Bally Gets Operating Cash As Sale Talks Progress

Law360, New York (December 4, 2008, 12:00 AM EST) -- A bankruptcy court judge on Thursday reportedly gave Bally Total Fitness Corp. the go-ahead to pay its employees and access cash as talks on a possible sale of the company moved forward.

Judge Stuart Bernstein of the U.S. Bankruptcy Court for the Southern District of New York's order will last at least through a hearing scheduled for Dec. 9. The case has since been transferred over to Judge Burton R. Lifland, who Reuters reported will rehear the motions.

Kenneth Eckstein, an attorney at Kramer Levin Naftalis...
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