Creditors ask judge to delay the sale of UPI.
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A committee representing UPI’s unsecured creditors is seeking the delay of the sale of the news agency to Mexican newspaper publisher Mario Vazquez Rana on grounds that the auction process was “overly expeditious.” The creditors told a federal bankruptcy judge that a competing bidder, a group represented by Financial News Network of Santa Monica, is now offering 20 cents more on the dollar. A hearing is scheduled for today.
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