Wednesday, October 28, 2009
New Details Emerge About Sun Gazette Parent Company's Bankruptcy
According to the Web site netdockets.com, the Sun Gazette's parent company, American Community Newspapers, LLC and ACN LLC's secured creditors repeatedly attempted over the course of three months to use a Federal bankruptcy court to prevent ACN's unsecured creditors, mostly small businesses, from being paid for their goods and services. American Community Newspapers LLC was sold to it's secured creditors on June 29th. The secured creditors consist of a consortium of 9 financial institutions with General Electric Credit as lead bank. The Federal bankruptcy judge ultimately determined on October 7th to dismiss ACN LLC from bankruptcy since ACN's secured creditors had already acquired an $80 million company free of liens and encumbrances and depriving small business tradespeople of income would be unfair.
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10 comments:
I was one of the unsecured creditors. Mr. McCaffrey was well aware that we were not being paid and the lenders and ACN were trying not to pay us. They spent $500,000 in legal fees trying not to pay us. These people are slime and I refuse to deal with them again.
I understand that neither American Community Newspapers nor the Arlington Chamber of Commerce has a code of ethics.
McCaffrey endorsed Bob McDonnell and Jay Fisette. Fisette, as it turned out, used tens of thousands of taxpayer funds for an extravagant Newseum party where he campaigned for County Board just as it was announced that the County would suffer a huge budget deficit next year. Now Fisette is in D.C. campaigning for Gay Marriage there, while we're anxiously awaiting to see when Arlington's children will be vaccinated against H1N1. So why should I have anything whatever to do with Jay Fisette, or whatever garbage McCaffrey and his newspaper are into?
McCaffrey is claiming the Sun Gazette's endorsemetns were made by a committee. Not according to a Sun Gazette staffer who said the decsions "were all Scotty's".
Arlington Chamber of Commerce is a Country Club
I am another of the unsecured creditors and I am finally getting paid. The Sun Gazette actually called me and asked if I wanted to advertize in the newspaper.
Fisette was endorsed by the Chamber of Commerce and McCaffrey published the endorsement as though it was made by him and his newspaper.
Yes, the Arlington Chamber of Commerce is a country club. If your ancestors didn't arrive in Jamestowne in 1607 don't bother joining.
Fisette, the Sun Gazette, and the Chamber of Commerce obviously don't care that Arlington's homeowners will be hit with a huge tax increase next year. Some Republicans.
Scott McCaffrey has been repeatedly characterized a PR flack for the Town of Vienna's machine government by the Historic Vienna blog.
Scotty just wrote a long feature about Arlington's squirrel population. In case you thought he was at all interested in important stuff, like next year's county budget.
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