Radio / Television News

Canwest’s CCAA: “Who is in charge of this restructuring?” Goldman Sachs asks court

TORONTO – Seeking to protect its rights as a co-owner of Canwest Global’s stable of specialty channels, U.S. investment banking firm Goldman Sachs has filed a motion against a portion of the Canadian broadcaster’s restructuring attempts.Filed late Monday with the Ontario Superior Court of Justice, the motion asks the court to reverse the windup of a numbered holding company of Canwest’s. According to the Goldman Sachs motion, 4414616 Canada Inc., a division of Canwest Media Inc., was shuttered on October 5, 2009, the day before Canwest’s Companies, Creditors, Arrangement Act filing on October 6.As readers may recall, Canwest could not...