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...
To view the full article, register now.

Documents

Related

Sections

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

Law360 Pro Say Podcast
Check out Law360's new podcast, Pro Say, which offers a weekly recap of both the biggest stories and hidden gems from the world of law.