BCI Announces Court Approval of Monetization Transaction.MONTREAL -- Bell Canada International Inc. ("BCI BCI Bat Conservation International BCI Brain-Computer Interface BCI Business Continuity Institute BCI Business Cycle Indicators BCI Banco de Credito e Inversiones (Chilean bank) BCI Bell Canada International ") announced today that the Ontario Superior Court of Justice The Superior Court of Justice for Ontario, Canada is the successor to the former Ontario Court of Justice (General Division), and was created on April 19 1999. Its predecessor, the Ontario Court (General Division) was the result of the 1990 merger and discontinuance of the previous has approved an agreement, previously announced by BCI on August 4, 2004, to monetize a portion of BCI's non-capital tax losses (the "Loss Monetization Plan"). BCI expects to implement the Loss Monetization Plan in the first quarter of 2005 and to receive a compensatory payment of at least $42 million in the first quarter of 2007. BCI is operating under a court supervised Plan of Arrangement, pursuant to which BCI intends to monetize its assets in an orderly fashion and resolve outstanding claims against it in an expeditious ex·pe·di·tious adj. Acting or done with speed and efficiency. See Synonyms at fast1. ex manner with the ultimate objective of distributing the net proceeds Net Proceeds The amount received after all costs are deducted from the sale of a piece of property or security. Notes: In the case of an investor selling a security, net proceeds represent the proceeds from the sale minus any trading costs (i.e. commissions). to its shareholders and dissolving the company.BCI is listed on the Toronto Stock Exchange Toronto Stock Exchange (TSE) Canada's largest stock exchange, trading approximately 1,200 company stocks and 33 options. under the symbol BI.Visit our web site at www.bci.ca. Certain statements made in this press release describing BCI's intentions, expectations or predictions are forward-looking and are subject to important risks and uncertainties.The results or events predicted in these statements may differ materially from actual results or events.For additional information with respect to risk factors relevant to BCI, see the Annual Information Form filed with Canadian securities commissions.BCI disclaims any intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise. Bell Canada International Inc. (TSX TSX Toronto Stock Exchange (TSE before April, 2002) TSX Transfer from Stack Pointer to Index TSX True Space Extension :BI) |
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