Bankruptcy and Insolvency Professionals Ginsberg, Gingras & Associates and Groupe Thibault Van Houtte Announce Merger - Trustees in Bankruptcy Join Forces to Create Québec's Largest Firm



    GATINEAU, QC, Aug. 22 /CNW Telbec/ - Two of Québec's most important
trustees in bankruptcy have decided to join forces to create the largest
professional insolvency and bankruptcy group in Quebec and one of the largest
in Canada.
    Groupe Thibault Van Houtte et Associés, established in 1986 with major
offices in Montreal and Québec City will join Ginsberg, Gingras & Associates,
who recently celebrated 27 years in business and whose head office is located
in Ottawa and Gatineau. Together, they operate a network of 25 regional
offices in most regions of Québec and in Eastern Ontario and now employ a team
of 110 permanent staffers, of whom 19 are professional trustees in bankruptcy
and insolvency, making the new venture Québec's most important professional
resource in the field of insolvency. The new group will now be handling a
total of 3,700 cases annually, equivalent to 12 percent of the total business
volume in Québec and four percent of the total number of cases handled in
Canada.
    "This move will allow us to offer our clients better services across
Québec and Ontario and to make available a greater pool of professional
expertise in business reorganization and insolvency counselling both to
private individuals and families and to businesses throughout Québec and
Ontario," said Claude Gingras, founder and president of Ginsberg, Gingras &
Associates.
    As for Pierre Delisle, president and founding partner of Groupe Thibault
Van Houtte et Associés ltée, he is delighted with the transaction which brings
together the two partners. "The merger which brings us together will prove to
be a winning combination for everyone, but above all, it will benefit our
respective clients who will now have access to a completely diversified talent
source of insolvency professionals across Québec and Ontario," Delisle said.
    Neither partner is entertaining the prospect of closing offices and
neither is considering layoffs as part of their future plans, although they
are counting on taking advantage of other economies of scale. They remain open
to the possibility of looking into other opportunities for expansion through
acquisitions if such opportunities present themselves and if the state of the
economy is favourable.
    The new venture will pursue its professional activity under the existing
names of Ginsberg, Gingras and Thibault Van Houtte for the time being. Both
these companies are well known in their respective markets not only as
professionals in bankruptcy, insolvency and business reorganization, but also
for their exemplary contributions to various humanitarian causes and their
continued community involvement.

    Ginsberg, Gingras and Thibault Van Houtte, whose head office will be
located in Gatineau, now serves the Greater Québec City area in Lévis,
Beauport, Charlesbourg, Baie-St-Paul, St-Raymond (Portneuf), Thetford Mines,
St-Georges (Beauce); the Greater Montreal area, in Longueuil, St- Lambert,
Blainville, St-Jérôme and Ste-Agathe; the Lower St.Lawrence region, in
Rimouski and Rivière-du-Loup; the central region of Québec, in Trois-Rivières
and Drummondville; the Outaouais region (Western Québec) and Eastern Ontario,
in Ottawa-Gatineau, Buckingham, Orléans and Alfred; and the Abitibi region, in
Rouyn-Noranda.




For further information:

For further information: Robert P. Racicot, CIRP, Partner and
Vice-President, Administration, Ginsberg, Gingras & Associates, (819)
776-0283, www.ginsberg-gingras.com

Organization Profile

GINSBERG, GINGRAS & ASSOCIATES

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GROUPE THIBAULT, VAN HOUTTE ET ASSOCIES LTEE

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