The OPC alleges that Vacances Sinorama has not complied with certain requirements of the Travel Agents Act (Quebec) relating to the management of client funds. The OPC has given Vacances Sinorama 10 days to respond.
MONTREAL – Sinorama Corporation announces that the Office de la protection du consommateur, the oversight authority for travel agencies in Quebec, has appointed PricewaterhouseCoopers LLP as a provisional administrator to Vacances Sinorama Inc., the Corporation's main operating entity in the province of Quebec. The provisional administrator has been charged with the management of Vacances Sinorama's accounts and business, and the termination of travel agent activities in Quebec. The OPC also informed Vacances Sinorama that it does not intend to renew its operating licence upon expiration on July 31, 2018.
The OPC alleges that Vacances Sinorama has not complied with certain requirements of the Travel Agents Act (Quebec) relating to the management of client funds.
The OPC has given Vacances Sinorama 10 days to respond. If the decision is maintained, Vacances Sinorama will have 30 days to appeal the decision before the Administrative Tribunal of Quebec.
Vacances Sinorama is assessing its means of defense and the possibility of contesting the OPC's decision. Management of Vacances Sinorama has offered all of its cooperation and expertise to the OPC and the provisional administrator in order to ensure that all future travels are completed as planned.
Given the uncertainty of the ongoing process, it is premature to assess the impact on the business and financial performance of Vacances Sinorama and Sinorama Corporation. However, if Vacances Sinorama is unable to regain management of its affairs and renew its licence, or if consumers lose confidence in Vacances Sinorama's ability to offer and deliver travel services, the business and financial performance of Vacances Sinorama and Sinorama Corporation will be materially adversely affected.
Vicky is the co-founder of TravelDailyNews Media Network where she is the Editor-in Chief. She is also responsible for the daily operation and the financial policy. She holds a Bachelor's degree in Tourism Business Administration from the Technical University of Athens and a Master in Business Administration (MBA) from the University of Wales.
She has many years of both academic and industrial experience within the travel industry. She has written/edited numerous articles in various tourism magazines.
