Company Directory - TMP Finance
Company Details - TMP Finance
TMP Finance
WebsiteCalgary, Canada
TMP Finance is the parent company of Trans Mountain Corporation, which is responsible for financing the Trans Mountain Pipeline expansion project. The company focuses on managing financial resources and ensuring effective financial strategies that support the successful development and maintenance of the pipeline's infrastructure.
CCI Score
CCI Score: TMP Finance
-39.11
0.02%
Latest Event
TMP Finance’s Misleading Financial Maneuver on Trans Mountain
TMP Finance, the parent company of Trans Mountain Corporation, converted a $20-billion government-backed loan into equity, thereby masking its true debt levels and avoiding interest charges. This financial recharacterization, authorized on December 13, 2024 by former Finance Minister Chrystia Freeland, has raised serious concerns over transparency, ethical business practices, and the misuse of public funds.
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TOADIE
TMP Finance is currently rated as a Toadie.
Latest Events
- DEC132024
TMP Finance, the parent company of Trans Mountain Corporation, converted a $20-billion government-backed loan into equity, thereby masking its true debt levels and avoiding interest charges. This financial recharacterization, authorized on December 13, 2024 by former Finance Minister Chrystia Freeland, has raised serious concerns over transparency, ethical business practices, and the misuse of public funds.
-70
Public and Political Behavior
April 9
By misrepresenting a government-backed financial instrument as a conventional loan, TMP Finance exploited political influence to obscure its debt burdens. This action undermines public trust and accountability in the management of public funds, highlighting an unethical manipulation of political and corporate transparency.
The feds’ new billions for Trans Mountain weren’t a loan, filings show
-80
Business Practices and Ethical Responsibility
April 9
Converting a government loan to equity to bypass interest expenses and mask the actual debt is a clear example of unethical business conduct. Such financial maneuvering not only misleads stakeholders but also puts taxpayers at risk by effectively turning a public bailout into a corporate shield.
The feds’ new billions for Trans Mountain weren’t a loan, filings show
-60
Economic and Structural Influence
April 9
TMP Finance’s strategy not only distorts financial reporting but also creates a structural risk by intertwining significant public financing with corporate debt. This maneuver exacerbates long-term economic vulnerabilities and reflects a disregard for fiscal responsibility and accountability.
The feds’ new billions for Trans Mountain weren’t a loan, filings show
- SEP182023
Regulatory filings have confirmed longstanding fears about billions in unrecovered costs associated with the Trans Mountain Pipeline expansion project. Critics argue that TMP Finance’s management of financing may burden taxpayers, especially following the 2022 decision by Finance Minister Chrystia Freeland to cease further public funding.
-40
Business Practices and Ethical Responsibility
April 9
The regulatory filings confirming billions in unrecovered costs suggest mismanagement and unethical financial practices. This behavior undermines public trust and risks burdening taxpayers, reflecting poorly on business practices and ethical responsibility.
-30
Economic and Structural Influence
April 9
The exposure of massive unrecovered costs raises concerns about the economic and structural impact of TMP Finance’s financing strategies. This reliance on questionable public funding mechanisms may contribute to regulatory capture and destabilize economic accountability.
- MAY012023
TMP Finance, the parent company of Trans Mountain Corporation, is implicated in financing the controversial expansion of the Trans Mountain Pipeline. The project, nearing completion as of May 2023, has sparked intense political debates and raised concerns over environmental risks and ethical business practices, impacting marginalized communities and escalating structural economic influences.
-50
Business Practices and Ethical Responsibility
April 9
TMP Finance's role in financing the Trans Mountain Pipeline expansion raises serious ethical concerns. The project is linked to significant environmental risks and public health issues, and its progression underscores a business practice that jeopardizes marginalized communities affected by pollution and climate change.
ANALYSIS | The Trans Mountain saga is nearing its end — the larger debate will go on
-40
Economic and Structural Influence
April 9
By underwriting the expansion of a highly contentious fossil fuel infrastructure, TMP Finance contributes to a structural economic influence that reinforces dependency on environmentally damaging energy sources. This involvement undermines progressive climate initiatives and can facilitate regulatory capture, affecting broader societal and environmental sustainability.
ANALYSIS | The Trans Mountain saga is nearing its end — the larger debate will go on
- MAR102023
The Canada Energy Regulator approved Trans Mountain Corp.'s application to modify a small section of the pipeline route near Kamloops, a decision that accelerates project completion and financial recovery for its backers, including TMP Finance, while sidelining the concerns raised by the Stk’emlupsemc te Secwepemc Nation regarding indigenous territorial rights and cultural significance.
-50
Public and Political Behavior
April 9
The decision illustrates a troubling dynamic where regulatory approval appears to override the legitimate concerns of Indigenous communities, aligning with corporate priorities. As TMP Finance is the parent financing entity, its interests are furthered by a process that compromises public accountability and indigenous rights.
-40
Economic and Structural Influence
April 9
By enabling the modification of the pipeline route, the regulator’s decision supports the financial and operational interests of the project’s backers, including TMP Finance, while neglecting the broader social and cultural consequences for Indigenous communities. This reflects an economic influence that prioritizes corporate profit over community rights.
- OCT062022
TMP Finance, acting as a financial intermediary for the Trans Mountain Pipeline expansion, employs opaque accounting methods that hide the true extent of debt and losses. This maneuver, designed to present an illusion of commercial viability, may leave taxpayers responsible for an estimated $17 billion in hidden debt.
-50
Public and Political Behavior
April 9
By using a corporate shell structure, TMP Finance contributes to a misleading narrative about the pipeline’s financial health. This obfuscation undermines public accountability and transparency in government fiscal policy, placing undue risk on taxpayers.
Taxpayers likely to eat $17 billion of Trans Mountain’s debt, report says
-50
Business Practices and Ethical Responsibility
April 9
TMP Finance’s accounting tactics, including not reflecting full debt on balance sheets and converting portions of debt into equity, exemplify unethical business practices. This deceptive approach obscures true financial risks and undermines corporate transparency and accountability.
Taxpayers likely to eat $17 billion of Trans Mountain’s debt, report says
-40
Economic and Structural Influence
April 9
The use of TMP Finance as a shell company to mask extensive debt levels reinforces economic practices that ultimately shift fiscal risk onto taxpayers and support government subsidies to the fossil fuel sector. This structural maneuver indirectly buttresses policies that may favor authoritarian economic interventions.
Taxpayers likely to eat $17 billion of Trans Mountain’s debt, report says
- OCT012022
An economist report highlights that TMP Finance, the special-purpose entity created to manage financing for the Trans Mountain Pipeline expansion, has been used to mask the full financial picture of the project. This obfuscation raises concerns that pipeline tolls may be insufficient to cover costs, potentially setting the stage for future debt forgiveness by the Canadian government, thereby risking taxpayer funds and undermining transparency.
-40
Business Practices and Ethical Responsibility
April 9
The use of TMP Finance to hide the complete financial situation of the Trans Mountain Pipeline project is considered an unethical business practice. By deliberately obscuring financial risks, the company indirectly facilitates potential government bailouts, putting public funds at risk and compromising corporate transparency and accountability—all of which are counter to anti-fascist and progressive ideals.
Debt forgiveness may be 'looming' for Trans Mountain, economist says ...
- JAN072020
Economist Robyn Allan’s analysis reveals that TMP Finance’s financing structure for the Trans Mountain Pipeline expansion was designed in a way that shifts significant financial risk onto taxpayers. The deal involved borrowing and interest payments structured to understate asset values, leading to artificially low toll rates and exposing the public to massive future subsidies.
-60
Business Practices and Ethical Responsibility
April 9
The financial structuring of the Trans Mountain deal by TMP Finance demonstrates deeply unethical business practices. The decision to finance the project in a way that obscures true asset values and shifts risk to taxpayers prioritizes corporate profitability over public accountability, resulting in prolonged fiscal burdens.
Trans Mountain Deal Was Structured to Bleed Billions, Finds Economist | The Tyee
-50
Economic and Structural Influence
April 9
By manipulating asset valuations to secure lower toll rates, the deal embeds an economic structure that favors corporate interests and contributes to long-term public financial liabilities. This practice entrenches unfair market practices and undermines equitable economic policies.
Trans Mountain Deal Was Structured to Bleed Billions, Finds Economist | The Tyee
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