Tag Archive: creditors rights

Third Circuit Upholds Prohibition on Credit Bid in Philadelphia Newspapers Auction

The incumbent management of the bankrupt company that owns the Philadelphia Inquirer and the Philadelphia Daily News won a significant, but likely short lived, victory in the Third Circuit Yesterday. The Daily News reports that a three judge Thgird Circuit panel has upheld bankruptcy Judge Steven Raslavich’s ruling prohibiting the company’s creditors from using the…

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