MONTREAL – Bell Canada has announced the schedule established by the Québec Court of Appeal for the legal proceedings related to the appeals initiated by certain holders of Bell Canada debentures.
The schedule established by the Court of Appeal provides for three and a half days of hearings, over a maximum period of five days, beginning on April 28, 2008. The Court has indicated that it expects to render a decision expeditiously.
"We are very pleased that the Court of Appeal has agreed to a schedule that will allow for the expeditious resolution of these appeals," said Martine Turcotte, chief legal officer of BCE and Bell Canada.
“Our position from the start, which was supported on every point of contention by the Québec Superior Court, is that the claims of these debentureholders are without merit. We believe that the Superior Court’s decisions will be upheld. As the Superior Court has concluded, BCE and Bell Canada have respected all of the rights and reasonable expectations of the debentureholders," added Turcotte.
As a result of the Court of Appeal schedule ordered today, BCE now expects the transaction to close before the end of the second quarter of 2008.
The CRTC’s decision on the sale – in terms of the regulated assets in question – is expected in advance of the April 28 court date.
