Business
BMTC Group Inc. studies the judgment rendered by the Superior Court of Montreal against its subsidiary Brault & Martineau Inc.
BMTC Group Inc. studies the judgment rendered by the Superior Court of Montreal against its subsidiary Brault & Martineau Inc..
About this update from Bmtc Group Inc. Class A
[{"type":"text","content":"\n\n\n\nMONTREAL, Oct. 18 /CNW Telbec/ - BMTC Group Inc. ("BMTC") (TSX : GBT.A)\nannounces that the Superior Court of Montreal rendered a judgment against its\nsubsidiary Brault & Martineau Inc. ordering Brault & Martineau to pay damages\nin the amount of $2 million (plus interest from the judgment date and costs of\ndistribution) in relation to a class action instituted by a group of consumers\nthat had purchased goods from Brault & Martineau using the financing programs\noffered by Brault & Martineau and its credit supplier. The plaintiffs were\nclaiming an amount of $240 million in this class action.\n\n\nManagement of BMTC is currently studying the judgment in order to\ndetermine whether it will appeal the judgment to the Quebec Court of Appeal.\n\n\nManagement estimates that the judgment will result in an after-tax one\ntime charge of approximately $1.7 million during the current financial year.\n\n\n","length":987,"tagName":"div"}]