Recent documents submitted in Mobilicity’s court-monitored bankruptcy process indicate private-equity company Catalyst Capital Group Inc. is anxious to see a new arrangement for the wireless carrier soon. A filing from Catalyst, a secured creditor in Mobilicity, cites Jan. 30 as a key date for having a restructuring plan finalized. That is the date to which Mobilicity's bankruptcy protection was recently extended, and is also the deadline for applications to bid in Industry Canada's AWS-3 spectrum auction, which is slated to be held in March. An affidavit from Catalyst chief...
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...