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The battling parties in Tribune Co.’s fractious bankruptcy case planned to sit down Monday for another day of mediation aimed at forging a settlement of legal claims surrounding the company’s 2007 leveraged buyout.
But at a status hearing in Delaware before the mediation session began, U.S. Bankruptcy Judge Kevin Carey spent much of his time anticipating how to proceed assuming the mediation fails. Get the full story »
Tribune Co.’s attempts to exit bankruptcy court will be delayed at least until October, but could extend even beyond that as the company and its creditors dive into a new round of negotiations aimed at finally settling the 20-month-old Chapter 11 case.
The delay is an acknowledgment that an examiner’s report about the propriety of the company’s 2007 leveraged buyout has upset a previous settlement in the case and forced the company to redouble efforts to win the approval from a range of dissident creditors. Get the full story »
