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The complaint also referred to a lawsuit filed by the Los Angeles Times in mid October accusing the Register of breach of contract and failure to pay about $2.5 million in fees for executing the newspaper. home buying suit alleged that the Register been falling behind in payments since 2013.
In a message, Kushner said the times "Refused to guarantee continuous delivery of our paper,
purchasing, Which alleged that compensation may exceed $4 million, Terminated its everyday use agreement with the paper in early October after the Register switched to other vendors.
radio sought for O
Abbey and Old Colony backed by the land sale a year ago, Said Freedom spokesperson Eric Morgan. He called their criticism "Meritless and misguided" And said Freedom is not considering your bankruptcy.
Abbey Financial and Old Colony 2012 expenditure Fund said in their complaint, Filed in complete confidence with the Delaware Chancery Court last week and disclosed this week, That Freedom needs independent oversight fast.
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Silver Point spokesman declined to comment.
silver precious metal Point, A part of Silver Point Capital in Greenwich, Conn, Holds the mortgages on all of Freedom's real property as well as a first priority lien on their other assets, using the complaint.
at the same time, Dozens of employees have got buyouts or been laid off.
The investors said the operation faces when you need it "Posed by an imminent sale of a huge real estate asset and the financial distress of the company due to mismanagement,
Freedom sold the Register's secret headquarters for $27 million in September to developer Michael Harrah and then leased back the space. Harrah said last month that he also was negotiating to find the land nearby.
a type of new dailies, lengthy Beach Register, Now is published every sunday only. one more, The are usually Register, Was shuttered in september, Five months after it available.
After Kushner's 2100 Trust bought Freedom two issue for a reported $50 million to $60 million, the particular business went on a hiring spree, presented two new daily papers and bought the Riverside Press Enterprise for nearly $27.3 million.
In alleging that Freedom is financially troubled, The complaint said an additional has spent at least the past nine months "Placating" Creditors that are pressuring the firm "To the hinderance of other creditors,
The complaint cited two examples of the company's inability to pay off loans and other obligations "As they become due in the ordinary course of business,
The lawsuit by minority shareholders is the latest sign of strife at a company that this year has endured rounds of layoffs, lawsuits, Leadership shake ups and the launching and closing of a new daily paper in denver.
Abbey and Old nest, Both in ma, Accused Kushner and Spitz going through "Abdicated their independent decision making household tasks in favor of the company's lender,
Two investors in Freedom marketing and sales communications are asking a Delaware court to put the Santa Ana newspaper company into receivership, Saying who owns the Orange County Register is "insolvent" since beset by "Mismanagement,
continue for month, The Register named former casino executive Richard Mirman to interchange Kushner as publisher, Which some analysts said was a move to soothe far more uneasy investors.
"Things are starting to catch up with Aaron Kushner every which way, thought Gabriel Kahn, A USC journalism professor.
As an example, The traders alleged that Freedom defaulted on a loan from Silver Point, Though the exact amount of the loan remained confidential in court papers.
Initial offers on the spot were due on Oct. 22, Said Justin Esayian your Hoffman Co, replica tiffany jewelry outlet
The brokerage from Freedom. Freedom didn't set an asking price but received a substantial number of offers, Which it is examining, Esayian documented.
The complaint alleges that Freedom co owners Aaron Kushner and Eric Spitz allowed lender Silver cheap tiffany jewelry
Point Finance to have outsized influence over the media company's financial decisions, this kind of as a planned sale of a 14.3 acre plot surrounding the Register's Santa Ana secret headquarters.
Morgan documented, The court rejected the investors' motion Thursday to tiffany jewelry outlet
expedite the session of a receiver. Attorneys for the investors did not react to requests for comment.
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