CanWest, bondholders, creditors in Mexican standoff

It’s like the last scene in The Good, the Bad and the Ugly: Lee Van Cleef, Eli Wallach and Clint, all in a deserted bull ring, each waiting to see who draws first. In this case, it’s CanWest, its bondholders and creditors, all of whom want CanWest to survive, so they can pay their debts, but each warily eying the other in case someone draws first. About ten days to go before the next deadline hits. It’s all over the business press, but we’ll take a look at today’s Globe, which tries not to be too cheerful and schadenfreude over the problems of its television and newspaper rival.

Globe and Mail, April 10 2009

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