The publisher of the Baltimore Jewish Times and its former printer have now blown a third deadline set by a federal judge to submit a joint plan to take the company out of bankruptcy, and the years-long feud goes on.
The publisher of the Baltimore Jewish Times and the publication’s former printer have missed a third deadline set by a federal judge to submit a joint plan to take the company out of bankruptcy, and the years-long feud goes on.
The lawyer for the publisher, Alter Communications, said Wednesday that a unilateral plan filed by the company and opposed by a key creditor presents the “only viable option” to save the company.
Days after the plan to have investors take a majority interest was filed in U.S. Bankruptcy Court in Baltimore, the creditor, printer H.G. Roebuck & Son, Inc., formally objected and asked the court to name a Chapter 11 trustee; Alter’s lawyer said the company will file a motion opposing a trustee.
“No grounds for appointment of a trustee are present here,” said Maria Ellena Chavez-Ruark, lawyer for Alter Communications.
She said the plan Alter filed last week would have an investor group put $600,000 into the company and take an 80 percent ownership share. She said the investor group, headed by Dr. Scott Rifkin, the managing partner of Mid-Atlantic Health Care LLC, approached Alter in the fall and talks began.
“They are our white knight,” said Chavez-Ruark, adding that Roebuck took part in discussions with the investor group.”They want to see this company survive.”
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That newspaper long since gave up trying to serve the Orthodox community in Baltimore (which is larger than than the non-Orthodox, at least within the city limits). Arguably it has evolved into a suburban newspaper with large amount of Jews news. They frequently are anti-Orthodox, and most frum Jews in the city support a boycott of it (which is probably a reason why it is in bankruptcy). There are alternative frum media in Baltimore.
Not only is it often anti-Orthodox, but it is full of content which is abhorred by upstanding morally sound people regardless of their level of Orthodoxy. I’m not sure why this even merits posting on YWN….