TORONTO — A legal battle between Torstar Corp. business partners Paul Rivett and Jordan Bitove is in court this morning.Rivett and Bitove are equal partners in Nordstar Capital Inc., an investment company that purchased Torstar in 2020 for $60 million, and controls all of its assets, including the Toronto Star newspaper.
The hearing comes after Rivett filed an application to the Ontario Superior Court on Sept. 1 seeking a court order to wind up the media company, citing"irreparable" damage to his relationship with Bitove. In the court filing, Rivett claims Bitove changed his mind about previously agreed-upon plans, failed to provide a budget at the Toronto Star, which he oversees as publisher, ignored proper corporate governance and disregarded his responsibilities to Torstar and Nordstar.
In a statement last week, Bitove said he is making"no apologies" for the way he runs the newspaper business and has worked to make the company resilient, more accountable and more competitive.
May the RED Star go bankrupt.
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