latest news releases from the newsroom
Koskie Minsky: Class Action Filed Against the Business Development Bank of Canada
TORONTO, March 21, 2003 (PRIMEZONE) -- A class action has been filed today against the Business Development Bank of Canada (the "BDC"). The plaintiffs are pensioners of the Pension Plan for Employees of the BDC and will be requesting court certification to act on behalf of a class that includes all pensioners and deferred vested members of the Plan as well as their beneficiaries. The Action alleges breach of fiduciary duty, unjust enrichment, and breach of contract in regards to the BDC's treatment and use of part of the surplus assets in the Pension Plan for Employees of the BDC. An actuarial report prepared for the Pension Plan as at December 31, 2001 indicates that the Plan had well over $100 million in surplus assets.
Millicom International Cellular
Extension of exchange offer and consent solicitation
NEW YORK, LONDON and LUXEMBOURG, March 21, 2003 (PRIMEZONE) -- Millicom International Cellular S.A. ("Millicom") (Nasdaq:MICC), the global telecommunications investor, today announces that it is extending the private exchange offer and consent solicitation to holders of 13-1/2% Senior Subordinated Discount Notes due 2006, or the "Old Notes", who are not U.S. persons, or who are U.S. persons that are either "qualified institutional buyers" or "institutional accredited investors" (as each of those terms are defined under the Securities Act of 1933, as amended) and who can make the representations to exchange, upon the terms and subject to the conditions set forth in the private offering documents, until 5:00 p.m. New York City time on March 28, 2003, unless further extended by Millicom.