Nortel, Livent, BCE: A red-letter day for white-collar law

Posted on June 20, 2008 by Douglas Bell

White-collar law, both civil and criminal, dominates this morning’s headlines: the Livent trial is ongoing, the BCE decision is expected from the Supremes later this afternoon and the RCMP is finally charging execs from Nortel and Royal Group Technologies (coverage of this last story comes complete with perp-walk photos and an alleged fraudster named—I kid you not—Vic De Zen).

As a straight news story, though, Livent reigns. Yesterday, following Eddie Greenspan’s day one cross-examination of Maria Messina, journos, broadsheeters and bloggers stood in a happy circle and chewed over the best quotes. Greenspan’s barb that Messina was in the “Stikeman Elliott witness protection program” made every story. We also prognosticated on Messina’s prospects in the coming days. One wag offered an anteroom critique of Eddie’s performance: “What on earth did any of it have to do with countering the Crown’s case?”

There were a few half-hearted, mostly satiric efforts at standing up for Eddie’s evolving theory that Garth and Myron are the victims of a grand bean counter conspiracy, followed hard on the heels by further recounting of the great man’s histrionics. Say what you like, but for the scribbling class, Eddie Greenspan is heaven sent.

• Cross-examination gets testy [Montreal Gazette]
• Livent ex-CFO called ‘a liar’ at trial [Toronto Star]
• Livent witness ripped [Toronto Sun]
• As BCE ruling nears, stakes have never been higher [Globe and Mail]
• Ex-Nortel execs face fraud charges [Globe and Mail]
• Action is good but speed would be better [Globe and Mail]
• Royal Group founder ‘stunned’ by charges [Globe and Mail]

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