Philly News Lenders Fight To Keep Delivery Contracts

Law360, New York (January 7, 2010, 12:48 PM EST) -- Secured lenders for bankrupt Philadelphia Newspapers LLC have asked a judge to reconsider allowing the newspaper company to break off contracts with third-party distributors, contending that the move may constitute poor business judgment and could actually hurt the company's bottom line.

The consortium of lenders, led by administrative agent Citizens Bank of Pennsylvania, filed a motion Wednesday in the U.S. Bankruptcy Court for the Eastern District of Pennsylvania seeking reconsideration and further asking that the judge halt any efforts to reject the contracts until after an...
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