Showing posts with label Jim Balsillie. Show all posts
Showing posts with label Jim Balsillie. Show all posts

Saturday, September 12, 2009

Canadian Competition Bureau Has Eye on Coyotes Puck

As the hockey world awaits the reserved decision of Arizona Bankruptcy Judge Redfield T. Baum on Jim Balsillie's auction bid to buy the Phoenix Coyotes, the Toronto Star reports that the Canadian Competition Bureau may investigate and intervene if the Toronto Maple Leafs veto a subsequent relocation of the NHL franchise to Hamilton:

The Canadian Competition Bureau is keeping an eagle eye on Jim Balsillie's fight to buy the Phoenix Coyotes, and is ready to swoop in if the Maple Leafs veto the franchise's move to Hamilton.

..."We are seized by the matter, and we are monitoring it very closely," Richard Taylor, the deputy commissioner of competition, civil matters, told the Star yesterday.

"We are concerned," Taylor said. "We are looking at all the paperwork that's coming out of the proceedings and we will take action if we believe that the veto that Toronto thinks they have is exercised and blocks a team. The exercise of the veto that effectively blocked a team from moving would raise concerns for us and would be something we would investigate."

...Taylor would not go so far as to say the Competition Bureau would definitely investigate the Coyotes case.

"We have to be presented with an anti-competitive act, not the possibility of an anti-competitive act," he said.

"We can't go off pre-emptively and stop something that hasn't happened yet just because it may happen, just because the Leafs say they have a veto, and just because many people believe they will exercise it. We have said and continue to say that if a veto is exercised that effectively blocks a team coming into another team's territory, we will look at it and that includes using all our powers to investigate it and determine whether it violates our act."

- Garry J. Wise, Toronto

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Friday, August 07, 2009

Balsillie Back in Coyote Hunt

Research in Motion owner Jim Balsillie appears to be very much back in the game after a ruling Wednesday by U.S. Bankruptcy Court Judge Redfield T. Baum.

Judge Baum held that all bids to purchase the Phoenix Coyotes will be considered in a September 10th auction of the team, including bids by prospective owners who intend to move the team outside the Phoenix market.

If successful, Mr. Balsillie seeks to relocate the hockey club to Hamilton, Ontario.

Hockey Buzz' writer Steven Hindle argues Jim Balsillie Will Outbid Everybody For the Phoenix Coyotes:
Balsillie really will do everything and anything he can to make sure no one else gets the Coyotes. Now that he is legally allowed to bid, what is going to stop him?

He is by far the most hungry of all potential owners and he will have no problem increasing the amount he is already willing to pay, if he must.

The Board of Governors have sent Balsillie their seal of disapproval many times, yet this time around, Judge Baum has truly given Balsillie's 'Make it Seven' campaign some serious life.

The Globe and Mail's take - Smart lawyer is Balsillie’s ace in the hole:

It isn’t tough to find someone to malign Richard Rodier, chief counsel to Jim Balsillie in his quest to secure an NHL franchise for Hamilton.

He has been described as a “rogue” lawyer, has been blamed in some circles for Balsillie’s failure to make friends among the NHL’s governors, has rubbed people the wrong way, has been accused of leading the billionaire down a quixotic path that can’t possibly end in success.
Bankruptcy law is Rodier’s world. When it became clear that there was no direct route to NHL ownership for Balsillie – or at least NHL ownership in Hamilton – the entire strategy shifted to finding a club teetering on the brink, to find an owner who had lost faith, who needed to get out and get out fast.

- Garry J. Wise, Toronto

Visit our Toronto Law Firm website: www.wiselaw.net

EMPLOYMENT LAWCIVIL LITIGATIONWILLS AND ESTATESFAMILY LAW & DIVORCE

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