Loans victory for Brathwaite

KEVIN MARTIN -- Calgary Sun

, Last Updated: 8:21 AM ET

Former Calgary Flames goaltender Fred Brathwaite has chalked up a win without even breaking a sweat.

Brathwaite's civil lawyer, Oliver Ho, said yesterday the popular, one-time local hockey hero has reached an agreement with an athletics apparel manufacturer to have loans repaid.

Brathwaite had arranged for a line of credit for Planet Sports Group Inc. while playing in Calgary, and later loaned the company $77,974.40 after his trade to the St. Louis Blues.

"We have an agreement with Planet that the sum of money owing to Fred Brathwaite ... will be paid," Ho told the Sun.

The total repayment will be for $188,310, which includes the loan, $99,749.87 due on the line of credit and interest owed to the Royal Bank of Canada.

"There's interest owing on the line of credit that the Royal Bank charges," Ho said.

"We're asking for that amount, but we haven't asked for interest on the original amounts."

Two weeks ago, Ho said Brathwaite's relationship with Planet was still good even though his client had launched legal action against them to have his cash returned.

The line of credit was guaranteed by Brathwaite for the company in October, 2000, when he was a member of the Flames.


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