Citadel Gets More Time To File Objections To Claims Against It

Citadel Gets Extra Time

Judge BURTON R. LIFLAND has granted CITADEL BROADCASTING's motion for more time to object to claims against it arising from the company's reorganization.  

The order, signed on WEDNESDAY (11/24) just before the holiday weekend, gives CITADEL until FEBRUARY 28, 2011 to file its objections.

In CITADEL's motion, the company said, "2,113 Claims were filed or scheduled during these chapter 11 cases, to date, the Debtors have objected to 204 Claims.  Approximately 407 disputed and/or unreconciled Claims remain outstanding, to which formal objections have not yet been filed. In that regard, the Debtors (a) are in on-going settlement negotiations with certain holders of Unresolved Claims and (b) continue to review and reconcile the remaining Unresolved Claims."

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