If you are an investor, what you should take note of is that the small investor in this company only lost after Conrad Black was kicked out.
The people who took Hollinger International Inc. from Conrad Black ran it into the ground. They were the ones to cause the bankruptcy. It was only after Conrad Black was kicked out of the company that it ran into problems. The new board spent all their time in trying to collect some money from Black and no time running the company. The small shareholder loses big time when a company goes bankrupt.
An interesting article on this is in Financial Post. To quote one paragraph "The Canadian showcase for dubious corporate restructuring at the moment is Hollinger Inc., the heart of what was once Conrad Black's newspaper empire. For more than seven years, a succession of law firms, court monitors, fly-in executives, accountants and others have been gnawing away at Hollinger. They've consumed tens of millions of dollars in corporate assets, produced no payouts to shareholders or note-holders, and have yet to generate any meaningful conclusions, charges or allegations."
The agony of Hollinger Inc. just goes on with no end in sight. See a recent article in financial post entitled Conrad Black moves to end Hollinger CCAA.
So, if you are an investor, what you should take note of is that the small investor in this company only lost after Conrad Black was kicked out.
On my Investment Talk blog I am today writing about Canadian Natural Resources (TSX-CNQ). Today, I am discussing this stock as an investment. To read about this stock go here....
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