Creditors Seek To Pursue Anderson Affiliates For $70M

Law360, New York (October 14, 2011, 2:21 PM EDT) -- Magazine publishers seeking roughly $70 million from bankrupt wholesaler Anderson News LLC sought a judge's go-ahead on Thursday to pursue their claims against 10 Anderson affiliates, claiming conflicts of interest would keep the company from bringing the suits itself.

The magazine creditors, which include American Media Inc. and Time/Warner Retail Sales & Marketing Inc., accused Anderson of refusing to pursue the claims because of cozy relationships between the affiliates' management teams. Brothers Charles and Joel Anderson run seven of the 10 affiliates in question, which owe...
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