Coventree's Liquidator Announces Second Interim Distribution to Coventree Shareholders

TORONTO, Jan. 14, 2013 /CNW/ - Duff & Phelps Canada Restructuring Inc., in its capacity as liquidator of Coventree Inc. ("Coventree") (the "Liquidator"), today announced that Coventree will be making an interim distribution to shareholders in the amount of $0.58 per common share, net of any applicable withholding taxes, on January 15, 2013.  There are 15,157,138 common shares outstanding and, as a result, the aggregate amount of the distribution is approximately $8.8 million.  This second distribution is being made pursuant to an order issued by the Ontario Superior Court of Justice - Commercial List on December 14, 2012.  This distribution will be made as a taxable dividend and Coventree will issue tax forms to its shareholders on that basis.

The Liquidator also announced that it will hold a meeting of the shareholders of Coventree at 10:00 am (Toronto time) on Wednesday, February 13, 2013 at the offices of Duff & Phelps Canada Restructuring Inc., 333 Bay Street, 14th Floor, Toronto, Ontario.  At the meeting, the Liquidator will report to shareholders on the manner in which the winding up of Coventree has been conducted during the preceding year.  Notice of the meeting will be sent to shareholders in due course and posted on the Liquidator's website at www.duffandphelps.com/restructuringcases.    

This press release is intended for distribution in Canada only.

SOURCE: Coventree Inc.

Robert Harlang
Managing Director
Duff & Phelps Canada Restructuring Inc.
Tel: [phone]
Email: [email protected]