Pappas CEO Opposes Trustee's Asset Sale Motion

Law360, New York (December 8, 2008, 12:00 AM EST) -- The chairman and CEO of the 30 television stations that constitute Pappas Telecasting Inc. has objected to a bid to sell substantially all of the debtors' assets in the broadcaster's Chapter 11 bankruptcy proceedings, claiming that the assets of the debtors and nondebtor television stations must be sorted prior to auction.

In a preliminary objection filed Friday in the U.S. Bankruptcy Court for the District of Delaware, CEO Harry J. Pappas and Stella A. Pappas, creditors and equity-interest holders of PTI, argue against a Nov. 26...
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