Creative Loafing's CEO and Creditors Both Confident About Auction

august 20, 2009  08:52 am
No surprise here: Creative Loafing CEO Ben Eason and the company's largest creditor Atalaya Capital Management both tell the Atlanta Journal-Constitution they have high hopes for next week's auction of the company in Tampa bankruptcy court. "I think we are absolutely the best bid," Eason says. "Any bid has got to have cash, management and know-how, and be in a position to run the business and pay off debt. ... We have all of that." But Atalaya managing partner Michael Bogdan begs to differ. "We are going to come into court with a bid we believe will prevail," he says. "And if somebody starts with higher bid (sic), we are absolutely willing to raise our bid." It's expected that Atalya will bid a higher dollar figure than Eason's group, but Eason has said he will ask the judge to consider publishing expertise as part of deciding what the "highest and best" bid for the six-paper company is. The auction is slated for Tuesday, Aug. 25.