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Judge postpones hearing in Creative Loafing standoff

Creative Loafing, the Tampa-based publisher of alternative weekly newspapers, got a reprieve of at least a month in its efforts to defeat a takeover attempt from its biggest creditor. The newspaper chain filed for Chapter 11 bankruptcy Sept. 29, and chief executive Ben Eason must convince U.S. bankruptcy Judge Caryl Delano that he's best able to reorganize the company. Opposing Eason is Atalaya, the investment company that loaned the newspaper chain at least $30-million in 2007. Creative Loafing used the money in part to acquire the Washington City Paper and Chicago Reader. During a court appearance Thursday, Delano postponed a hearing on the takeover attempt to Jan. 26.

Judge postpones hearing in Creative Loafing standoff 12/18/08 [Last modified: Friday, December 19, 2008 2:20pm]
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