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Conrad Black withdraws request for tax hearing on house sale

The Federal Court said Black made the withdrawal late Monday


 
An exterior shot of Conrad Black's Toronto home that is for sale. (Vincenzo Pistritto/Concierge Auctions)

An exterior shot of Conrad Black’s Toronto home that is for sale. (Vincenzo Pistritto/Concierge Auctions)

TORONTO — The Federal Court says former media baron Conrad Black has withdrawn his request for an emergency hearing related to tax liens that have been placed on his Toronto home.

The Federal Court said Black made the withdrawal late Monday. No reasons were given.

Black originally asked for the hearing, scheduled for Tuesday morning, because he argued that the liens are preventing him from selling the mansion.

He agreed in March to sell the nine-bedroom, 11-bathroom home at 26 Park Lane Circle in Toronto’s ritzy Bridle Path neighbourhood to multimillionaire businessman Harold Peerenboom for $14 million as part of a lease-back deal.

Under the arrangement, Black and his wife, Barbara Amiel-Black, can continue to live in the home.

In court documents, Black said Peerenboom wants the sale to close on or before June 30, and will not purchase the 23,000-square-foot property after that deadline.

However, the Canada Revenue Agency has placed two liens against the property, alleging Black owes an excess of $15 million in taxes from 2002, 2003 and 2008.

Black argues in the documents that the liens need to be removed for the sale to proceed, saying he is willing to put the proceeds in a trust account pending the outcome of the tax dispute.


 
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