http://www.financialpost.com/story.html?id=152738#ixzz0j3EyHhMw
http://www.canada.com/nationalpost/financialpost/story.html?id=2d43ae3c-fbbf-4722-9b75-c7e8b7462e61

Quote, "Newton Glassman, the managing partner of Catalyst Capital Group Inc., told a private equity seminar last month that his company hasn't made any money on Hollinger Inc. because "he backed the wrong horse." The youthful managing partner of Catalyst Capital Group Inc. told about 100 distressed asset investors at the Toronto Convention Centre that the parent company through which Conrad Black once controlled the world's third-largest media empire wasn't proving to be such a solid investment after all.

The balance has been spent on consulting fees -- including more than US$20-million paid to Richard Breeden, a former chairman of the U.S. Securities and Exchange Commission, for his now-famous investigative report -- and other litigation fees, such as the US$542-million civil suit launched against Lord Black and a group of his former managers.