Freedom Creditors Seek Alternative Plan Proposals

Law360, New York (November 10, 2009, 5:50 PM EST) -- Freedom Communications Holdings Inc. has again drawn fire from its unsecured creditors, which this time accuse the newspaper publisher of abandoning efforts to seek out the best reorganization plan proposal by deciding on a prepetition plan without their input.

In a motion filed Tuesday in the U.S. Bankruptcy Court for the District of Delaware, the official committee of unsecured creditors said it wanted to conduct a solicitation process intended to seek out “higher and better” alternative plan proposals — a responsibility it said the debtors have...
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