Conrad Black seems to be on the brink of being removed as chairman of the Telegraph Group in the next few days, a post he has held for nearly two decades.
The Canadian press baron has refused to pay £460,000 to his New York listed company, Hollinger Estates, over fees paid to him which the company claims were not authorised by the board.
Hollinger International's interim chief executive, Gordon Paris, set a deadline of next Sunday for Lord Black to make the repayment. Sources closes to Mr Paris say removing Lord Black from the positions he holds is a "matter of interest and consideration".
Lord Black quit as chief executive of the group in November but remains chairman of the company and chairman of its most profitable subsidiary, Telegraph Group, owner of the Daily and Sunday Telegraph and The Spectator.
Lawyers for Lord Black and Mr Paris will meet this week to try and resolve the matter.Reuse content