Goldman Sachs group to appeal Shaw-Canwest deal
Business Law
Goldman Sachs Group Inc will ask a Canadian court on Wednesday to hear its appeal of a lower court decision allowing Shaw Communications Inc to buy the broadcast arm of bankrupt Canwest Global Communications Corp.
An Ontario Superior Court judge ruled on Feb. 19 that Shaw could acquire Canwest's television arm, putting a quick end to a last-minute bid for the assets, filed the night before by a consortium led by private equity fund Catalyst Capital and backed by Goldman.
The Catalyst consortium includes the Asper family, Canwest's founders. Leonard Asper was chief executive of Winnipeg, Manitoba-based Canwest, Canada's largest media group, until last Thursday when he stepped down to avoid potential conflict of interest concerns.
Goldman Sachs is a partner in Canwest's specialty TV arm after helping the media group acquire popular channels such as History Television and Food Network Canada from Alliance Atlantis in 2007 for C$2.3 billion.
It wants the Ontario Court of Appeal to set aside the deal that allows cable operator Shaw to buy the Canwest TV assets.
Related listings
-
Nokia says U.S. court case claims have no merit
Business Law 02/08/2010Nokia said on Monday it would defend itself vigorously against a class action complaint filed in the United States that claims the firm and its top executives hid some product delays from investors in 2008."Nokia has reviewed the allegations containe...
-
Google Book Settlement Falls Short For Justice Dept.
Business Law 02/05/2010Google's latest effort to settle the copyright lawsuit brought against it by The Authors Guild and several publishers in 2005 suffered a setback on Thursday when the U.S. Department of Justice said that copyright and antitrust issues arising from the...
-
Ex-Lawyer: Toyota Willfully Deceptive
Business Law 02/04/2010Toyota's public relations nightmare appears far from over. The beleaguered automaker is facing renewed allegations that it systematically withheld information and ignored safety issues that could have prevented fatal accidents. Dmitrios Biller, a for...
New York Commercial Litigation Law Firm - Woods Lonergan PLLC
Founded in 1993 by Managing Partner James F. Woods, Woods Lonergan PLLC has built a strong reputation as a resourceful and industrious firm that provides clients with clear, concise, and straightforward answers to their most challenging legal issues. Partner Lawrence R. Lonergan, who joined the firm in 2008, has been a friend and colleague to Mr. Woods for over 40 years and shares the same business philosophy. Woods Lonergan PLLC’s collective experience and expertise enables the firm to expeditiously and effectively analyze the increasing challenges clients face in an evolving business and legal world, in many instances, avoiding unnecessary time and expense to our clients. Our mission is simple: provide cutting-edge expertise and sound advice in select areas of the law for corporate and business clients. We thrive on providing each client with personalized attention, forceful representation, and a collaborative team effort that embraces collective knowledge.