Fraud puts brakes on McClatchy bankruptcy filing?

The court is putting the brakes on dumping the McClatchy pensions onto the federal pension program because of suspected chicanery between McClatchy and Chatham Asset Management.

Chatham, its largest shareholder, plans to take over McClatchy.

In 2018 Chatham and McClatchy put their heads together and increased the McClatchy debt from $344 million to $670 million so that Chatham had to be repaid before McClatchy could meet its pension obligations.

Since McClatchy was insolvent before the extra debt, that’s fraud, the government says.

Check it out by going to

https://www.msn.com/en-us/news/us/pension-agency-questions-actions-of-mcclatchys-largest-lender-prior-to-bankruptcy-filing/ar-BB100RpP