Hollinger Inc Pursues Black over Assets Sale

10 July 2006

Hollinger Inc, the holding company via which fallen media tycoon Lord Conrad Black once controlled his empire, is suing its former chairman/ceo for around C$750 million ($675m; €528m; £366m).

The Toronto-headquartered firm, now under new management, accuses the litigiously beseiged Black, his wife Barbara Amiel and several former associates, of engineering the transfer of some of its most prized assets to its US subsidiary at rock-bottom prices.

Black's Canadian lawyer Edward Greenspan has vehemently denied the accusations, calling them "absurd".

The British peer and several associates are at the center of a US criminal prosecution on charges of racketeering, obstruction of justice, mail and wire fraud for allegedly siphoning $84m from Hollinger International, the Chicago-based publisher Black also once controlled.

He vigorously denies all the charges and has posted $20m bail. The trial is expected to begin in March. Meantime, the legal carousel of claims and counter-claims rides merrily on.

Data sourced from Wall Street Journal Online; additional content by WARC staff