Hollinger settles with former auditor KPMG
The litigation trustee for former newspaper publisher Hollinger Inc. announced Wednesday it has settled its lawsuit with accounting firm KPMG.
Terms of the settlement, which it said resolves all claims against KPMG, were not released.
KPMG did not admit to any liability in the settlement, which must still be approved by the courts.
KPMG, as the auditor for Hollinger when it was run by Conrad Black, was responsible for checking the accuracy of its books.
It quit that role Dec. 24, 2003.
The trustee reached a settlement with Hollinger's law firm, Torys LLP, in July. Torys also made no admission of liability.
Hollinger, part of Black's former media empire — which collapsed amid fraud allegations and financial losses — has been embroiled in several lawsuits related to the company's operations.
It is currently under court protection from creditors.
Black was convicted of fraud and obstruction of justice by a U.S. court in 2007.
He appealed those convictions after the U.S. Supreme Court limited the application of one of the laws used to convict him and a ruling is expected within days.
With files from The Canadian Press