CSII Update.MONTREAL -- RSM RSM (in Britain) regimental sergeant major Richer Inc. (formerly known as Richter & Associes Inc.), in its capacity as Monitor and Interim Receiver of Cable Satisfaction International Inc. ("CSII CSII Continuous Subcutaneous Insulin Infusion CSII Cancer Surveillance Improvement Initiative CSII Center for Systems Interoperability and Integration ") (TSX TSX Toronto Stock Exchange (TSE before April, 2002) TSX Transfer from Stack Pointer to Index TSX True Space Extension :CSQ CSQ Certificat de Sélection du Québec (Quebec selection certificate; immigration document) CSQ Carrier Squelch (radio, scanner) CSQ Customer Satisfaction Questionnaire .SV.A), announced today that on Tuesday, December 20, 2005, the Quebec Superior Court Quebec Superior Court is the highest trial Court in the Province of Quebec, Canada. It consists of 144 judges who are appointed by the federal government following the recommendation of the Premier of Quebec. rendered an Order extending the Stay Termination Date termination date, n See expiration date. (as defined in Paragraph 22 of the Initial Order rendered by Fraiberg J. on June 27, 2003) from December 20, 2005 to June 20, 2006. This extension of the Stay Termination Date was necessary due to further delays in the implementation of CSII's Amended Plan.The delays are principally the result of the difficulties encountered in connection with the refinancing of the existing credit facilities of CSII's subsidiary Cabovisao-Televisao por Cabo, S.A ("Cabovisao"), which refinancing is a condition precedent to the implementation of the Amended Plan. An agreement relating to this refinancing of Cabovisao was recently reached.Inasmuch as this refinancing is completed, it is anticipated that the implementation of the Amended Plan could be carried-out within a few months. However, there can be no assurance that this condition precedent will be satisfied and, accordingly, no assurance can be given that the Amended Plan will be successfully implemented or implemented on the terms and conditions of the Amended Plan. As previously announced, the Amended Plan provides, among other things, for no distribution to be made to the existing shareholders. As a result, the currently outstanding shares of CSII have no value under the Amended Plan. The orders rendered under the CCAA CCAA Comunidades Autónomas CCAA China Center of Adoption Affairs CCAA Companies' Creditors Arrangement Act (Canada) CCAA California Collegiate Athletic Association CCAA Commercial Collection Agency Association in respect of CSII, the Monitor's reports and related materials can be obtained by requesting a copy from the Monitor by writing or calling the Monitor at the address and telephone number set out below or on the Monitor's website at www.rsmrichter.com and entering "Current insolvency files". CSII, through its subsidiary Cabovisao, provides cable television services, high-speed Internet access, telephony and high-speed data transmission services to homes and businesses in Portugal through a single network connection. Cable Satisfaction International Inc. (TSX:CSQ.SV.A) |
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