Montréal – At the request of the Autorité des marchés financiers (AMF), the Bureau de décision et de révision en valeurs mobilières (BDRVM) is recommending that the Finance Minister wind up the assets of the ZENITH Stable Value Growth Fund and appoint a liquidator, in accordance with section 261, paragraph 3, of the Securities Act.
The recommendation was issued by provisional administrator André Giroux Conseils inc. in a provisional report disclosed by the AMF.
In the report, the provisional administrator recommended winding up the ZENITH Stable Value Growth Fund. Additionally, as regards the ZENITH Management and Research Corporation and Les Conseillers en valeur Planiges inc., the administrator has recommended the renewal of his mandate in order to complete certain aspects of the work.
On September 12, 2005 at the request of the AMF, the BDRVM issued a freeze order, prohibited securities transactions and suspended the rights granted by registration to Les conseillers en valeurs Planiges inc. Following this, on November 10 the Finance Minister appointed a provisional administrator to administer the assets of the ZENITH Management and Research Corporation, along with those of the firm Les conseillers en valeurs Planiges inc. and the ZENITH Stable Value Growth Fund.
The provisional report is available on the AMF Web site.
The Autorité des marchés financiers (AMF) is the regulatory and oversight body for Québec's financial sector.
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