TORONTO, Oct. 20 /CNW/ - The Pan-Canadian Investors Committee for
Third-Party Structured ABCP today announced that it no longer expects the
proposed restructuring of the third-party ABCP market in Canada to be
completed before the end of October.
While the implementation process continues to move forward, the
completion of the transaction has taken longer than expected because of the
large number of participants, the complexity of the required documentation
involved in the process and the recent volatility in the global financial
"The Committee, its advisors and I are committed, as we have been
throughout, to implement the restructuring at the earliest possible date. We
continue to work with the Plan Participants and major stakeholders to finalize
the documentation and move forward with the closing process and we expect that
the restructuring plan will be completed by the end of November."
Purdy Crawford, Chairman of the Committee said.
For further information:
For further information: MEDIA, NATIONAL Public Relations, Toronto, Lisa
Olsen, Tel. (416) 848-1451; Montreal, Roch Landriault, Tel. (514) 843-2345,
Cell: (514) 249-4537; INVESTORS, Ernst & Young Inc., Pierre Laporte, (514)