Look reorganization plan gets court approval

TORONTO/MONTREAL – Wireless network operator Look Communications said Wednesday that the Ontario Superior Court of Justice has granted the company permission to proceed with the transfer of assets, thereby allowing Look to proceed with its reorganization plan, previously announced on Oct.10, 2007. The opposition by Bell Canada to the transfer of these assets, Look said in a statement, was “jeopardizing” the Plan which allowed for the maintenance of the Corporation’s deferred tax assets. “In spite of the benefits, Bell continued its very consistent behaviour of harassment and, accordingly, Look was once again forced to go to the Ontario Superior Court...