Judgement Rendered in Favour of Uni-Select

One of the longest standing legal disputes in the Canadian automotive aftermarket has drawn to a close with a judgement by the Supreme Court of Canada in favour of Uni-Select and against Acktion Corporation.
These proceedings originated with the 1989 acquisition by Uni-Select of the eastern Canada auto parts distribution activities of what was then known as the Acklands chain.
As a result of this transaction, Acktion undertook not to compete with Uni-Select in the markets concerned.
Pursuant to the breach of this undertaking, Uni-Select initiated proceedings which resulted in the final ruling awarding to Uni-Select damages in the amount of $4.4 Million plus interest since May 1993.
Uni-Select estimates that the impact of this judgement on its net earnings will be $4.5 Million.