On October 6, the company voluntarily filed for creditor protection under the CCAA, due to C$4 billion mounting debt across radio, television broadcasting and publishing assets in several countries. At the same time it announced it had agreed to a recapitalization transaction with some of its lenders, which will likely require the approval of the Canadian Radio-television and Telecommunications Commission (CRTC). When completed, bondholders – led by hedge funds West Face Capital, GoldenTree Asset Management, and Beach Point Capital Management – will own a majority of shares, leaving existing shareholders, including the Asper family, with a total of 2.3% of the "new" Canwest. However, the Aspers are expected to invest a further C$15 million in the restructured entity.