Mr Timothy Banks

Timothy Banks

Updates

Litigation

Supreme Court Approval of BCE Transaction Leaves Questions Open
Canada | 01 July 2008

The Supreme Court of Canada has restored the Quebec Superior Court’s approval of the plan of arrangement by which BCE Inc will be taken private, thereby removing a major stumbling block to completion. However, the court's restoration of the trial judgment means only that it agreed with the trial judge’s disposition of the case, not necessarily that it agreed with all of the trial judge’s reasons or findings.

Judicial Willingness to Enforce Standstill Provisions
Canada | 13 November 2007

Acquirors of Canadian targets should note the recent decision in Quebecor Media Inc v Osprey Media Income Fund regarding the use of standstill agreements as a protection mechanism. Recent decisions have demonstrated judicial willingness to enforce standstill provisions requiring acquirors to obtain the target's consent prior to making an offer, even where this may inhibit the usual auction process.