Decisions and Freeze and cease trade orders Securities

Montréal – The Bureau de décision et de révision en valeurs mobilières (BDRVM), in a decision dated November 15, 2006 and another dated December 6, 2006, has lifted the freeze in favour of three of Enviromondial’s creditors.

In its decision dated November 15, 2006, the BDRVM lifted the freeze in favour of Hyacinthe Auger, to a maximum of its $31,315 claim for debt, and in favour of the Deputy Minister of Revenue of Québec, whose $170,443 claim exceeds the amount frozen. In its decision dated December 6, 2006, the BDRVM also lifted the freeze in favour of Fasken Martineau DuMoulin, to a maximum of its $41,093 claim for debt.

The amount of $61,955.81 belonging to Enviromondial and targeted by the freeze is being held by Me Alain Houle. Once these creditors have been paid, there will no longer be any money targeted by this freeze. Under the BDRVM’s two decisions, Me Houle is authorized to pay the creditors the aforementioned amounts in accordance with:

  • The judgements handed down in their favour;
  • The applicable statutory provisions with regard to payment priority;
  • The final orders of courts that may intervene in this matter.

Nevertheless, at the request of the Autorité des marchés financiers, the BDRVM extended, in its decision dated December 6, 2006, the freeze order until March 2, 2007, since the amounts held by Me Houle have not yet been disbursed in favour of the creditors.

The Autorité des marchés financiers (AMF) is the regulatory and oversight body for Québec's financial sector.

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