I wonder if they are updating CBC TV's episode of Life and Times on Conrad Black?
Conrad Black's storied private holding company, Ravelston, has filed for bankruptcy protection from its creditors, a move that signals the jet-setting press baron is running out of financial resources.From the Globe. I can't say I didn't warn you. Pop over for a beer if you need a friend. It's on me. But just one, ok?According to an affidavit filed by Lord Black's long-time deputy, Peter White, in Ontario Superior Court yesterday, Ravelston Corp. Ltd. and a subsidiary, Ravelston Management Inc., are seeking protection under the Company Creditors Arrangement Act because they are "insolvent" and faced with "an immediate financial crisis." The court is set to hear the application Wednesday.
Mr. White said Ravelston has been drained of cash because it no longer receives multimillion-dollar management fees from its subsidiaries Hollinger Inc. and Chicago-based newspaper operator Hollinger International Inc.
