Kukla's Korner Hockey
by Paul on 11/26/08 at 10:44 AM ET
from Sean Gordon of the Globe and Mail, T
he next step in the journey for Balsillie, who makes little secret of his ambition to own an NHL franchise, ideally in Southern Ontario, may hinge on a coming legal argument in a California bankruptcy court.
As the complex proceedings involving disgraced banker and deal maker William (Boots) Del Biaggio III grind inexorably onward, the already fierce legal fight over his 27-per-cent ownership share in the Predators will only get more heated.
According to lawyers involved in the case, Balsillie’s prospects hinge on a crucial ruling likely to be made by Judge Thomas E. Carlson before spring.
The issue: transferability of the contractual rights associated with Del Biaggio’s shares.
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Paul Kukla founded Kukla’s Korner in 2005 and the site has since become the must-read site on the ‘net for all the latest happenings around the NHL.
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