Livent: a real-life drama unfolds

Article Abstract:

Livent Inc., which filed for bankruptcy protection, is poised to oust and sue the company's co-founders Myron Gottlieb and Garth Drabinsky for C$100-million each, allegedly for committing frauds and kickbacks at the firm. In return, Gottlieb and Drabinsky filed their counter lawsuits. In his counter lawsuit, Drabinsky claimed that the managers of Livent connived and made up fraud story to tarnish his name. Livent is the owner of theaters that include the Ford Centre for the Performing Arts in Vancouver, British Columbia, and the Pantages in Toronto, Ontario. In addition, the Canadian firm is developing a Broadway theater, which has 1,839 seats, on 42nd Street in New York, NY.

Comment:

Is poised to oust and sue its co-founders Myron Gottlieb & Garth Drabinsky for C$100-mil each, allegedly for fraud and kickbacks

Theatrical Producers & Artists, Performing Arts Companies, Livent Inc.

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Ontario developer suing Royal Bank

Article Abstract:

Royal Bank of Canada was slapped with a C$160 million lawsuit by Ontario developer Frank Rodero, who says the bank conspired with another real estate company to take control of his 750-acre housing project near Barrie, Ontario. The suit also alleges that the bank had a controlling stake in Barbican Properties Inc., which, according to court filings, was formed by the bank and eight other developers to rejuvenate troubled properties. Bank counsel Catherine Francis, however, said the bank has the right to turn Rodero's loan over to Barbican because Rodero had defaulted on his payments.

Comment:

Is sued by Ontario developer Frank Rodero, who says the bank conspired with another real estate co to take over his project

Commercial Banks, Commercial Banking, Royal Bank of Canada

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