EFTA01582821.pdf

Confidential Due Diligence Report PUBLICATIONS Troubled Company Reporter Copyright 1994 - 2009 Bankruptcy Creditors' Service, Inc. & Beard Group, Inc. All Rights Reserved Troubled Company Reporter February 9, 2009 SECTION: Vol. 13 ISSN: 1520-9474 LENGTH: 165 words HEADLINE: MAXWELL COMMUNICATION: New York Court Closes Case After 17 Years BODY: Reuters' Emily Chasan reports that Judge Robert Gerber of the U.S. Bankruptcy Court for the Southern District of New York closed the bankruptcy case of Maxwell Communication Corp. on December 30, 2008, noting there were no further contested matters or adversary proceedings in the case. The bankruptcy case remained open for more than 17 years, the report notes, after the British media empire collapsed amid a string of frauds. According to Ms. Chasan, the Maxwell businesses were thrown into disarray after British publishing magnate Robert Maxwell died in November 1991 and evidence grew of alleged massive financial irregularities. "Pension fund assets of the public companies, Maxwell Communication Corp. and Mirror Group Newspapers, had allegedly been looted to prop up parts of the empire," Ms. Chasan reports. "Administrators and liquidators were appointed in Britain and the United States to recover sums for creditors. Many of Maxwell's key businesses were sold off at auction," Ms. Chasan adds. LOAD-DATE: February 9, 2009 Confidential - This report is not to be disseminated or photocopied to any third party without the express consent of Global Security ISE Investigations. 565419813B 4 Confidential Treatment Requested by JPMorgan Chase JPM-SDNY-00062396 EFTA01582821