We use cookies on this site to enable your digital experience. By continuing to use this site, you are agreeing to our cookie policy. close

Hollinger's Banks Want A Piece Of The STMG Pie

Law360 (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...
To view the full article, register now.
Law360 Pro Say Podcast
Check out Law360's new podcast, Pro Say, which offers a weekly recap of both the biggest stories and hidden gems from the world of law.