The Ontario Securities Commission today obtained a court order extending the appointment of KPMG Inc. as the receiver of all the property, undertaking and assets of Portus Alternative Asset Management Inc. and BancNote Corp.
The OSC says it will be seeking to obtain additional terms relating to the conduct of the receivership at a motion scheduled for March 29.
On April 8, Portus will bring a motion seeking to terminate the receivership against it. The court today ordered the extension of the receivership relating to Portus until that date.
The court appointment, originally made March 4, 2005, authorizes KPMG to take control of any assets and preserve any documents of the above-noted parties. KPMG is also empowered to conduct investigations as appropriate and respond to questions and claims of Portus’ clients.
OSC extends KPMG as receiver of Portus
- By: IE Staff
- March 24, 2005 March 24, 2005
- 14:40
IE Staff