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The highly publicized announcement by Nortel Networks Corporation (together with its subsidiaries and affiliates, "Nortel") of its intention to sell certain of its businesses has provided an opportunity for the Ontario Superior Court of Justice to settle the state of the law in Ontario (and, hopefully, across Canada) on the sale of all or substantially all of an entity’s assets within Companies’ Creditors Arrangement Act ("CCAA") proceedings
The $52 billion sale of BCE, Inc., Canada’s largest telecom operator, to a private equity consortium is facing a fresh legal challenge in the form of a class action lawsuit, brought by holders of the company’s common stock, that seeks $588 million plus punitive damages for recovery of dividends that were suspended during the second and third quarters this year
