MONTREAL, Oct. 18 /CNW Telbec/ - BMTC Group Inc. ("BMTC") (TSX : GBT.A) announces that the Superior Court of Montreal rendered a judgment against its subsidiary Brault & Martineau Inc. ordering Brault & Martineau to pay damages in the amount of $2 million (plus interest from the judgment date and costs of distribution) in relation to a class action instituted by a group of consumers that had purchased goods from Brault & Martineau using the financing programs offered by Brault & Martineau and its credit supplier. The plaintiffs were claiming an amount of $240 million in this class action.
Management of BMTC is currently studying the judgment in order to determine whether it will appeal the judgment to the Quebec Court of Appeal.
Management estimates that the judgment will result in an after-tax one time charge of approximately $1.7 million during the current financial year.