Otters Owner Sherwood Bassin faces lawsuit

Posted: November 16, 2014 by OHLInsiders in Erie Otters News, News
Tags: , , , ,

It’s well documented all of the current lawsuits involving the CHL but now one of the most well respected and honourable owners in CHL history is facing a $4.5 million lawsuit. A lawsuit was filed in an Erie court on Wednesday by the Ontario Major Junior Hockey Corp, a subsidiary company of the NHL’s Edmonton Oilers. The lawsuit is a result of an aborted sale.

The Ontario Major Junior Hockey Corporation loaned Bassin a total of $4.2 million as part of a deal that would have resulted in the sale of the OHL franchise by December 26, 2013, that deal was never completed. The corporation had plans to move the team to Hamilton.

The lawsuit seeks repayment plus interest.

 

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