Key Brand wins court case to sell Canadian venues

Published Wednesday 27 August 2008 at 11:45 by Lalayn Baluch

British theatre producer John Gore has won a legal battle which will allow his company Key Brand Entertainment to sell two Canada-based venues to leading Toronto theatre-makers Mirvish Productions.

Aubrey Dan’s Dancap Productions had attempted to block the sale with an injunction, arguing that it had the right to manage both Toronto’s Panasonic and Canon Theatres since acquiring a 12.5% stake in Key Brand in January.

However, the injunction was denied by Justice Geoffrey Morawetz of the Ontario Superior Court, who said that Dancap failed to include a restriction on the sale in its agreement with Key Brand, or failed negotiate first refusal.

He added: “Dancap has no competing ownership rights of the theatres and, in my view, there is no basis for Dancap to stop the sale of the theatres to Mirvish. In my view, Dancap has failed to establish that there is a serious issue to be tried with respect to the ability of Key Brand to sell the theatres.”

Earlier this year Key Brand Entertainment bought out Live Nation’s North American Theatrical Company, which included venues in Canada. Aubrey Dan was given the responsibility of managing the company’s Canadian assets.

Gore commented: “We have always acted entirely in the best interests of the shareholders of Key Brand, including Aubrey Dan. While we want him to become a successful producer and wish him well with the opening of Jersey Boys in Toronto next week, we believe that the theatrical community flourishes when everyone works together for the good of the audience.

“Negotiation via litigation, threats and innuendo is not how we want to do business. I just hope we can now all work together for that brighter future.”