June 8, 2010
We are pleased to advise Class members that this matter has been settled, subject to Court approval, as it relates to Canwest Publishing Inc. (“Canwest”). In January of 2010, Canwest obtained protection from its creditors. Pursuant to a claims process established by the Court, Heather Robertson, in her capacity as Representative Plaintiff, filed a Proof of Claim in the Claims Process established in the Canwest CCAA proceedings.
Canwest and Ms. Robertson, on behalf of the Class, have reached a resolution of that claim, as well as a resolution of the class proceeding as it relates to Canwest. Under the terms of the proposed settlement, the Class may share in a pro rata distribution of assets with other Canwest creditors, subject to implementation and ultimate approval of a Plan of Arrangement in the Canwest insolvency. In exchange, Canwest will receive a license and release in respect of the Class claims against Canwest.
The parties will appear before the Court on June 16, 2010, to seek Court approval of the settlement. Class members who disagree with the terms of the proposed settlement may object, and are required to file a Notice of Appearance with the Monitor in the CCAA proceeding, FTI Consulting, no later than 10:30 a.m. on June 15th, 2010. Class members may download a Notice of Appearance on this website, by accessing the “Documents” link to the right of this page.
A copy of the Settlement Agreement, as well as a Court approved Notice, is also available on this website, under the “Documents” link, to the right of this page.