Litigating with Catalyst Capital
West Face Capital is a defendant in several lawsuits commenced by The Catalyst Capital Group Inc. and/or Callidus Capital Corporation. Both Catalyst Capital and Callidus Capital are managed by Mr. Newton Glassman, along with Gabriel De Alba (for Catalyst) and James Riley.
Due to the large volume of documents, and in response to numerous inquiries from current and prospective investors, service providers and industry participants that it interacts with, West Face has assembled the public court documents in the archive hosted on this website. We intend to add new court documents as they become available.
The first Catalyst lawsuit – identified on this website as the “Moyse Litigation” – went to trial in June 2016 before Mr. Justice Newbould. The trial judge dismissed the Catalyst claims in their entirety in a decision rendered in August 2016. In his decision, Justice Newbould also made credibility findings against the Catalyst witnesses, including Mr. Glassman. Catalyst’s appeal of Justice Newbould’s decision was dismissed on its merits from the bench by the Ontario Court of Appeal in February 2018.
West Face believes that the Catalyst and Callidus claims in each of these proceedings are without merit and is vigorously defending each of these proceedings.
2016 VIMPELCOM LITIGATION
The Catalyst Capital Group Inc. v. VimpelCom Ltd., Globalive Capital Inc., UBS Securities Canada Inc., Tennenbaum Capital Partners LLC, 64nm Holdings GP LLC, 64nm Holdings LP, LG Capital Investors LLC, Serruya Private Equity Inc., Novus Wireless Communications Inc., West Face Capital Inc. and Mid-Bowline Group Corp.
The Catalyst Capital Group Inc. and Callidus Capital Corporation v. West Face Capital Inc., Gregory Boland, M5V Advisors Inc. c.o.b. Anson Group Canada, Admiralty Advisors LLC, Frigate Ventures LP, Anson Investments LP, Anson Capital LP, Anson Investments Master Fund LP, AIMF GP, Anson Catalyst Master Fund LP, ACF GP, Moez Kassam, Adam Spears, Sunny Puri, Clarityspring Inc., Nathan Anderson, Bruce Langstaff, Rob Copeland, Kevin Baumann, Jeffrey McFarlane, Darryl Levitt, Richard Molyneux, and John Does #1-10