Catalyst withdraws from 700 MHz auction

telecom | 12/05/2013 2:01 am EST

Catalyst Capital Group Inc. has withdrawn its application to take part in the upcoming 700 MHz spectrum auction, Industry Canada said. In an updated list of auction participants posted on the department's website Wednesday night, Industry Canada said the private equity firm has withdrawn from the auction, which is scheduled to begin on Jan. 14. The Toronto-based private equity firm, which focuses on distressed businesses situations, is the leading debtholder in struggling new entrant carrier Mobilicity (owned by Dave Wireless Inc.), which is currently going through a court-ordered sale...

Struggle for control sharpens between Mobilicity and Catalyst

telecom | 10/23/2013 5:13 pm EDT

Mobilicity’s management says Catalyst Capital Group Inc. is trying to leverage a $60-million lending agreement to take control of the floundering new entrant carrier. Catalyst says it’s simply trying to recoup what it's owed. Neither side appears set to back down. In affidavits filed with the Ontario Superior Court over the past month, Catalyst and Mobilicity management have sparred over competing plans for Mobilicity, which is trudging through bankruptcy protection proceedings. At issue is control over the company’s operations and finances, including a possible sale of...