Black Again Resorts to Law Against Hollinger International

06 April 2004

As every hunter knows, cornered animals can be unpredictable and dangerous.

In similar mode is Lord Conrad Black of Crossharbour (59) who, despite receiving a bloody nose at the hands of Judge Leo Strine, Vice Chancellor of the Delaware Court of Chancery [WAMN: 16-Mar-04], has again resorted to litigation in his struggle to retain control of publishing group Hollinger International [H-Intl].

On Monday Black filed yet another lawsuit against H-Intl, this time complaining it had refused to honor his right to exercise options on more than two million of the company's shares.

According to the filing, H-Intl "initiated this dispute" by impounding 145,000 shares and more than $1.6 million (€1.33m; £0.88m) in cash paid by Black for the shares pending resolution of claims the company brought against him.

H-Intl also is enriching the legal profession with a $200 million lawsuit against His Lordship for recovery of monies he allegedly misappropriated from the company. Meantime, H-Intl said it could not comment on Black's latest move as it had yet to see the documents.

Data sourced from: New York Times; additional content by WARC staff