“committed industrial sabotage” by running false news reports in Canwest Publishing Inc. (Canwest) newspapers

"The monitor has unequivocally denied having any influence whatsoever over the editorial content of Canwest newspapers and stated that it does not prepare any news releases on behalf of Canwest."
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Re: In the Matter of the CCAA Proceedings of Canwest Publishing Inc.

"We have reviewed your complaint made on May 13, 2010 that the monitor in the above proceedings, FTI Consulting Canada Inc., had “committed industrial sabotage” by running false news reports in Canwest Publishing Inc. (Canwest) newspapers to the effect that Canada’s banks are the main backers behind the senior secured creditors $950 million stalking horse bid. The results of our review are as follows.

Information provided by the monitor indicates that the five major Canadian banks, the Bank of Nova Scotia, the Canadian Imperial Bank of Commerce, TD Canada Trust, the Bank of Montreal, and the Royal Bank of Canada, are all represented on the steering committee for the senior secured lenders who have advanced the stalking horse bid. Furthermore, the Canadian bank’s share of the total debt of all the members of the steering committee is 63%. In light of the foregoing it cannot be said that the quotes from various newspaper stories you have provided in your May 13, 2010 email are inaccurate or misleading with respect to who is promoting and supporting the senior secured lender’s credit bid.

The monitor has unequivocally denied having any influence whatsoever over the editorial content of Canwest newspapers and stated that it does not prepare any news releases on behalf of Canwest. Our review has not uncovered any evidence that contradicts these statements.

Our review of the information provided by yourself and the facts concerning the alleged issue, as reported by the monitor, have not established any misconduct on the part of the monitor with respect to these proceedings."

Sincerely,
Office of the Superintendent of Bankruptcy Canada
Senior Bankruptcy Analyst







In concluding this matter, we thank you for contacting us and regret that we cannot be of more assistance to you with respect to it.