Creditors Blast Anderson's Tolling Agreement Bid

Law360, New York (August 2, 2011, 7:02 PM EDT) -- Creditors of Anderson News LLC on Monday blasted the defunct magazine wholesaler's proposal in Delaware bankruptcy court for a two-year tolling agreement that they say could prevent them from pursuing up to $75 million in claims.

In a response motion, the creditors, including American Media Inc. and Bauer Magazine LP, say that Anderson is merely attempting to protect insiders in the hopes that its severely wounded antitrust suit against five major magazine publishers and distributors will provide enough money to cover all claims.

“The express —...
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