8% Noteholders GIVE OUR TEN MONEY BACK; fraud to pay dollar per dollar on bonds, when bonds trading on the bond market for .70 cents on the dollar. Irregularity in the bond purchases of Canwest bonds by Canwest at above market rates; agreement between the noteholders and Canwest to miss the sept 15 09 interest payment. Collusion.
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http://www.canwest.com/media/viewNews.asp?NewsroomID=1242
Winnipeg - April 15, 2010) Canwest Global Communications Corp. (“Canwest” or the “Company”) announced today it has agreed with the members of the ad hoc committee (the “Ad Hoc Committee”) of 8% senior subordinated noteholders of Canwest Media Inc. (“CMI”) to finalize and deliver to the Ad Hoc Committee a consensual recapitalization plan (the “Plan”) of the Company, CMI and certain of their subsidiaries (together, the “CMI Entities”), together with an information circular for a creditors’ meeting in respect of the Plan, no later than April 30, 2010. Under the terms of the previously disclosed amended Support Agreement and amended Use of Cash Collateral and Consent Agreement, this new milestone replaces a milestone that required creditor approval of the Plan to occur no later than April 15, 2010. The new milestone also contemplates the Plan containing specific deadlines for receipt of an order of the Ontario Superior Court of Justice (Commercial List) concerning the creditors’ meeting in respect of the Plan and for the holding of such meeting.
