Freedom Paper Carriers Appeal OK Of Cash Collateral

Law360, New York (October 19, 2009, 6:20 PM EDT) -- A group of paper carriers that settled a class action against the now-bankrupt newspaper publisher Freedom Communications Holdings Inc. in 2008 has appealed a bankruptcy court's decision to allow the debtor to use prepetition lenders' cash collateral over objections by the carriers and unsecured creditors.

The paper carriers filed notice of their appeal of the order authorizing Freedom's use of prepetition lenders' cash collateral in the U.S. Bankruptcy Court for the District of Delaware on Friday. Judge Brendan L. Shannon granted the order Thursday.

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