Cable & Telecom

Town sues O-Net over $14M loan

By Ahmad Hathout OLDS, AB – The oversight board of O-Net, a prominent community gigabit telecom in Olds, Alberta, is being placed in receivership for failing to pay back a $14 million loan from the town. The non-profit Olds Institute for Community and Regional Development (OICRD), which oversees for-profit O-Net’s owner, Olds Fibre Ltd., was taken to court in the Court of Queen’s Bench in Alberta on June 25 after many months of trying to get the entities to pay back the fibre infrastructure loan from 2012 and 2014. Now the town is embarking on a consolidation of all entities...