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NORTHWEST SHAREHOLDER TO SUE OVER GRIZZLIES AND GM PLACE
Published November 2, 1995
A B.C. Supreme Court has granted an angry shareholder in Northwest Sports Entertainment Ltd. permission to sue the company's directors for "allowing Arthur Griffiths to acquire" the Grizzlies and GM Place. Northwest Sports owns the Canucks and formerly owned GM Place and rights to the NBA team until last year, when "ownership passed to Griffiths and John and Bruce McCaw of Seattle in a complicated series of transactions." Primex Investments Ltd., which owns 10% of Northwest Sports, seeks to sue claiming minority shareholders "were deprived of any value in these assets" when Griffiths and the McCaws bought them out at $75 a share (David Baines, VANCOUVER SUN, 11/2).