Look at the highlighted line......was it the generosity of LOOK that they appointed a monitor to look after the sale of the spectrum or was it mandatory.
Look wins injunctions against Bell Canada
TORONTO, July 31 /CNW/ - Unique Broadband Systems, Inc. (TSX Venture: UBS) announced today that Look Communications Inc. ("Look") (TSX Venture: LOK and LOK.A), its 51 per cent controlled subsidiary, has been granted Interim and Interlocutory Injunctions by the Ontario Superior Court of Justice preventing Bell Canada from terminating, reducing, restricting, or in any way interfering with the telecommunications services provided by Bell Canada to Look. In light of the Interim and Interlocutory Injunctions granted, Look will be able to carry on business in the normal course of operations.
The major Terms and Conditions of the Injunctions are as follows:
1. Look will pay Bell Canada $360,000 per month from May 1, 2007;
2. Look may not encumber or transfer its spectrum without the consent of
the Court; and
3. Bell Canada will pay Look's costs of the injunctions.
Look intends to fully comply with the Terms and Conditions set forth by the Ontario Superior Court of Justice and is pleased with the judgment rendered.
Look will expeditiously continue to vigorously pursue its Statement of Claim against Bell Canada for damages in the aggregate amount of $25 million plus interest, costs and any applicable taxes, for, amongst other things, Bell Canada's breach of contract, misrepresentation and unlawful interference with economic relations. Look is also seeking $10 million in aggravated and/or punitive damages.
