INDEPTH: JEAN CHRÉTIEN
François Beaudoin
CBC News Online | Updated September 15, 2004
François Beaudoin
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The wrongful dismissal suit between François Beaudoin and the Business Development Bank of Canada began Tuesday, Sept. 2, 2004 in Montreal. But the case was over not long after it started.
Beaudoin and the bank he once headed, reached a settlement that ended the wrongful dismissal suit. Details of the settlement were not released.
His role in the controversy began in April 1996, when Prime Minister Jean Chrétien tried to lobby for a $2 million loan sought by Yvon Duhaime, owner of the Auberge Grand-Mère. The bank rejected that loan, but a smaller loan, of $615,000 was approved by August 1997.
Less than two years later, the Auberge Grand-Mère was missing payments and asking for more money from the bank. Beaudoin disapproved of extending the loan and resigned from the bank five months later.
Timeline:
April 1999:
Beaudoin suggests recalling the loan from Auberge Grand-Mère.
June 1999:
Beaudoin is stripped of many of his responsibilities by BDC's board of directors.
September 1999:
Beaudoin submits his resignation to the bank after agreeing to a severance package of $250,000 and a yearly pension of $200,000.
December 1999:
The BDC repeals its severance agreement.
November 2000:
Chrétien is cleared of ethical wrongdoing in connection with the Grand-Mère controversy.
November 2000:
Beaudoin sues the BDC for wrongful dismissal. The BDC accuses Beaudoin of misusing company funds.
April 2001:
A Quebec Superior Court judge annuls a writ of seizure that would have allowed the BDC to search Beaudoin's home, office and cottage, suggesting the bank was fishing for evidence.
September 2003:
The civil trial launched by Beaudoin begins in Montreal.
Feb. 6, 2004
Beaudoin wins his lawsuit against the BDC. The judge orders his $200,000 annual pension and $245,000 severance package reinstated.
Sept. 14, 2004:
The Business Development Bank of Canada reaches a settlement to end its dispute with Beaudoin. The details of the settlement are not released.
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| KEY FIGURES: |
Yvon Duhaime
Owner of the Grand-Mère hotel
Howard Wilson
Federal ethics counsellor
François Beaudoin
Former president of the Business Development Bank (BDC) of Canada
Jonas Prince
Toronto real estate tycoon who bought Chrétien's shares of the Grand-Mère golf course in 1993 but failed to pay for them
Louis Michaud
Montreal millionaire who finally bought (and paid for) Chrétien's shares of the Grand-Mère golf course in 1999
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