Canwest Global wins more time from its lenders to complete its restructuring

Canwest Global Communications has a new deal with its lenders to give it more time to complete its restructuring. The company, which had faced a deadline of Thursday, said it must now deliver a recapitalization plan to an ad hoc committee of its noteholders by April 30. Canwest's lenders also agreed to extend to May 31 by which it is required to obtain approval for its plan and Aug. 11 by which it must repay its debtor-in-possession financing.