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Canadian court declines to approve settlement in Urbancorp case

By Benjamin Clarke

21 May 2018

Canadian construction group Urbancorp’s (UCI) Israeli foreign representative has failed to secure an Ontario court’s approval for a settlement that the group entered with private equity investor Terra Firma Capital over a Canadian debtor’s estate, after the court found the debtor itself had not been consulted.

Canadian court declines to approve settlement in Urbancorp case Toronto (Credit: iStock.com/Pgiam)