Friday, March 21, 2008

Court Case Decision - Update

On 10-Jan-2008, Madame Justice Catherine Wedge ruled in favour of Aquilini. Her judgement confirmed the ownership of the Vancouver Canucks and General Motors Place rests with Aquilini.

The root of the issue was whether Aquilini had a partnership with Tom Gaglardi and Ryan Beedie at the time Aquilini purchased the team and other assets from John McCaw.

The judge wrote “Even assuming the three men entered into a relationship giving rise to fiduciary duties, the relationship ended in March 2004 as did any fiduciary obligations arising from it.”

This means that, in her opinion, the partnership between the parties ended in March 2004 and prior to the transaction that saw the team ownership change.

As would be expected, Beedie and Gaglardi appealed the decision. On 5-Feb-2008 a claim was made to the BC Supreme Court seeking to set aside the 10-Jan ruling.

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