Law firm Torys LLP announced last week that it has reached a settlement agreement with Hollinger International over its role as advisor to the firm during Conrad Black's time at the Hollinger helm.
Torys represented both Hollinger and Lord Black's holding company, Ravelston Corp, and stands accused of failing to raise concerns regarding the millions of dollars in alleged 'noncompete' fees being paid to various Hollinger executives.
In a statement commenting on the $30.25 million settlement, Torys Managing Partner, Les Viner announced that:
"We are pleased that a settlement, which includes no admission of wrongdoing on our part, has been reached."
"While Torys acted in good faith at all times during its representation of Hollinger International Inc, we believe it is in the best interests of our clients, our employees and our firm to put this issue behind us."
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