Look continues to face 'billing harassment' from Bell Canada

TORONTO and MONTRÉAL, Nov. 7 /CNW/ - Look Communications Inc. (TSX Venture: LOK and LOK.A) ("Look" or the "Corporation") announced today that the Ontario Superior Court of Justice has granted the Corporation permission to proceed with the transfer of assets thereby allowing Look to proceed with its Reorganization Plan (the "Plan"), previously announced on October 10th, 2007. The opposition by Bell Canada ("Bell") to the transfer of these assets 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 of Justice to have the asset transfer approved thereby permitting the Plan to proceed. As a result, Look was required to present arguments against Bell's position to prevent aspects of the Plan from being approved.

.... Look can now start the process to implement the Plan which, when completed, maintains approximately $310 million of its losses.

Ok so we are in a position to be purchased by a company in the industry who can benefit from these tax credits worth 310 mil ... or we can the spectrum for 620 mil and pay no tax.

I like our chances of this working out very very well.

In terms of our FUD specialist ... silence is smart business and working your way through harassment is tricky business ... his simpleton approach to creating FUD through obfuscation is a clear ruse.

Should he post here unless it is intelligible and contributes a meanigful perspective, his posting will be removed.

Orgy