April 24, 2006 Insurance

Montréal – Before Judge Michel Déziel of Québec Superior Court (district of Longueuil), Richard Korzeniewski, his ex-spouse Ginette Nicole Perreault and KRT Financial Consulting Services Inc., of which Mr. Korzeniewski is the president, filed an acquiescence to judgment on April 18, 2006 for the whole of the demand in capital, totalling more than $700,000, plus interest, indemnities and costs. This acquiescence to the judgment in whole relates to the primary demand launched by Fabrice Larochelle and Diane Larochelle-Côté as well as the demand in which the Autorité des marchés financiers (AMF) intervened.

On June 21, 2005, the AMF intervened in the suit pursuant to its recourse in subrogation after paying Fabrice Larochelle a total of $200,000 in compensation.

Fabrice Larochelle and Diane Larochelle-Côté launched a civil lawsuit in 2003 against Richard Korzeniewski, his ex-spouse Ginette Nicole Perreault and KRT Financial Consulting Services Inc. in a claim totalling $681,624, plus exemplary damages in the amount of $50,000.

Insurance representative Richard Korzeniewski had forged beneficiary designation forms by entering the name of Ginette Nicole Perreault for the purpose of converting funds to his own use derived from the insurance policies carried by the deceased father of Fabrice Larochelle.

By regulation, the maximum compensation payable by the AMF is $200,000 per claim.

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

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Information:

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