Hollinger may sue Perle and Kissinger

[UpInArms]

http://business.timesonline.co.uk/article/0,,8209-1107189,00.html

RICHARD BREEDEN, head of the committee investigating Hollinger International, is considering launching civil lawsuits against directors of the media group, charging them with neglecting their duties, The Times has learnt.

Sources close to the investigation are expecting Mr Breeden to sue Hollinger directors including Henry Kissinger, former US Secretary of State; Richard Perle, former US Assistant Defence Secretary; and Marie-Josee Kravis, a former director, member of the audit committee and wife of Henry Kravis, the billionaire venture capitalist. They would face a suit for damages for failing shareholders by neglecting their duty to identify and prevent corporate wrongdoing at the media group.

Should Mr Breeden file for damages against the directors, it is expected that he would also sue James Thompson, chairman of the Hollinger audit committee and former Governor of Illinois, and Richard Burt, a member of the audit commitee. Mr Thompson is chairman of Winston & Strawn, the law firm. He sits on the National Commission on Terrorist Attacks Upon the US, which interrogated President Bush and members of the Administration about whether they could have prevented the September 2001 attacks.

The five directors are alleged to have signed off all the payments and deals for which defendants in another $1.25 billion (£700 million) lawsuit are being sued. Those include management fees requested by senior executives, sales of newspapers to executives for less than a dollar each, incentive bonuses from loss-making schemes and non-compete fees connected to the sale of newspapers to CanWest, the Canadian media group.

...more...

[Spazito]

1. Yes, yes, yes, yes....

sue all of them! They are a dispicable group of slimeballs and I would LOVE to see them all in court! Jail would be even better but that will come later.

[DulceDecorum]

4. But but but but

WHO is going to interrogate them?

[dArKeR]

2. Kissinger, Perle, Thompson what a list. Great post!

[Dr Fate]

3. Take the Bastards to COURT-that's what I always say.

n/t

[IndianaGreen]

5. The best part about Conrad Black's defrauding Hollinger...

is that Hollinger may be forced to sell its news assets, including the rightwing Jerusalem Post. This is the chance for a liberal investor to purchase the Post and change its editorial policies!