An appeals court has cleared the way for a $60-million takeover of the Star’s publisher by entrepreneurs Jordan Bitove and Paul Rivett. But Divisional Court Justice Michael Penny rejected the request Friday afternoon, issuing his decision via email after a morning hearing. CMMH bid team member and finance industry veteran Neil Selfe declined to comment on Friday’s decision. Once the deal is closed, it would become virtually impossible to unwind it, because the money would have already been dispersed to shareholders, Crawley said. Among their arguments was that a vote last Tuesday, where 98.7 per cent of shareholders approved of the deal, shouldn’t count.

Source: thestar July 31, 2020 16:44 UTC