Here are the top reads,
Court: The bare-knuckle legal battle between two private equity funds reached a one-sided finish on Wednesday after an Ontario judge tossed out a $1.3-billion lawsuit from Catalyst Capital Group Inc. against rival West Face Capital Inc. Story (Andrew Willis)
Restating: Recovering mortgage lender Home Capital Group Inc. has restated data on its residential home loan balances after detecting an error in a monthly filing with Canada’s banking regulator. Story (James Bradshaw, for subscribers)
Governance: The board of directors of Hydro One Inc. approved changes to the company’s executive compensation policies last year, making it much costlier for the government to intervene in the utility. Story (Janet McFarland and Just in Giovannetti)
FINANCIAL SERVICES WRAP
Bail outs: Ottawa has laid out its final regulations for banks aimed at avoiding the use of taxpayer dollars to bail out financial institutions in the unlikely event of a failure. Story
Succession: Goldman Sachs Group Inc Chief Executive Officer Lloyd Blankfein said on Wednesday he expects Chief Operating Officer David Solomon to succeed him when he decides to leave. Story
Earnings: Morgan Stanley reported record first-quarter profit on Wednesday thanks to a surge in trading activity, much like other Wall Street banks, but executives warned results through the rest of the year may not be quite as strong. Story
IN CASE YOU MISSED IT
Property hunt: Hong Kong billionaire Li Ka-shing and two Canadian investors have made Bombardier’s short list of buyers for the manufacturer’s aerospace plant and surrounding lands in northwest Toronto, according to sources familiar with the matter. Story (Jeff Gray, Rachelle Younglai, Greg Keenan, Nicolas Van Praet, for subscribers)
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