Tribune Offers New Ch. 11 Plan With Eye On Feb. Exit

Law360, Wilmington (November 21, 2011, 2:10 PM EST) -- Tribune Co. on Friday lodged a third amended reorganization plan, saying the changes resolve technical defects that doomed its prior plan and should allow the media giant to end its three-year stint in bankruptcy by February.

On Oct. 31, U.S. Bankruptcy Judge Kevin J. Carey in Delaware rejected the company’s earlier plan — co-sponsored by the unsecured creditors committee and secured lenders led by JPMorgan Chase Bank NA — due to various failures to pass muster with the U.S. Bankruptcy Code, but cleared the $535 million...
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