Mercator Transport Announces FGI Files Motion for Receivershipadmin
MONTREAL, QUEBEC, February 18, 2014 – Mercator Transport Group Corporation (“Mercator Transport” or the “Corporation”) (TSX-V: GMT), announces that Faunus Group International, Inc. (“FGI”) has filed a motion with the Superior Court, District of Montreal, to have a receivership appointed with respect to certain of the Corporation’s subsidiaries, namely Mercator Transport International Inc., 6432328 Canada Inc. (“Mercator Global Services”), Mercator Canada Inc. and 6936954 Canada Inc. (previously “Mercator Transport France Inc.”).
The motion was filed pursuant to Section 243 of the Bankruptcy and Insolvency Act (Canada), considering the expiry, as of February 14, 2014, of the previously announced Forbearance Agreement with FGI.
About Mercator Transport
Mercator Transport specializes in air, ocean and ground freight forwarding, international logistics and distribution. Based in Montreal (Canada), with offices in Lyon (France) and Buenos Aires (Argentina), Mercator Transport offers value-added services in global supply chain management, and designs tailor-made solutions. Customer intimacy and commitment differentiates Mercator Transport in its ability to implement customers’ requirements.
Neither TSX Venture Exchange nor its Regulatory Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
For further information:
Mr. Robert Gagnon, Chief Financial Officer
Posted: February 18th, 2014 under ACCESSWIRE.