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. [http://www.theglobeandmail.com/report-on-business/hedge-fund-buys-canwest-bonds/article1350531/] Goldman Sachs in filings has argued that CanWest's major creditors – led by U.S. funds GoldenTree Asset, Beach Point Capital and Toronto's West Face Capital – have already tripled their original investment in the company. CanWest's senior unsecured debentures were traded for as little as 15 cents on the dollar over the past year.