BMO Restructures Apex & Sitka Trusts

RBC Capital markets, 20 March 2008BMO announced yesterday that all four swap counter-parties and certain investors in Apex/Sitka signed agreements to restructure the trusts.� By doing so, the bank avoids a near-term write-down of $495 million, saves its clients from losing large sums, reduces the potential of losing clients and facing lawsuits, and eliminates two disputes totaling $1 billion.�