Tribune Creditors Submit Rival Reorganization Plans

Law360, New York (November 1, 2010, 7:23 PM EDT) -- Three groups of Tribune Co. creditors have filed competing plans to bring the newspaper publisher out of bankruptcy, with one group slamming the debtor's plan for offering "sweeping and unjustified releases" against the banks that financed billionaire Sam Zell's doomed two-part takeover of the company in 2007.

Aurelius Capital Management LP, which heads a group of investors who hold preleveraged buyout debt; a group of junior bondholders represented by Wilmington Trust Co.; and a group led by hedge fund King Street Acquisition Co. all filed competing...
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