CANADA: Dylex Probe Uncovers Odd Payments
'Unorthodox' business transactions have been uncovered by a preliminary investigation into Canadian giant Dylex Ltd according to a representative of trade creditors who are owed around $60m by the chain. Dylex was sold in May for $68m, to Hardof Wolf, a shell corporation owned by McCrory Corp. Creditors are now alleging that money that should have been repaid to them has been funnelled by Hardof to McCrory.