Aquilini wins court case over Canucks

“The law does not discourage the pursuit of self-interest in most commercial dealings.”

B.C. Supreme Court judge Catherine Wedge made this note in her January 10 ruling that confirmed developer Francesco Aquilini’s ownership over the Vancouver Canucks, and General Motors Place.

Wedge dismissed the suit filed by businessmen Tom Gaglardi and Ryan Beedie, which accused Aquilini of having gone behind their backs to acquire the NHL franchise from billionaire John McCaw.

In November 2003, Aquilini, Gaglardi, and Beedie agreed to work together to acquire the Canucks.

Aquilini eventually left the group, and in 2004, concluded negotiations to buy the NHL franchise.

In her ruling, Wedge stated that no partnership or joint venture was formed between Gaglardi, Beedie and Aquilini in November 2003 or at any time thereafter.

“Even assuming the three men entered into a relationship giving rise to fiduciary duties, the relationship ended in March 2004 as did any fiduciary obligations arising from it,” the judge wrote in her decision.

Wedge also stated that Aquilini owed no duty to Gaglardi and Beedie to refrain from competing with them for the opportunity to purchase the Enterprise.

In a media statement on January 10, Gaglardi and Beedie noted that they were disappointed over the court ruling.

“We have not wavered in our belief that this opportunity was wrongly taken away from us, however, we respect the time and efforts of Justice Wedge in reaching her conclusions,” Gaglardi and Beedie stated.

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