Le Lézard
Classified in: Business
Subjects: LAW, ACC

Echelon Financial Holding Inc. Update


TORONTO, July 22, 2019 /CNW/ - Echelon Financial Holdings Inc. ("EFH" or the "Company") (TSX: EFH) is providing an update on the New Nordic Arbitration.

As disclosed previously, arbitration proceedings were commenced on September 18, 2018 in Denmark against EFH alleging misrepresentations by the Company at the time EFH sold Qudos Insurance to New Nordic Advisors Limited ("NNAL"). Although the Share Sale Agreement specifically provided that it was not assignable, NNAL purported to assign it to a third party, who commenced the arbitration. The arbitration panel in Denmark has now dismissed entirely the arbitration proceedings, with costs awarded to EFH, on the basis that the third party had no standing to bring them.

About Echelon Financial Holdings Inc.

Founded in 1998, Echelon Financial Holdings Inc. operates in the property and casualty insurance industry in Canada, providing personal and commercial lines insurance exclusively through the broker channel. The Company distributes insurance products through The Insurance Company of Prince Edward Island. It trades on the Toronto Stock Exchange under the symbol EFH. For more information, please visit efh.ca

SOURCE Echelon Financial Holdings Inc.


These press releases may also interest you

at 18:55
The Board of Directors of PNM, a subsidiary of PNM Resources , declared the regular quarterly dividend of $1.145 per share on the 4.58 percent series of cumulative preferred stock. The preferred stock dividend is payable July 15, 2020 to shareholders...

at 18:35
EarthRenew Inc. ("EarthRenew" or the "Company") has granted a total of 3,500,000 stock options to certain officers, directors, employees and consultants of the Company pursuant to the Company's stock option plan. The stock options vest immediately...

at 18:10
Solar Alliance Energy Inc. (?Solar Alliance' or the ?Company') announces that it has settled and extinguished $111,436.50 of the Company's outstanding debt (the "Debt") through the issuance of common shares of the Company ("Common Shares"). In...

at 18:05
Euro Tech Holdings Company Limited today reported financial results for the 12-month period ended December 31, 2019 ("Fiscal 2019"). The Company's revenues for Fiscal 2019 were approximately US$17,399,000, an approximate 13.5% decrease compared to...

at 18:00
EastGroup Properties, Inc.  announced today that Marshall Loeb, President and CEO, will present at the Stifel 2020 Cross Sector Insight Conference on Monday, June 8, 2020 at 2:00 p.m. EDT. The presentation will be broadcast live and is accessible at...

at 18:00
Fang Holdings Limited ("Fang" or the "Company"), a leading real estate Internet portal in China, today announced that the ratio of American depositary shares ("ADSs") representing its Class A ordinary shares is being amended from one (1) ADS...



News published on 22 july 2019 at 08:30 and distributed by: