Objections Pour In Over Phila. Papers' Ch. 11 Plan

Law360, New York (June 21, 2010, 5:49 PM EDT) -- Philadelphia Newspapers LLC's latest bankruptcy plan has triggered a slew of objections, with protesters claiming that unauthorized petitions would jeopardize pension funds and other creditors after the company's planned asset sale to a group of lenders.

Ten objections were filed Friday in the U.S. Bankruptcy Court for the Eastern District of Pennsylvania by several pension funds and individuals, as well as creditor The McClatchy Co., to the company's second amended joint Chapter 11 plan filed in May.

The objections refer specifically to Article X of the...
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