Judge Appoints Trustee In TV Bankruptcy Case

Law360, New York (August 6, 2008, 12:00 AM EDT) -- A judge has appointed a Chapter 11 trustee in the bankruptcy case of Pappas Telecasting Inc. at the request of lenders who accused the company's chairman and CEO of using the proceedings to further his personal agenda.

Judge Peter J. Walsh of the U.S. Bankruptcy Court for the District of Delaware signed an order Tuesday granting the request from PTI’s creditors, led by Fortress Credit Corp.

Fortress is the administrative agent of a $284 million bridge loan acquired by PTI in March 2006. Under the terms...
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