Cinar Waits For $10M As CFO Steps Down
Amidst the resignation of their three-month term CFO, Cinar Corp. announced it would regain CA$10 million more of the $122 million that was invested without the company boards approval. Cinar expects to receive the $10 million from Nassau, Bahamas-based Globe-X Management Ltd. after the investment matured May 31, 2000. Cinar said Globe-X required five business days from May 31 to "process transactions for administrative purposes" and that Cinar expected to receive the $10 million within that time.