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Nike x Liberty Merlin Cyber Monday 2015 - Disgraced newspaper baron Conrad Black may face a potentially nasty legal showdown with Hollinger International, the newspaper empire he controls. Black announced yesterday that he has agreed to sell his holdings in the company to Press Holdings International, a U.K. publishing outfit controlled by the Barclay brothers billionaire twins who operate out of the Channel Nike x Liberty Merlin Cyber Monday 2015 Islands between Britain and France. If successful, the deal would close in 35 days. But the deal, valued at more than $300 million plus the assumption of about $140 million in debt, could violate both a court order from last Friday and the pact Black made when he stepped down as CEO of Hollinger International Nike x Liberty Merlin Cyber Monday 2015 in November when he pledged to work for the benefit of all shareholders according to sources close to the company. Yesterday interim CEO Gordon Paris and Richard Breeden, the former Securities and Exchange Commission chief heading a special committee probe into Hollinger Internationals finances, were meeting to discuss options, sources say. One plan under discussion Nike x Liberty Merlin Cyber Monday 2015 is to demand that any proceeds from the sale be put in escrow pending the outcome of litigation against Black. On Friday, Hollinger International agreed to a court order sought by the SEC that effectively blocks Black from interfering with the special committee investigation that has been ongoing since the spring of 2003. The SEC Nike x Liberty Merlin Cyber Monday 2015 has said that a change in control of the company which would be the outcome if the Barclay deals goes through could be deemed as interfering with the investigation. In that case, the court would appoint Breeden as special monitor of Hollinger International. This would give Breeden broader powers over the direction of the company, Nike x Liberty Merlin Cyber Monday 2015 and would likely impede Blacks efforts at selling out to the Barclay brothers, who own the Scottish newspaper the Scotsman. Blacks situation is further complicated by a lawsuit made public Saturday that accuses Black, his former deputy David Radler and entities they controlled of looting Hollinger International of more than $200 million. The suit was Nike x Liberty Merlin Cyber Monday 2015 filed in New York by Hollinger International, and the details in the filing represent the findings to date of the special committee probe. Hours after the suit was made public, Black was forced to step down as chairman of Hollinger International. The lawsuit alleges that Black, Radler and other execs improperly took more than $90 Nike x Liberty Merlin Cyber Monday 2015 million in so-called non-compete payments associated with deals to sell Hollinger assets. The suit also seeks to recover well over $100 million in management fees that were funneled to Ravelston, a private company controlled by Black and Radler. In a statement, Hollinger International said yesterday it intends to review the offer for Hollinger Inc. and Nike x Liberty Merlin Cyber Monday 2015 its implications for Hollinger International. Hollinger Inc. is the Toronto-based holding company controlled by Black and is the vehicle he has used to control Hollinger International, which operates the companys many newspapers. In a statement, Black said of the potential deal with the Barclay brothers: [The newspapers] will be in good and caring hands and Nike x Liberty Merlin Cyber Monday 2015 we will be able to focus exclusively on resolving current legal and public relations concerns. The reclusive Barclay brothers, who made their fortune in real estate in London in the 1960s, own Londons Ritz Hotel and Littlewoods, a mail-order and retail outlet. Both were knighted by Queen Elizabeth in 2000. Hollinger International operates the Chicago Nike x Liberty Merlin Cyber Monday 2015 Sun-Times, the London Daily Telegraph and the Jerusalem Post, among other papers. - Roadblocks Conrad Blacks proposed sale of Hollinger International control to the Barclay brothers may not go through as smoothly as he hopes. Among the possible hurdles: * Hollinger International could ask the courts to block the sale. * Hollinger International could allow Nike x Liberty Merlin Cyber Monday 2015 the sale, but demand that the proceeds be held in escrow. * The courts might hand over control over the company to Richard Breeden, now leading an internal probe. Share this:FacebookTwitterGoogleWhatsappEmail .