MONTREAL, Oct. 18 /CNW Telbec/ - BMTC Group Inc. ("BMTC") (TSX : GBT.A)
announces that the Superior Court of Montreal rendered a judgment against its
subsidiary Brault & Martineau Inc. ordering Brault & Martineau to pay damages
in the amount of $2 million (plus interest from the judgment date and costs of
distribution) in relation to a class action instituted by a group of consumers
that had purchased goods from Brault & Martineau using the financing programs
offered by Brault & Martineau and its credit supplier. The plaintiffs were
claiming an amount of $240 million in this class action.
Management of BMTC is currently studying the judgment in order to
determine whether it will appeal the judgment to the Québec Court of Appeal.
Management estimates that the judgment will result in an after-tax one
time charge of approximately $1.7 million during the current financial year.
For further information:
For further information: Mr. Yves Des Groseillers, Chairman, President
and Chief Executive Officer, BMTC Group Inc., (514) 648-5757