Creditors File To Force BizRadio Into Chapter 7
April 7, 2010 at 4:28 AM (PT)
The HOUSTON CHRONICLE's LOREN STEFFY reports that three creditors of embattled HOUSTON-based financial talk programmer BIZRADIO have filed to force the company into involuntary Chapter 7 bankruptcy. STEPHEN C. COOK of HOUSTON, FLORENCE REILEY of BELLAIRE, MI, and KEVIN DEERING of ARGYLE, TX filed the petition last WEDNESDAY, giving BIZRADIO 21 days to respond.
The company, which recently announced the sale of its KTEK-A/HOUSTON back to SALEM COMMUNICATIONS for $3.7 million, has been embroiled in an SEC lawsuit against co-founder ALBERT KALETA that probed ties between KALETA and the radio operation.