NEW YORK (AFP) - Hollinger International has asked a US court to extend its injunction against media tycoon Conrad Black from meddling in its affairs from the end of October for two months until December 31.
Hollinger International claims Black looted the group of 380.6 million US dollars through fraudulent transactions, a claim strongly denied by the tycoon who renounced his Canadian citizenship in 2001 in order to take a seat in Britain's House of Lords.
Black was ousted in January as chairman of the US operating company for his media empire, and a Delaware court ruled against his wresting control of the firm from the rebellious board of directors.
"The purpose of this request is to enable the company to undertake the most significant remaining step under its Strategic Process, the distribution of certain proceeds from the sale of the Telegraph Group through a self-tender offer or a dividend," Hollinger International said in a statement.
Hollinger International owns the Jerusalem Post and the Chicago Sun-Times and recently sold the Telegraph Group of Britain.
Its executives are vying to restructure the media group and pay down its debts, while locked in a high profile feud with its former chairman, Black.
They want stop Black, who maintains a 68 percent voting share and 18.2 percent equity holding in the rebellious US-based media company, from having a say in the group's future.
The company said it cannot move to distribute the proceeds from the sale of the Telegraph Group, which totalled 1.3 billion dollars, until it files its 2003 and 2004 financial statements to the US Securities and Exchange Commission.
Hollinger International said its financial results will likely be filed with the SEC in November.
The tycoon has been attacked by British newspapers for his "ravenous appetite for cash."
A scathing report to the SEC last month highlighted some of Black's alleged spending on credit cards charged to Hollinger including a dinner party for Black's wife at La Grenouille in New York (42,870 dollars) "summer drinks" (24,950 dollars), opera tickets (2,785 dollars) and refurbishing Black's Rolls Royce (90,000 dollars).