july 16, 2001

The Superintendent of Financial Institutions, Canada, Takes Control of Alta Surety Company

The Superintendent of Financial Institutions, Canada, has taken control of the Alta Surety Company and has asked the Attorney General to apply for a court order to wind-up the company as well as to appoint a Liquidator. In the interim, the Superintendent will manage the business and affairs of the Company. Alta Surety Company, which specialized in surety bonds guaranteeing the due completion of construction contracts, is not covered by PACICC. For further information, please call 1-800-385-8647 (toll-free).