McClatchy Junior Creditors Want to Probe Hedge Fund Debt Deals

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McClatchy Co.’s junior creditors have joined the U.S. government’s pension insurer in calling for an independent investigation of debt transactions between the newspaper publisher and a hedge fund poised to acquire the company when it leaves bankruptcy. The official committee of unsecured creditors in McClatchy’s chapter 11 case on Tuesday sought permission from a New York bankruptcy judge to gather testimony, communications and documents concerning deals that elevated Chatham Asset Management LLC’s debt holdings over other...

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