Bankruptcy Court OK’s $30M Sun-Times, Hollinger Deal

Law360, New York (June 10, 2009, 12:00 AM EDT) -- A federal bankruptcy judge has approved an agreement between the Sun-Times Media Group Inc. and its insurers to put forth $30 million for a global settlement fund resolving securities class actions brought by shareholders against its scandal-ridden subsidiary Hollinger Inc.

Judge Christopher Sontchi of the U.S. Bankruptcy Court for the District of Delaware on Tuesday signed off on the settlement agreements, which will collect settlement funds from Sun-Times insurance to resolve the “avalanche of litigation” related to Hollinger’s alleged securities fraud.

“The debtors have demonstrated adequate...
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