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CANUCKS INVESTOR HOPES TO FILE SUIT AGAINST VANCOUVER OWNER
Published October 28, 1994
Primex Investments, a minority shareholder of Northwest Sports Enterprises, has filed a petition with the British Columbia Supreme Court requesting permission to sue Northwest President Arthur Griffiths and associates for allegedly co-opting the new hockey arena and NBA franchise for themselves. If the petition succeeds, Primex said that it will seek damages against Griffiths and the other directors of Northwest for "breaches of their duties of care and loyalty" to Primex by selling the new GM Place arena to Griffiths and his associates for a nominal $100. Primex said that it will also seek damages against Griffiths for buying a direct interest in the Grizzlies rather than acquiring the franchise through Northwest for the benefit of all shareholders. The petition states: "Griffiths wanted the arena for himself. He was attempting to acquire a NBA franchise for himself or for a group of which he was a member -- a franchise that he had been earlier seeking for Northwest" (David Baines, VANCOUVER SUN, 10/28).