Citing unnamed sources, the Globe and Mail newspaper said Justice Colin Campbell of the Ontario Superior Court served the order on Mr Black last week at the request of Hollinger Inc.
The Canadian company launched a multi-million dollar lawsuit against Black and others in July for alleged fraud in connection with the sale of newspapers in the mid-1990s from Hollinger Inc to Hollinger International.
The claim was just the latest in a series of legal woes involving Mr Black and his companies.
Earlier, Hollinger International sued Mr Black and Hollinger Inc for allegedly looting company assets.
Mr Black was briefly the major shareholder of the Fairfax group in Australia in the 1990s.
The current threshold limits on foreign investment in the Australian print media were established by the former Labor Government in April 1993, in response to the application by Mr Black for a controlling interest in the Fairfax newspaper group.
Last year, Mr Black pleaded not guilty to US criminal charges including racketeering and obstruction of justice in a probe into the alleged looting of his corporate empire.
He was released on bail ahead of a trial scheduled for March 1, 2007.