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October 31, 2010

Tribune Creditors File Three Reorganization Plans

"Three different groups of creditors to Tribune Co filed rival proposals for ending the newspaper publisher's near two-year stay in bankruptcy.

The three plans, which were filed Friday with Delaware's Bankruptcy Court, will compete for creditor support against the company's proposed plan.

Like the company's plan, the proposals allow for Tribune's businesses, such as the Los Angeles Times and Chicago Tribune, to exit bankruptcy while creditors fight over how to apportion blame for its bankruptcy."

 

Read the article here.

October 31, 2010 in Current Affairs | Permalink

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