Hollinger's Banks Want A Piece Of The STMG Pie

Law360, New York (August 21, 2007, 12:00 AM EDT) -- Hollinger Inc.'s indenture trustees, Delaware Trust Co. and HSBC Bank USA, want immediate court protection from what they say are the bankrupt behemoth's rapidly dwindling assets—in the form of its off-limits stock in Sun-Times Media Group Inc. if necessary.

The banks said in an emergency motion Monday that unless they're guaranteed adequate protection, the automatic stay in the bankruptcy should be vacated because according to the company's own cash flow projections, Hollinger won't be making its $6 million interest payments scheduled for Sept. 4.

Meanwhile, said...
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