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BFI Canada receives court approval for conversion

BFI Canada Income Fund (the "Fund") (TSX:BFC.UN) has announced that the final order from the Ontario Superior Court...


BFI Canada Income Fund (the “Fund”) (TSX:BFC.UN) has announced that the final order from the Ontario Superior Court of Justice for its conversion from an income fund to a corporation by way of a plan of arrangement (the “Conversion”) has been obtained. The Conversion was expected to be completed October 1, 2008.

The common shares of BFI Canada Ltd. will commence trading on the Toronto Stock Exchange, under the symbol “BFC”, on October 2, 2008. Concurrently, units of the Fund will be delisted from the Toronto Stock Exchange and the Fund will submit an application to cease to be a reporting issuer in all provinces of Canada in which it is a reporting issuer or the equivalent thereof.

About BFI Canada Income Fund

The Fund, through its operating subsidiaries, is one of North America’s largest full-service waste management companies, providing non-hazardous solid waste (“waste”) collection and disposal services to commercial, industrial, municipal and residential customers in five Canadian provinces and ten states in the United States (“U.S.”). The Fund provides service to over 1.8 million customers with vertically integrated collection and disposal assets. The Fund’s Canadian segment operates under the BFI Canada brand and is Canada’s second largest full-service waste management company providing vertically integrated waste collection and disposal services in the provinces of British Columbia, Alberta, Manitoba, Ontario, and Quebec. This segment provides service to 20 Canadian markets and operates five landfills, four transfer collection stations, seven material recovery facilities (“MRFs”), and one landfill gas to energy facility. The Fund’s U.S. south and northeast segments, collectively the U.S. segment or U.S. segments, operate under the IESI brand and provide vertically integrated waste collection and disposal services in two geographic regions: the south, consisting of various service areas in Texas, Louisiana, Oklahoma, Arkansas, Mississippi, and Missouri, and the northeast, consisting of various service areas in New York, New Jersey, Pennsylvania, and Maryland. This segment provides service to 39 U.S. markets and operates 17 landfills, 31 transfer collection stations, 10 material recovery facilities, and one transportation operation. The Fund’s units are listed on the Toronto Stock Exchange under the symbol BFC.UN.

For more information on the Fund, visit www.bficanada.com


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