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OSC Could Drop Probe
By Mark Evans | October 11, 2006
Looks like ex-Nortel CEO Frank Dunn and Nortel may be able to escape being investigated by the Ontario Securities Commission. In an appeal, the OSC said it would not be possible to continue the probe unless a decision is overturned that restricts the OSC from questioning Dunn, who was fired with cause two years ago. “To do so would disqualify all those who have been involved in the investigation to date from participating,” OSC’s lawyer Allan Rock said in a Sept. 15 filing requesting that the Ontario Court of Appeals hear the case. That “would effectively end an important investigation that has been under way for more than two years.” According to Bloomberg, Dunn has argued that any testimoney he provides will be gives to the SEC and could be used in a U.S. criminal investigation, which would violate his right against self-incrimination. The Ontario court considering the the OSC’s appeal hasn’t said whether it will hear the two sides’ arguments.
Topics: Legal Issues |