Equity Media Lender Seeks Ch. 7 Conversion

Law360, New York (December 10, 2008, 12:00 AM EST) -- A lender of $41.5 million to Equity Media Holdings Corp., the television station owner that filed for Chapter 11 bankruptcy protection Monday, has asked a bankruptcy court to dismiss the case or convert it to a Chapter 7 liquidation because the company does not have the money to reorganize successfully.

In an emergency motion filed Tuesday in the U.S. Bankruptcy Court for the Eastern District of Arkansas, private equity firm Silver Point Finance LLC asked the court to convert the case, dismiss it or lift the...
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