Conrad Black has asked an Ontario judge to wind up a five-year process that has seen Hollinger — the firm through which he once controlled the world’s third-largest English-language newspaper empire — languish under court protection against its creditors
A Toronto judge issued an order Wednesday setting out a procedure for Mobilicity to seek the court’s approval of the sale of its spectrum licences to a buyer of its choice.
The ruling is just the first step in a process that could allow the financially distressed wireless carrier to sidestep Ottawa’s blessing in a deal to sell its cellular airwaves.
The Ontario Securities Commission is no longer pursuing allegations against Hollinger Inc., the Toronto-based holding company that once housed Conrad Black’s media empire.
However, Canada’s largest capital markets regulator has scheduled a hearing to adjudicate an amended statement of allegations against Lord Black and his former Hollinger colleagues Jack Boultbee and Peter Atkinson. That hearing is to take place on Aug. 16.
Former press baron Conrad Black is banned from acting as a director of a U.S. company and must pay US$4.1-million in restitution in a settlement with the U.S. securities regulator that ends a long-standing lawsuit over Black’s dealings as the head of the Hollinger media empire.
TORONTO — Peter Atkinson, a former Hollinger executive who several years ago faced fraud charges in the U.S., has reached a settlement with the Ontario Securities Commission that forever bars him from acting as a director of a public company in that province.
He will also have to permanently refrain from becoming an officer of a public company in Ontario and from trading or acquiring any securities of Hollinger Inc.
Pension plans may have lost the battle at the Supreme Court of Canada, but there’s a debate over whether they are winning the war.
Last week, the country’s highest court unanimously overturned a controversial decision by the Ontario Court of Appeal that had catapulted pensioners ahead of secured creditors for payouts during court-supervised insolvency proceedings. In doing so, the high court restored the pecking order of Canada’s long-standing insolvency rules.
MONTREAL — The embattled railroad at the centre of the deadly Lac Mégantic train derailment was granted creditor protection in Canada on Thursday.
A Quebec Superior Court justice handed down the ruling after a request by Montreal, Maine & Atlantic Canada Co.
The company filed the documents on Wednesday and was seeking relief from its creditors under the Companies’ Creditors Arrangement Act.
The CCAA allows companies protection while they work out ways of avoiding bankruptcy.
OTTAWA — Canada’s official-languages commissioner has asked John Baird to dump his English-only business cards.
Baird ordered the unilingual cards in May 2011, soon after being appointed foreign affairs minister.
The cards were also embossed with gold-coloured ink, and the word Canada was sharply reduced in size, leaving Baird’s name in the largest typeface.