TORONTO--(BUSINESS WIRE)--The Catalyst Capital Group Inc. (“Catalyst”) today provided the statement below in response to the decision by the Ontario Court of Justice regarding its litigation related to the WIND transaction:
Today, the Honourable Justice Hainey of the Ontario Superior Court issued his reserve decision in the VimpelCom case. The decision does not address the merits of the allegations about the conduct of the VimpelCom Defendants. Rather, it prevents any substantive analysis of Catalyst’s allegations that its contractual and other significant legal rights were breached in VimpelCom’s sale of WIND to the West Face consortium.
Catalyst is disappointed by the decision and this result. Catalyst continues to strongly believe that its rights, and the interests of its Limited Partners, were violated in the WIND transaction. Catalyst also strongly believes that substantial evidence exists to substantiate this conclusion.
Consistent with its previous statements, Catalyst will explore all appropriate legal avenues to vindicate the above rights and interests, to ensure that all of the relevant evidence is publicly revealed, and to enable the truth about what happened in the WIND sale to be fully examined and decided on the merits in a court of law.
Catalyst believes that the decision of Justice Hainey is flawed and has instructed legal counsel to deliver a Notice of Appeal to the Ontario Court of Appeal as soon as possible.
Catalyst will make a further announcement when the Notice of Appeal has been filed with the Court.
About The Catalyst Capital Group Inc.
The Catalyst Capital Group Inc., a private equity investment firm with more than $6 billion in assets under management founded in 2002, is a leader in operationally focused turnaround investing. The firm's mandate is to manufacture risk adjusted returns, in keeping with its philosophy of "we buy what we can build." Catalyst's Guiding Principles of investment excellence through operational involvement, superior analytics, attention to detail, intellectual curiosity, team and reputation are key to the firm's success. The Catalyst team collectively possesses more than 110 years of extensive experience in restructuring, credit markets and merchant and investment banking in Canada, the United States, Latin America and Europe. For more information, please visit www.catcapital.com.