Continental Bank of Canada - Update.TORONTO--(BUSINESS WIRE)--March 19, 1996--CONTINENTAL BANK (TSE See Tokyo Stock Exchange. TSE 1. See Tokyo Stock Exchange (TSE). 2. See Toronto Stock Exchange (TSE). :CTL See control key. 1. CTL - Checkout Test language. 2. CTL - Compiler Target Language. 3. CTL - Computational Tree Logic )(NASDAQ NASDAQ in full National Association of Securities Dealers Automated Quotations U.S. market for over-the-counter securities. Established in 1971 by the National Association of Securities Dealers (NASD), NASDAQ is an automated quotation system that reports on :CCNAF) Continental Bank of Canada The Continental Bank of Canada was a chartered bank formed in Canada when IAC, a financing company, decided to expand the scope of operations in the 1980s. This small bank struggled for several years before being acquired by Lloyds Bank of the United Kingdom. announces that the hearing of the appeal before the Federal Court of Appeal regarding the tax litigation was completed on March 15, 1996. The panel of three judges has reserved its decision and a further announcement will be made when the decision becomes available. A judgement of the Tax Court of Canada The Tax Court of Canada, established in 1983 by the Tax Court of Canada Act, is a superior court which deals with matters involving companies or individuals and tax issues with the Government of Canada. dated September 16, 1994 sustained the Bank's appeal from the reassessments by Revenue Canada for federal income tax for the Bank's 1986 and 1987 taxation years, on substantially all of the issues before the Tax Court. Revenue Canada subsequently appealed the judgement of the Tax Court to the Federal Court of Appeal and the appeal was heard from March 12 to 15, 1996. The Federal Court of Appeal has a variety of options in rendering its judgement and the outcome of the appeal cannot be determined at this time. CONTACT: Continental Bank of Canada George Begic, 416/864-1019 |
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