CanWest' makes an non required, voluntary, 25 million interest payment -- an example of CanWest shedding cash to look broke

When CanWest shareholders balance sheet needed the cash; CanWest Board, managing CanWest shareholders business, sheds 25 million in voluntary interest payments to the 13.5 percent bonds, that was not due; is an example of CanWest trying to rid itself of cash
~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~
CanWest pays some high interest rates. CanWest is an example of a public company, run to benefit those that run it, over shareholders. It is fraud when CanWest management has CanWest shareholders signs off on loans with abnormal interest rates, in questionable non arms length transactions.

Example is a 13.5 percent, 370 million dollar private loan, that CanWest entered into in 2008, to finance CanWest's repayment (refund) to investors of the CanWest's Canadian Newspaper Trust IPO. Needed to raise this, as CanWest's had already spent the newspaper IPO sale proceeds, to repay another major shareholder's private loan to the public company CanWest.


http://www.sedar.com/ '''CanWest 2009 Annual Report (page54) posted on SEDAR on Dec 02/09''': ''"Note(9)Long term debt: CW Media Holdings Inc. has issued $370 million (US$338 million) (2008 – $338 million (US$319 million) senior unsecured notes maturing on August 15, 2015. The senior unsecured notes bear interest at 13.5% per annum, compounded semi-annually. Interest is accrued from the date of issue to August 15, 2011 (the “Cash Interest Date”), however is not payable until maturity, unless CW Media Holdings Inc.elects to pay interest in cash with respect to any interest period before the Cash Interest Date. After August 15, 2011, interest will accrue on and be paid in cash commencing on February 15, 2012.

Interest is payable or compounded, as applicable, each February 15and August 15.

At August 31, 2009 accrued interest of $29 million (US$26 million) (2008 - $7.1 million (US$6.7 million)) was outstanding and included in long-term debt.

CW Media made a voluntary interest payment on August 15, 2009 for $25 million (US$23 million) representing accrued interest for the period from February 16, 2009 to August 15, 2009."''