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Published on 9/22/2010 in the Prospect News Distressed Debt Daily.

Philadelphia Newspapers reporters seek access to closed assets auction

By Caroline Salls

Pittsburgh, Sept. 22 - Philadelphia Newspapers, LLC reporters Christopher Hepp and Michael Hinkelman have asked the U.S. Bankruptcy Court for the Eastern District of Pennsylvania to allow them to attend the Sept. 23 auction for the company's assets, according to a Tuesday court filing.

Hepp and Hinkelman said the court closed the auction to the public at a Sept. 16 conference at the request of the counsel for the company's secured creditors.

The reporters said bankruptcy proceedings are generally open to the public and there is no justification under the Bankruptcy Code to limit public and press access in this case.

"Public access is of particular value in a bankruptcy case such as this one, where the interests of hundreds, if not thousands, of creditors, employees and other stakeholders are affected," Hepp and Hinkelman said in the motion.

Philadelphia Newspapers, based in Philadelphia, owns the Inquirer, the Philadelphia Daily News and Philly.com. The company filed for bankruptcy on Feb. 23, 2009, and its Chapter 11 case number is 09-11204.


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