TORONTO, March 10 /CNW/ - The Goldfarb Corporation (NEX: GDF.H) - The Goldfarb Corporation (the "Corporation") announced today that a decision has been reached in the arbitration between the Corporation and its insurer, Liberty International Underwriters ("Liberty"), awarding US$725,000 plus approximately US$35,000 in interest to the Corporation. The award represents the contribution of Liberty to the amount paid in 2008 by the Corporation to settle the action that arose in connection with the U.S. bankruptcy of Fleming Packaging Corp., a former subsidiary of the Corporation. In addition, the Corporation has been awarded CDN$66,000 in respect of costs in the arbitration proceeding. Interest will continue to accrue on these amounts until payment is made, which is expected to be within 30 days of the March 9, 2010 decision on costs and interest.
The Corporation continues to consider a number of factors and will make a further announcement before any distribution is made to shareholders.
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
SOURCE GOLDFARB CORPORATION
For further information: For further information: Ms. Karen Killeen, Chief Financial Officer at (416) 928-3710