The Pan-Canadian Investors Committee for Third-Party Structured ABCP today announced that it no longer expects the proposed restructuring of the third-party ABCP market in Canada to be completed before the end of October.

“While the implementation process continues to move forward, the completion of the transaction has taken longer than expected because of the large number of participants, the complexity of the required documentation involved in the process and the recent volatility in the global financial markets,” the committee said in a release.

“The Committee, its advisors and I are committed, as we have been throughout, to implement the restructuring at the earliest possible date. We continue to work with the Plan Participants and major stakeholders to finalize the documentation and move forward with the closing process and we expect that the restructuring plan will be completed by the end of November,” stated Purdy Crawford, chairman of the committee.