Debentures due 2034. The debt offering was made under the
Company's shelf prospectus and registration statement filed in October
2003. Accordingly, the amount available under the shelf prospectus and
registration statement has been reduced to U.S.$200 million. The
Company used the net proceeds of U.S.$790 million to finance a portion
of the acquisition costs of BC Rail and GLT."
http://yahoo.brand.edgar-online.com/EFX_dll/EDGARpro.dll?FetchFilingHTML1?ID=3452439&SessionID=2_QaWqvBONYLX47
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October 21, 2003 Form F-X APPOINTMENT OF AGENT FOR SERVICE OF PROCESS
AND UNDERTAKING
Name of issuer or person filing ("Filer"): Canadian National Railway Company
http://google.brand.edgar-online.com/EFX_dll/EDGARpro.dll?FetchFilingHTML1?ID=2542725&SessionID=O0VwHSPZzEiPYG7
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And finally a Transport Action Canada report from June 27, 2003
"The B.C. Liberals are facing an increasingly difficult battle in their bid to privatize the operations of B.C. Rail. The main problem is the number of bidders able to make a compelling offer is limited. In fact, analysts believe that only one potential player - Canadian National Railway Co. - has the cash and operating synergies necessary to justify the kind of bid the province could accept."
http://www.transport2000.ca/Hotlines/hl030627.htm
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It appears that twenty days after the BC Liberal Cabinet voted (in secrecy) on October 1, 2003 to award BC Rail to CN Rail, the latter rushed out and started the process of a Debt Offering to cover the costs. It wasn't until December 28, 2003 that the RCMP and the Victoria Police Department raided the BC Legislature, and nabbed .........Basi/Virk/Basi with the goods.