Pension Plans Want Philly Papers Plan Halted

Law360, New York (July 2, 2010, 1:21 PM EDT) -- Two pension plans have asked a judge to put a halt to Philadelphia Newspaper LLC's reorganization plan while the funds appeal its approval, which occurred earlier this week.

The Teamsters Pension Trust Fund of Philadelphia & Vicinity and CWA/ITU Negotiated Pension Plan — which represents newspaper reporters and sales staff — filed motions Wednesday to stay confirmation in the U.S. Bankruptcy Court for the Eastern District of Pennsylvania, saying it was necessary for their appeal to be effective.

“[T]he financial calamity that will be visited upon...
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