Bramalea announces an order granted from the Ontario Court of Justice for expenses to proceed with asset liquidation.TORONTO--(BUSINESS WIRE)--March 30, 1995--Bramalea Inc. announced today that the Ontario Court of Justice The Ontario Court of Justice is a Provincial Court for the Canadian province of Ontario. This court oversees matters relating to family law and criminal law. This court is subordinate in relationship to the "superior" courts. (General Division) granted an order to the Company in respect of general, administrative and restructuring expenses for use by the Company as it proceeds with a downsizing (1) Converting mainframe and mini-based systems to client/server LANs. (2) To reduce equipment and associated costs by switching to a less-expensive system. (jargon) downsizing of Bramalea and an orderly liquidation of its assets. The order provides that Bramalea will receive five percent of gross monthly revenues from its properties during the months of April and May. These funds will be used by the Company to fund the downsizing and continue the orderly liquidation of its assets during those months. In conjunction with the grant of the GAR gar, member of the family Lepisosteidae, freshwater fishes found in the warmer rivers and lakes of the S United States, Central America, Mexico, and the West Indies. Gars are highly predacious and destroy many useful fish. order, the Court also granted an order approving a loan in the amount of $2 million to the Company by the five Canadian chartered banks. CONTACT: Bramalea Inc., Toronto May Chiarot, 416/864-6307 REPEATS: New York New York, state, United States New York, Middle Atlantic state of the United States. It is bordered by Vermont, Massachusetts, Connecticut, and the Atlantic Ocean (E), New Jersey and Pennsylvania (S), Lakes Erie and Ontario and the Canadian province of 212-575-8822 or 800-221-2462; Boston 617-330-5311 or |
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