Sunday, March 7, 2010

Voluntary Chapter 11 filing: it is difficult to see this filing as anything other than perpetuation of the noteholder committee

Ontario Justice Pepall should dismiss herself from case, she's ignoring financial fraud
http://www.hollywoodreporter.com/hr/content_display/world/news/e3i8844357cb3f688166b10be953a846ffe Clearly the 25 million loan to fund Canwest operations, and Hap's investment were not required. Issues with the half billion ten funds, and the voluntary interest payment, and derivative loses irregularities, and certain comunication between her and Hap, that the Judge has failed to address, though was required by her oath.

Quote, "Despite a looming showdown, Justice Pepall urged both Shaw and Goldman Sachs to sort their commercial differences out between them."I continue to be of the view that a commercial and negotiated resolution of that issue is in the best interests of all concerned ... The parties must now move forward and have a reasonable dialogue," she wrote in her March 1 decision.

http://www.edmontonjournal.com/business/Unsecured+bondholders+role+sale+Canwest+papers/2516848/story.html

The group, which is owed about $400 million, won approval from Judge Sarah Pepall on several amendments to the procedure, including... " Canwest bought bonds back dollar for dollar, yet bonds selling below a dollar. Removing funds before filing is fraud. Issues with GAAP and the judge ignoring GAAP disclosures, that must be addressed and restated. And GAAP filings for Canwest regarding the Goldman Sachs deal.

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