Look obtains Court Order against Bell Canada
TORONTO, Mar 19, 2008 (Canada NewsWire via COMTEX News Network) --
Unique Broadband Systems, Inc. (the "Company") (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 an Order from the Ontario Superior Court of Justice compelling Bell Canada to, amongst other things, deliver its Affidavit of Documents to Look by no later than October 1, 2008 (the "deadline"). Despite agreeing to a Court imposed timetable on August 13, 2007 to exchange an Affidavit of Documents with Look by November 16, 2007, Bell Canada has failed to adhere to its obligations before the Ontario Superior Court of Justice prompting the action initiated by Look.
As such, Look obtained an Order from the Honourable Justice Spence that granted the following:
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1. The Defendant, Bell Canada, deliver its sworn Affidavit of Documents
by no later than the deadline;
2. Bell Canada is to continue reporting to the Ontario Superior Court of
Justice on a monthly basis as to its progress in preparing its
Affidavit of Documents, and that Bell Canada will provide Look with a
written report in advance of this monthly attendance outlining:
a. The number of people who are reviewing the Bell Canada documents;
and
b. The number of documents reviewed during the month and the number
of documents remaining to review; and
3. In the event that Bell Canada fails to deliver its Affidavit of
Documents by the deadline, or if, in advance of the deadline, it is
shown that the efforts Bell Canada is making will not likely allow it
to meet the deadline, Look may seek an order to reduce the
$360,000 per month payment to Bell Canada, or seek an order for such
other relief as the Court may permit, after July 1, 2008 based on the
reports from Bell Canada to that date and any other relevant
material.
>>
The Company is very pleased with the decision of the Ontario Superior Court of Justice and is hopeful that this Order will allow Look to proceed with its Statement of Claim against Bell Canada on an expedited basis as originally agreed to in July 2007.
About Unique Broadband Systems, Inc.
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UBS is a publicly listed Canadian company that has a 51.7 per cent fully diluted economic interest in Look and other assets. With its licensed spectrum through its subsidiary, Look, UBS is a Canadian digital television broadcaster and broadband wireless service provider. The Company's website may be found at www.uniquebroadband.com.
About Look Communications Inc.
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Look's mission is to be an M(3) - Mobile Multi Media - entertainment and information service provider in Ontario and Québec. Look currently delivers a full range of communications services, including high-speed and dial-up Internet access, Web applications, digital television distribution and superior customer service to both the business and residential markets. Look's shares are listed on the TSX Venture Exchange under the symbols "LOK" for Multiple Voting Shares and "LOK.A" for Subordinate Voting Shares. Look's website may be found at www.look.ca.
The corporate information contained in this release contains forward-looking statements regarding future events and the future performance of the Company that involves risks and uncertainties that could cause actual results to differ materially. Assumptions used in the preparation of such information, although considered reasonable by the Company at the time of preparation, may prove to be incorrect. The actual results achieved will vary from the information provided herein and the variations may be material. Consequently, there is no representation by UBS and Look that actual results achieved will be the same in whole or in part as those forecasts.
The TSX Venture Exchange has not reviewed and does not accept
responsibility for the adequacy or accuracy of this release.
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SOURCE: Unique Broadband Systems, Inc.
Peter Block, Investor and media relations, E-mail: irinfo@uniquebroadband.com, (403) 531-0331, (416) 586-0180
Copyright (C) 2008 CNW Group. All rights reserved.
