Ravelston Corporation Limited
- Ravelston Corporation Limited
Ravelston Corporation Limited is a Canadian holding company that was largely controlled by Conrad Black and business partner David Radler. It held shares in Black's other holding companies, such as Hollinger International, now known as Sun-Times Media Group. The Toronto-based private company had owned the British "Daily Telegraph" and Toronto's "National Post" newspapers. These papers were sold, mostly to Canwest Global. The company was once the power base of Conrad Black's and through this company controlled a media empire in the 1980s and 1990s. At one time, Ravelston controlled 78% of Hollinger's stock with Black as CEO and Chairman and Radler as President. As a result of Black's and Radler's legal problems involving allegedly unauthorized 'non-compete' payments in the sale of Hollinger International newspapers, Ravelston entered into receivership in summer 2005 and, on April 20, 2005, Black and Radler resigned from Ravelston to facilitate a filing for bankruptcy protection. Ravelston is now in the hands of court-appointed receiver RSM Richter.
References
* [http://www.sec.gov/litigation/complaints/comp18969.pdf Ravelston case]
* [http://www.rsmrichter.com/Restructuring/Ravelston.aspx Public Documentation made available by accounting firm RSM Richter]
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