Gilbert Rozon makes legal challenge for multi-million dollar shares claim
Published Friday, January 11, 2019 2:08PM EST
Last Updated Friday, January 11, 2019 7:31PM EST
Gilbert Rozon is heading to court over the sale of his controlling shares in Just for Laughs.
Rozon, founder of the Just for Laughs Festival, sold all his shares in the company last year in the wake of allegations of sexual assault.
But the buyers, ICM Partners, then demanded he pay back $ 4.2 million, saying the company lost value through the loss of government subsidies, the loss of sponsorship from Quebec milk producers, and when comedian Rachid Badouri cancelled his production contract.
Rozon is recognizing the claim for lost subsidies, which he values at $900,000, but said the other claims are not valid.
In court documents Rozon said that ICM has not justified the $3.3 million value of the milk sponsorship and Badouri's contract.
ICM has since sold some shares to Howie Mandel, CH Group (Evenko), and to Bell Media. CTV News is owned by Bell Media.
Last month Rozon was charged with rape for a crime that allegedly took place in 1979.