Audited Financial Statements - Agency Activities

Notes to the Financial Statements - Agency Activities

13. Contingent liabilities

The Agency is a defendant in certain cases of pending and threatened litigation which arose in the normal course of operations. The current best estimate of the amount to be paid in respect of the cases identified as likely to be lost has been recorded in Accounts payable and accrued liabilities. All other cases, excluding those assessed as unlikely to be lost, are considered contingent liabilities and the related amounts are disclosed whenever the amount of the contingency can be reasonably estimated. As at March 31, 2007, contingent liabilities for claims and pending and threatened litigation have been estimated at $61,571,000 ($49,019,000 as at March 31, 2006).

Date modified:

2007-11-01