Acknowledgement that Canwest could sell the newspapers with its 1.48 billion debt for a dollar
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Unsecured 421 US 9% notes robbed. US Securities Commission has jurisdication here, as US bonds, being give zilch.]
"In a letter filed in court Friday as CanWest's newspaper division sought protection from creditors and instigated the sale process, Mr. Asper said he objects to the move, arguing that the assets could fetch a much higher price down the road."
"In court, a lawyer for CanWest said the newspaper division could no longer pay its bills."
http://www.theglobeandmail.com/report-on-business/canwest-newspapers-go-on-block-despite-ceo-aspers-objections/article1424971/
