Freedom Paper Carriers Howl At Disclosure Statement

Law360, New York (December 8, 2009, 4:01 PM EST) -- The newspaper carrier plaintiffs in a settled class action against bankrupt news publisher Freedom Communications Holdings Inc. have struck out at Freedom’s proposed disclosure statement, saying the related Chapter 11 plan was negotiated to freeze out all but the largest bank creditors.

The plan proposed by the debtors is not the product of negotiations with unsecured creditors and is fatally flawed, the paper carriers said in the U.S. Bankruptcy Court for the District of Delaware on Monday. The statement does not contain the information required for...
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