Tuesday, February 9, 2010

Hedge Funds expropratiing CanWest shares, have already tripled their original investment in the company -- according to Goldman Sachs investment bank

CanWest's senior unsecured debentures were traded for as little as 15 cents on the dollar over the past year. CanWest shareholders now buying this same debt, dollar for dollar.
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Quote, "Wall Street hedge fund Angelo Gordon, specializing in distressed-debt plays, has been buying CanWest debt since it filed for creditor protection in October. In hedge fund circles, there's [hope] that CanWest's bonds may eventually be worth far more than they currently command - about 70 cents on the dollar."
Angelo Gordon pruchase of CanWest bonds. http://www.theglobeandmail.com/report-on-business/hedge-fund-buys-canwest-bonds/article1350531/

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Secondary source for 15 cent bonds. Same article mentions and omits the 15 cents on dollar purchase of CanWest bonds disclosure. Canadians and CanWest shareholder have been obstructed from accessing this disclousre.

http://www.friends.ca/news-item/8860 Sources the 15 cents on the dollar bonds, the purchase price for 97% of CanWest shares. [Very odd to buy a debt instrument and be paid 3 times on your loan in months.]

http://www.theglobeandmail.com/blogs/streetwise/canwest-beats-back-goldman-sachs/article1401779/ Same article omits referencing that CanWest debt sold for 15 cents on the dollar.

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