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iA Financial Group comments on favourable decision in the Ituna litigation
iA Financial Group comments on favourable decision in the Ituna litigation Cana...
About this update from Ia Financial Corporation Inc.
[{"type":"text","content":"\n \n \n \n iA Financial Group comments on favourable decision in the Ituna litigation\n \n \n /* Style Definitions */\nspan.prnews_span\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\na.prnews_a\n{\ncolor:blue;\n}\nli.prnews_li\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\np.prnews_p\n{\nfont-size:0.62em;\nfont-family:\"Arial\";\ncolor:black;\nmargin:0in;\n}\n.prnsbt0{\nBORDER-TOP:0pt\n}\n.prnbcc{\nBORDER-COLLAPSE: COLLAPSE\n}\n.prnsblb0{\nBORDER-LEFT:black 0pt\n}\n.prnvab{\nVERTICAL-ALIGN: BOTTOM\n}\n.prnpl6{\nPADDING-LEFT:0.50em\n}\n.prnsbl0{\nBORDER-LEFT:0pt\n}\n.prnrbrb0{\nBORDER-RIGHT:black 0pt\n}\n.prnpr6{\nPADDING-RIGHT:0.50em\n}\n.prnsbtb0{\nBORDER-TOP:black 0pt\n}\n.prnsbb0{\nBORDER-BOTTOM:0pt\n}\n.prnsbr0{\nBORDER-RIGHT:0pt\n}\n \n \n \n \n \n \n Canada NewsWire\n \n \n \n \n QUÉBEC CITY,\n \n March 10, 2021\n \n /CNW Telbec/ - iA Financial Group (the \"Company\") is pleased to advise that in a decision released today, the\n \n Saskatchewan\n \n Court of Appeal ruled in its favor in the litigation between the Company and Ituna Investment LP (\"Ituna\").\n \n \n \n Ituna\n \n sought to make unlimited deposits into a universal life insurance contract that it purchased from a policyholder. In its decision, the Court of Appeal found that\n \n Ituna's\n \n position was inconsistent with the language and the purpose of the contract.\n \n \n iA Financial Group has always maintained that the position taken by\n \n Ituna\n \n was legally unfounded and that life insurance contracts were never intended to be used as deposit accounts and for purposes unrelated to life insurance.\n \n \n iA Financial Group is currently analyzing the full details of the decision and will provide further comments if necessary.\n \n \n \n Forward-looking Statements\n \n \n This news release may contain statements relating to strategies used by iA Financial Group or statements that are predictive in nature, that depend upon or refer to future events or conditions, or that include words such as \"may\", \"will\", \"could\", \"should\", \"would\", \"suspect\", \"expect\", \"anticipate\", \"intend\", \"plan\", \"believe\", \"estimate\", and \"continue\" (or the negative thereof), as well as words such as \"objective\", \"goal\", \"guidance\", and \"forecast\" or other similar words or expressions. Such statement...