News Release
Receiver Appointed By Supreme Court Of British Columbia Over Vantage Securities Inc.
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Date:
1998-05-01 -
Number:
98/13
Released: 04/24/98
The Supreme Court of British Columbia, on April 23, 1998, appointed KPMG Inc. as receiver over Vantage Securities Inc. Vantage is a securities dealer, registered with the British Columbia Securities Commission. The appointment of KPMG Inc. was made at the request of the British Columbia Securities Commission as a result of Vantage's failure to comply with required financial conditions under the Securities Act, R.S.B.C. 1996, c. 418. Commission staff have no indication that client accounts have been administered in an inappropriate manner.
KPMG Inc. has been appointed by the Supreme Court to manage the business of Vantage, including taking possession and control of Vantage's assets and administering all client accounts. KPMG Inc. is required to report to the Supreme Court periodically concerning its ongoing management of Vantage.
KPMG Inc. is in the process of establishing a communications facility to respond to all inquiries by clients and creditors of Vantage, and other interested persons. Immediate inquiries should be directed to the following telephone or facsimile numbers:
Vantage Securities Inc.
1500 - 401 West Georgia Street
Vancouver, British Columbia
V6B 5C1
Telephone: (604) 682-4445
Facsimile: (604) 682-4451
The British Columbia Securities Commission is a provincial government agency responsible for regulating trading in securities and exchange contracts.