Corel Centre infrastructure loan restructuring (Ottawa Senators' CCAA)
The term loan provided by Her Majesty the Queen in Right of the Province of Ontario as represented by the Ministry of Enterprise, Opportunity and Innovation (the "Province") was assumed by Capital Sports Properties Inc. and restructured in connection with the acquisition of the Corel Centre in Ottawa by Capital Sports Properties Inc. The loan was originally provided by the Province to Palladium Corporation, the former owner of the Corel Centre, to finance the construction of certain infrastructure improvements including a highway overpass to the Corel Centre. The amount of the infrastructure loan that was the subject of this restructuring was approximately $21 million. The transaction closed on August 25, 2003.
The Province was led by Neil McCallum, Susan Snelgrove and Roger Schultz. The Province was represented by Fasken Martineau, with a team lead by Jon Levin that included Scott Conover, Belinda James, Paul King, Edmond Lamek and Av Maharaj.