Resolve Business Outsourcing Income Fund completes sale to Archway

Torys acted as Canadian counsel to Resolve Business Outsourcing Income Fund, together with U.S. counsel Jenner + Block. The Torys team included Cameron Koziskie, Sean Keating and Amanda Kieswetter (corporate), David Dell and Elise Sieradzki (real estate), John Unger and Saira Bhojani (tax), Christina Medland and Tara Sastri (employment) and Eric Boehm (contracting).

On July 6, 2009, Resolve Business Outsourcing Income Fund (TSX: RBO.UN) (Resolve) announced that it has completed the sale of its supply chain management operations to Archway Marketing Services. The asset sale, which was initially announced on May 27, 2009, provides net proceeds to Resolve of approximately C$21 million. The transaction also included Resolve's client contracts, eight American locations and five Canadian locations, as well as the approximately 800 employees currently servicing the business for Resolve. The transaction does not include Resolve's Saint John, New Brunswick, supply chain facility.

Resolve Business Outsourcing Income Fund, headquartered in Toronto, is a provider in Canada of consumer and student loan administration services, credit card portfolio management services, search and registration services, credit and loyalty application processing, medical and dental insurance claims processing, call centre and customer support, marketing and promotional support, and fulfillment services.

Archway Marketing Services, headquartered in Roger, Minnesota, provides marketing, information management, and customer service for clients primarily residing in the business-to-business sector.