PBGC Says McClatchy Ch. 11 Moving Too Fast

Law360 (February 14, 2020, 6:16 PM EST) -- The Pension Benefits Guaranty Corp. told a New York bankruptcy judge Friday that newspaper chain McClatchy Co. is trying to move forward with its Chapter 11 plan too fast for creditors to organize or company finances to be probed.

At the hearing for McClatchy's first-day motion, the PBGC protested that under the company's proposals it will begin soliciting votes on its Chapter 11 plan Feb. 24, before the unsecured creditors committee is formed and before the PBGC says it can get information it is seeking about a 2018 debt refinancing involving McClatchy's proposed new owner.

"This timeframe is extremely truncated," PBGC...

Stay ahead of the curve

In the legal profession, information is the key to success. You have to know what’s happening with clients, competitors, practice areas, and industries. Law360 provides the intelligence you need to remain an expert and beat the competition.

  • Access to case data within articles (numbers, filings, courts, nature of suit, and more.)
  • Access to attached documents such as briefs, petitions, complaints, decisions, motions, etc.
  • Create custom alerts for specific article and case topics and so much more!


Hello! I'm Law360's automated support bot.

How can I help you today?

For example, you can type:
  • I forgot my password
  • I took a free trial but didn't get a verification email
  • How do I sign up for a newsletter?
Ask a question!