Tuesday, March 31, 2009
News CL CEO keeps company — UPDATED
Posted by Mara Shalhoup on Tue, Mar 31, 2009 at 7:00 PM
Fresh from a Tampa courtroom, our colleague Wayne Garcia has the scoop on CL's ownership dispute:
- Federal Judge Caryl E. Delano has ruled in Creative Loafing CEO Ben Eason’s favor, denying major creditor Atalaya’s motions to take control of the company.
- Though Eason keeps the company, Judge Delano ruled that the reorganization plan put forth by CL would be tough to confirm.
- As a result, the judge is suggesting mediation for the two sides to come up with a mutually compatible reorganization plan.
Wayne will have all the details when he returns from the courthouse later today.
Comments (5)
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Oh no. Ben has no concern about journalistic integrity and he's going to ruin the product. I'm seriously bummed. I can't believe they let Ben keep the company. GM sounds like he's kissing up. Signs that a poorly run system is gonna keep on chugging along.
relax Mr. Concerned. There should be thousands of drinks in the air for CL and all the David's that truck to the North Ave wharehouse and get their weeks keep. Bad deciscions on Eason to take a line of credit for 30 large on flegeling papers? ABSOLUTLEY! But the CL is still his blood, let 'em try and make it right. Why would anyone want to LOAN 30 milly on a dying industry is my question!? Get the right people in the room and they'll figure it out... david beat goliath for now. And it should be up to Eason on if and how the ship goes down. I've got faith , though. CL has too much Karma in 30 years!
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