TORONTO, Sept. 4 /CNW/ - NorthWest Value Partners Inc. ("NorthWest")
today expressed disappointment that the Ontario Superior Court has denied an
application for an injunction to restrain the closing of a private placement
proposed by InterRent Real Estate Investment Trust - TSX:IIP.UN ("InterRent"
or the "Trust").
NorthWest will continue to pursue all available legal avenues, including
a hearing to determine the effect of unitholder consents removing the board of
trustees of InterRent. NorthWest announced on August 14 that more than 50% of
unitholders had signed Notices of Consents to remove InterRent's board of
"While we are disappointed that an injunction was not granted, the Court
acknowledged in its ruling that 'there is a serious issue to be tried' in
regards to unitholder consents. We will pursue this matter through legal
channels in order to protect the rights and interests of unitholders," said
Paul Dalla Lana, president of NorthWest.
If you are an InterRent unitholder and are of the view that current
unitholders must be provided with the right to vote on the Transactions,
please contact NorthWest by telephone at (416) 366-8300 ex. 222 or by email at
About NorthWest Value Partners Inc.:
NorthWest, which owns or controls an approximately 34% interest in
InterRent, is a private real estate investment firm based in Toronto, Ontario
and is the founder and owner of NorthWest Healthcare Properties, Canada's
largest private owner and manager of medical office buildings and healthcare
facilities. Since its inception in 1992, NorthWest has established a strong
track record of successfully acquiring, developing and building value in real
estate across Canada.
For further information:
For further information: NorthWest Value Partners Inc., 284 King Street
East, Suite 100, Toronto, Ontario, M5A 1K4, Telephone: (416) 366-8300 ex. 222,