Tribune Noteholders Want Discovery Into Buyout Deal

Law360, New York (January 24, 2011, 8:00 PM EST) -- Noteholders in the Tribune Co.’s bankruptcy fought in court on Monday for access to documents concerning the settlement of claims against lenders involved in Sam Zell’s ill-fated 2007 leveraged buyout of the media giant.

Hedge fund Aurelius Capital Management LP — which leads a group of noteholders that has filed a competing reorganization plan in the case — argued in the U.S. Bankruptcy Court for the District of Delaware that it needs additional discovery to determine if the settlement between Tribune and its lenders in the...
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