Euro Trade & Forfaiting, Inc.

Euro Trade & Forfaiting, Inc. primarily engages in merchant banking activities, including the financing of trade receivables (forfaiting) internationally. Forfaiting involves the refinancing of trade receivables on a discount basis without recourse to the previous holder. The company's forfaiting transactions are financed through a mixture of capital and borrowings from banks that are asset-backed (secured) facilities. It also provides short-term bridge financing to corporations to assist in capital transactions or to further their business plans. In addition, the company refinances distressed trade debt held by international banks and financial institutions. The company conducts all of its operation primarily in England. The company was founded in 1998 and is based in Vancouver, Canada. As of 08/2002, Euro Trade & Forfaiting, Inc. operates as a subsidiary of MFC Bancorp, Ltd.