Winnipeg Free Press

There has been much discussion in the Manitoba legislature about whether the NDP left Manitoba Hydro bankrupt or not. The minister responsible says it is bankrupt, while the premier says it is not.

Let’s look at the definition of bankruptcy by the Canadian Superintendent of Bankruptcy, which is: "the legal status of a person/company who is unable to pay his or her debt."

We also know that Moody’s has stated that they can no longer look at Hydro "as a stand-alone entity" — meaning they can no longer consider Hydro as able to pay its debt without the support of government.

By any standard, a firm in Hydro’s dire financial position in the private sector would certainly be classified as bankrupt and would have to seek creditor protection and relief of its debt (much like a Donald Trump casino).

So, on behalf of the people of Manitoba — I would like to thank the NDP for leaving Hydro effectively bankrupt, if not legally so.