Lenders Try To Stall Philly Papers Auction For Appeal

By Evan Weinberger

Law360, New York (November 11, 2009, 4:58 PM ET) -- Bank lenders that recently lost their ability to use more than $318 million in credit to bid on bankrupt newspaper company Philadelphia Newspapers LLC have asked a district judge to postpone the auction of the company while they take their case to a federal appeals court.

In a motion filed Tuesday in the U.S. District Court for the Eastern District of Pennsylvania, the steering group of prepetition lenders to Philadelphia Newspapers and Citizens Bank of Pennsylvania asked Judge Eduardo C. Robreno to push back an auction...
To view the full article, take a free trial now.

Already a subscriber? Click here to login

You must correct or enter the following before you can submit this form:

All fields required

  5. Required

Only Law360 gives you:

Non-stop coverage of high-stakes litigation across 30 practices

Real-time tracking and reports on 10,000+ companies, firms and industries

Over 80,000 attorney profiles with neutral data collected from active lawsuits

Research tools to find cases, court documents, attorneys and companies

Customized feeds and alerts that can easily be shared with colleagues

In-depth expert analysis from high-profile attorneys at top firms

Access to our vault with over 75,000 original articles