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Shareholders in OC Register Parent Push For Receivership

Law360, Wilmington (November 5, 2014, 9:27 PM EST) -- Minority shareholders in the publisher of the Orange County Register asked the Delaware Chancery Court to put the firm into receivership in a lawsuit unsealed late Tuesday, claiming it needs independent oversight because the company is insolvent and in financial distress from mismanagement.

In a heavily redacted complaint, Abbey Financial LLC and Old Colony 2012 Investment Fund LLC — two companies that invested in greeting card mogul Aaron Kushner's acquisition vehicle to purchase Freedom Communications — say the court needs to fast-track consideration of its request to place 2100 Freedom Inc. and all of its subsidiaries under receivership in part because...

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