Updated: DragonWave enters into receivership

TORONTO — DragonWave, an Ottawa-based provider of carrier-grade packet microwave network solutions, announced late Monday a receiver has been appointed over DragonWave’s assets and undertakings as its creditors pursue a court-supervised sale of the company.The Ontario Superior Court of Justice has approved an application by Comerica Bank, acting as agent for DragonWave’s senior lenders, to appoint KSV Kofman Inc. as receiver and manager over all of the property, assets and undertakings of DragonWave, pursuant to section 243(1) of the Bankruptcy and Insolvency Act and section 101(1) of the Courts of Justice Act.KSV Kofman is expected shortly to seek court approval...