Lord Black of Crossharbour is appealing against the court ruling which blocked the sale of his controlling stake in Hollinger International, owner of The Daily Telegraph, to the Barclay brothers.
Last month's Delaware court ruling from Judge Leo Strine prevented Lord Black from transferring control of Hollinger International without board approval. It gave the green light to the auction of the group's assets being conducted by Lazard. Judge Strine was critical of his conduct, suggesting that he was guilty of "constructive fraud". He had not been expected to appeal. The Barclay brothers have formally withdrawn their £260m offer.
It was not clear if Lord Black's main motive was to resurrect a sale of his holding comapny Hollinger Inc or to clear his name through the appeal.
The ruling, which was filed on Friday night, said: "Hollinger Inc and Lord Black ... disagree with Vice Chancellor's Strine's views of the facts and equities in the decision ... We are exercising our right to seek review of the decision by the Delaware Supreme Court."
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