Really, do any of you BCE Directors actually know the terms of your big deal?
These Directors of BCE continue to “impress”:
How a tiny clause spelled the end of the biggest deal
Globe and Mail
November 27, 2008
“There was a lot of finger pointing by the BCE board last night. The directors wanted to know where this [insolvency test] clause had come from,” the source said. The awkward answer, the board learned, was that BCE had authored the killer clause."
I am so reminded of this earlier episode of Board amnesia:
Bondholders say BCE finessed takeover deal to avoid bond redemption
The Canadian Press
January 28, 2008
"The court was reminded that three BCE directors - Tom O'Neill, Jim Pattison and Donna Kaufman, the head of the strategic oversight committee - testified they were unaware or couldn't remember seeing all the details of the bids or how they would affect all stakeholders."
Thursday, November 27, 2008
Posted by Fillibluster at 12:47 PM