An affiliate of Paul Singer’s Elliott Management has asked a bankruptcy judge to push back a hearing on Relativity Media LLC’s proposed sale by a few days, saying that anything less would amount to a “trial by ambush,” the Wall Street Journal reported today. In bankruptcy court papers filed yesterday, the affiliate, Manchester Securities Corp., said that Relativity waited until the 11th hour to send new and conflicting information to its creditors, violating “basic notions of due process and fundamental fairness.” Manchester asked Bankruptcy Judge Michael Wiles to delay a key hearing scheduled for today until Friday, saying that the postponement would have no negative consequences for Relativity or other creditors. The new information disclosed late Friday — some of it under seal — includes essential facts and figures related to the company’s plan to hand its assets to a group of lenders, some of whom have also agreed to provide $45 million in financing to fund Relativity’s operations while in bankruptcy.
