This article from NYTimes.com has been sent to you by psa188@xxxxxxxxx /-------------------- advertisement -----------------------\ IN AMERICA - NOMINATED FOR 6 INDEPENDENT SPIRIT AWARDS IN AMERICA has audiences across the country moved by its emotional power. This Holiday season, share the experience of this extraordinary film with everyone you are thankful to have in your life. Ebert & Roeper give IN AMERICA "Two Thumbs Way Up!" Watch the trailer at: http://www.foxsearchlight.com/inamerica \----------------------------------------------------------/ Court Approves Bid for Stake in Air Canada December 9, 2003 By The New York Times TORONTO, Dec. 8 - The Ontario Superior Court on Monday approved a bid by an investment company controlled by Victor Li, son of the Hong Kong magnate Li Ka-shing, to become the largest single shareholder in Air Canada. But the investment company, Trinity Time Investments, still faces a rival bid from Cerberus Capital Management of New York, which said it would make a new offer on Tuesday. Air Canada has been under court protection since April. It carries about two-thirds of Canada's domestic traffic. At the hearing on Monday, a court-appointed monitor supported the bid from Trinity for a 31 percent equity stake valued at 650 million Canadian dollars ($498 million). The court also gave the go-ahead for a rights offering led by Deutsche Bank that would allow creditors to own up to 41 percent of the restructured airline. Air Canada's board chose Trinity ahead of Cerberus in early November, but Cerberus, which specializes in buying stock in distressed companies, later asked the airline to consider an improved bid that would give creditors the opportunity to acquire a larger equity stake. Air Canada has the right to terminate the Trinity agreement if it decides to pursue a more attractive proposal. The ruling on Monday entitles Trinity to claim a breakup fee of 19.5 million Canadian dollars if Air Canada accepts a new Cerberus offer. http://www.nytimes.com/2003/12/09/business/worldbusiness/09air.html?ex=1071978004&ei=1&en=6425958e58437893 --------------------------------- Get Home Delivery of The New York Times Newspaper. Imagine reading The New York Times any time & anywhere you like! Leisurely catch up on events & expand your horizons. Enjoy now for 50% off Home Delivery! Click here: http://www.nytimes.com/ads/nytcirc/index.html HOW TO ADVERTISE --------------------------------- For information on advertising in e-mail newsletters or other creative advertising opportunities with The New York Times on the Web, please contact onlinesales@xxxxxxxxxxx or visit our online media kit at http://www.nytimes.com/adinfo For general information about NYTimes.com, write to help@xxxxxxxxxxxx Copyright 2003 The New York Times Company