2019 Third Quarter Results
In the third quarter of 2019, ACE recorded a decrease in net assets in liquidation of approximately
Liquidation Process
On
Final Distribution to Shareholders and Dissolution
ACE is completing the remaining corporate, administrative and tax processes to facilitate its dissolution and the final distribution of the remaining cash of ACE prior to its dissolution. Following completion of such processes, the Liquidator intends to seek Court approval of its final accounts, approval to proceed with a final distribution to the shareholders of ACE and approval of the dissolution of ACE. The final amount to be distributed is expected to represent all of the remaining cash of ACE less accounts payable and a reserve to cover the remaining fees and expenses of the liquidation and dissolution and remaining contingencies. The Liquidator will post a copy of the relevant application to the Court and notice of the hearing date on its website at www.ey.com/ca/aceaviation in advance of the hearing date. Shareholders and other parties who have questions or require additional information with respect to ACE and the final distribution and dissolution process may contact the Liquidator by telephone (1-855-279-8388 or 416- 943-4444) or by fax (1-416-943-3300).
CAUTION REGARDING FORWARD-LOOKING INFORMATION
Certain statements in this news release may contain forward-looking statements. Forward-looking statements may relate to analyses and other information that are based on forecasts of future results and estimates of amounts not yet determinable. These statements may involve, but are not limited to, comments relating to strategies, expectations, future actions, the timing of the liquidation, the final distribution to shareholders and the dissolution of ACE. These forward-looking statements are identified by the use of terms and phrases such as 'anticipate', 'believe', 'could', 'estimate', 'expect', 'intend', 'may', 'plan', 'predict', 'project', 'will', 'would', and similar terms and phrases, including references to assumptions. Forward-looking statements, by their nature, are based on assumptions and are subject to important risks and uncertainties. Any forecasts or forward-looking predictions or statements cannot be relied upon due to, amongst other things, changing external events and general uncertainties of the business. Actual results may differ materially from results indicated in forward-looking statements due to a number of factors, including without limitation, market, regulatory developments or proceedings, and actions by third parties as well as the factors identified throughout ACE's filings with securities regulators in
Contact:
Tel: (416) 943-4444
(C) 2019 Electronic News Publishing, source