McClatchy won a number of court decisions in a hearing
March 25. The decisions “cleared the way for short-term financing and kept
alive the local news organization’s hope for a fast exit from bankruptcy,” said
a story from the company’ s Washington
Judge
Michael E. Wiles approved $50 million for McClatchy to turn to during the
bankruptcy.
The hearing
also zeroed in on an investigation into transactions between McClatchy and its
top creditor, as a government lawyer claimed that the case likely depends on
the matter, the story reported.
Wiles ruled
against two motions: one aimed at removing McClatchy’s outside legal counsel
and another to stop a second law firm from looking into the transactions.
The hearing
took place by telephone.
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