Kablooey Events

The Kablooey Events is my shorthand for the major troubles which combined to cause the extra $15 million of GNWT funding, and the forced assumption of the debt by the GNWT. These would include:

• The discovery of problems with the original bridge design, leading to the 1 year delay, and eventual cost overruns.

• The troubles with the original general contractor, Atcon, leading to their departure from the project in December 2009.

• The lack of confidence in the schedule, DCBC, or project management which made the lenders decide to issue a notice of default, forcing the GNWT to assume the debt from the DCBC.