The Supreme Court has agreed to consider overturning the fraud conviction of Black, who is serving a 6 1/2 year prison term in a Florida Prison. The decision keeps a civil lawsuit filed by the Sun-Times Media Group on hold.
Black, the former chairman and chief executive of the Hollinger International media company, and other executives were convicted of bilking the Sun-Times out of millions of dollars.
The 7th U.S. Circuit Court of Appeals in Chicago upheld the convictions, but the nation's appeals courts are divided on the central issue around their convictions.
Sun-Times Media Group filed for bankruptcy in March and has been fighting to keep the business alive. Last month, general counsel James McDonough told the Wall Street Journal that the company was hoping a "no" from the Supreme Court might allow them to get back some of the more than $100 million it paid to defend Black and other executives.