Franchises

STAVRO FILES COUNTER CLAIM IN MAPLE LEAF GARDENS SAGA

11.15.1994

     Steve Stavro has filed a counter-claim against a group of
charities that is suing him for his takeover of Maple Leaf
Gardens, Ltd.  The charities, represented by Ontario's Public
Trustee, said Stavro did not pay enough for the 60% block of
shares from the estate of former MLG Owner Harold Ballard.  That
purchase enabled Stavro to acquire 91% of MLG.  The charities'
court action has prevented Stavro from making the company
private, and Stavro claims the delay has caused "losses and
incurred expenses it would have otherwise have avoided" (Paul
Waldie, FINANCIAL POST, 11/15).

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