UPI stopped trying to void its labor contract.
The chairman of the beleaguered wire service said he has dropped efforts to ask a federal bankruptcy judge to void the contract after a meeting with the judge and members of the union. Luis Nogales also said he has asked the Wire Service Guild to help search for a buyer for UPI. The wire service has been trying to reorganize under Chapter 11 of the U.S. Bankruptcy Code since late April. Nogales had argued that labor concessions were necessary to attract a buyer. The union had argued that any contract talks should wait until a new owner was found. UPI has set a Monday deadline for expressions of interest from potential buyers.