Catalyst Appeal of Justice Newbould Judgment Dismissed

TORONTO, Feb. 22, 2018 /PRNewswire/ - West Face Capital Inc. issued the following statement after the Ontario Court of Appeal dismissed the appeal by The Catalyst Capital Group Inc. of Mr. Justice Newbould's August 2016 trial decision:

"West Face is very pleased with the judgment rendered from the bench by the Court of Appeal yesterday, without the need for submissions on the merits of the case by West Face's or Brandon Moyse's counsel," said Greg Boland, Chief Executive Officer.   "Both West Face and Brandon Moyse have been defending this litigation by Catalyst for almost four years, in a case where the trial judge found Catalyst's allegations to be entirely without merit and questioned the credibility of Mr. Glassman's and Mr. De Alba's testimony on behalf of Catalyst.  The Court of Appeal has affirmed Justice Newbould's decision which dismissed Catalyst's claims. West Face looks forward to reaching the same result in the defence of Catalyst's other claims."

West Face also notes that the appeal hearing was originally scheduled for September 26 and 27, 2017.  That September hearing was adjourned on September 25 at the request of Catalyst's counsel Mr. Brian Greenspan. Mr. Greenspan had received information that he indicated could be the subject of a fresh evidence application on the appeal.  That information also gave rise to irrevocable differences between Catalyst and its law firm at that time, which led to that law firm resigning as Catalyst's counsel prior to the appeal hearing.

Subsequently, in part as a result of an article published by the National Post on November 25, 2017, West Face learned that on September 18, 2017, surreptitious tape recordings had been made of the trial judge in this case under false pretenses, and provided to Mr. Greenspan.  Ultimately, Catalyst elected not to advance a fresh evidence application in this appeal.

About West Face Capital Inc.

West Face Capital Inc. is one of Canada's leading alternative investment managers combining control-through-distressed, high-yield, negotiated finance, proactive equity, and private equity activities. West Face's capabilities are underpinned by a seasoned multi-disciplinary investment team, proprietary origination channels, deep sector expertise, and the ability to address investment targets in domestic and international markets.

SOURCE West Face Capital Inc.

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