Mount Real Corporation: Court authorizes AMF to intervene

Decisions and Freeze and cease trade orders Securities

Montréal – At the request of the Autorité des marchés financiers (AMF), Mr. Justice Jean-Yves Lalonde of the Superior Court issued a decision on March 13 authorizing the AMF to intervene in the matters of bankruptcy respecting the following companies (related to or held in whole or in part by Mount Real Corporation): Real Vest  Ltd. (Real Vest), Gestion MRCAS Ltée (MRACS) and Real Assurance Acceptance Corporation (RAAC). The AMF is also authorized to attend any meeting of creditors of these companies and take the floor.

The AMF wishes to stress the importance for all investors and creditors of the companies in bankruptcy that are part of Mount Real Corporation (Real Vest Investments Ltd., Gestion MRCAS Ltée and Real Assurance Acceptance Corporation) to support the efforts of the trustee assigned to these matters, namely, Raymond Chabot inc. Investors must complete the proof of claim that was sent to them and personally attend the meeting of creditors or deliver to the trustee a proxy appointing Raymond Chabot inc. to act on their behalf.

On February 27, 2006, further to a decision by the Superior Court, the trustee Raymond Chabot was appointed to act in the bankruptcy matters of these companies. The AMF has argued that the trustee is currently best suited to carry on with the investigations and examinations for the purpose of locating and recovering assets.

As well, on January 25, 2006, the Québec Finance Minister appointed Jean Robillard of the firm Raymond Chabot Grant Thornton as provisional administrator to administer the assets of the following companies (related to or held in whole or in part by Mount Real Corporation): Real Vest  Ltd. (Real Vest), Gestion MRCAS Ltée (MRACS) and Real Assurance Acceptance Corporation (RAAC).

The provisional report (pdf - 720 KB)This link will open in a new windowUpdated on March 1st, 2006Offres ou rapports boudinés (in French only) is available on the AMF website.

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

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