Journal Register Halts Auction For $122M Stalking Horse Deal

Law360, New York (February 12, 2013, 8:59 PM EST) -- Newspaper group Journal Register Co. announced Tuesday that it had scrapped Friday's scheduled bankruptcy auction due to lack of interest and would seek court approval for its sale to $122 million stalking-horse bidder, a unit of hedge fund Alden Global Capital LLC.

JRC filed the cancellation notice in New York bankruptcy court after no qualified bidders emerged by the Monday afternoon deadline to challenge stalking horse 21st CMH Acquisition Co., whose offer is primarily based on debts held by other Alden units.

CMH's offer includes a...
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Case Information

Case Title

Journal Register Company


Case Number

1:12-bk-13774

Court

New York Southern

Nature of Suit

Date Filed

September 5, 2012

Law Firms

Companies

UK Financial Services

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