Ebony Media Creditor's Ch. 11 Bid Restricted Amid Board Row

Ebony Media Creditor's Ch. 11 Bid Restricted Amid Board Row


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Ebony Media Creditor's Ch. 11 Bid Restricted Amid Board Row
Law360 (December 11, 2020, 10:37 PM EST) -- A Texas bankruptcy judge Friday sent a creditor of the owner of long-running Black cultural magazines Ebony and Jet to the company's auction with a limited ability to credit bid due to its involvement in a settlement that led to the ouster of Ebony's board.
After a remote hearing, U.S. Bankruptcy Judge David Jones said Parkview Capital Credit Inc. will only be able to put up $13 million of the $14.1 million it claims Ebony Media Operations owes at the company's upcoming Chapter 11 auction as a consequence of a deal it struck with members of the publisher's board that blocked...

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