Conrad Black sets aside $60m for potential liabilities

Conrad Black, the newspaper publisher, has agreed to set aside $60m (€47m) to meet liabilities after the proposed sale of his controlling stake in Hollinger International.

The Financial Times said today that a filing with the US Securities and Exchange Commission showed the funds would be placed in two escrow accounts as a condition of the $466.5m (€367.5m) takeover bid by the Barclay brothers.