Hollinger Took $14M From Parent: Witness

Law360, New York (March 23, 2007, 12:00 AM EDT) -- Media baron Conrad Black and other executives at Hollinger Inc. often shifted payments from parent company Hollinger International to their company, including one instance involving $14 million in non-compete payments, according to testimony given at Black’s criminal trial.

In 1999 a $14 million payment earmarked for the newspaper company Hollinger International was at the last minute redirected to Hollinger Inc., Craig Holick, former corporate finance manager at Hollinger International, told the court on Thursday.

Of the $14 million, $2 million originated in a non-compete payment paid...
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