Philly News Says Lenders' Group Acted As One Unit

Law360, New York (March 22, 2010, 2:18 PM EDT) -- Bankrupt news publisher Philadelphia Newspapers LLC has urged a district court to reverse a bankruptcy judge's denial of its motion to compel disclosure from the steering group of prepetition lenders, saying the group has consistently functioned as a committee subject to Bankruptcy Rule 2019 disclosure mandates.

The plain language of Rule 2019 requires entities representing more than one creditor to reveal detailed information about the nature of claims, and the steering group, by acting as one unit, has operated as such an entity, Philadelphia Newspapers said...
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