Philadelphia Newspapers Appeals Asset Sale Denial

Law360, New York (October 14, 2009, 4:19 PM EDT) -- Philadelphia Newspapers LLC has appealed a bankruptcy judge's denial of a proposed sale of substantially all the Philadelphia Inquirer publisher's assets to a consortium of local interests based on numerous objections from the U.S. trustee, the creditors committee and other lenders.

The debtor on Tuesday filed notice of its appeal to the U.S. District Court for the Eastern District of Pennsylvania of Judge Stephen Raslavich's Thursday order, which struck down the publisher's motion to approve the asset sale and related bid procedures, in the U.S. Bankruptcy...
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