Former Free Lance-Star committee issues stayed in light of settlement

By Caroline Salls

Pittsburgh, Aug. 4 – A motion filed by VA Newspaper Debtor Co. (formerly The Free Lance-Star Publishing Co. of Fredericksburg, Va.) asset purchaser DSP Acquisition, LLC to disband the company’s official committee of unsecured creditors has been stayed, according to a Friday filing with the U.S. Bankruptcy Court for the Eastern District of Virginia.

The order also stays the committee’s motion for a change in membership.

Specifically, the motions were stayed until they are withdrawn with prejudice in accordance with a global settlement agreement reached on July 24 or until 10 business days after the termination of the settlement.

As previously reported, the settlement was approved by the court on Thursday.

Free Lance-Star, a Fredericksburg, Va.-based publishing, newspaper, radio and communications company, filed bankruptcy on Jan. 23, 2014. The Chapter 11 case number is 14-30315.

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