Judge Gives Tribune Co. Green Light On Ch. 11 Exit Plan

Law360, New York (July 13, 2012, 10:56 PM EDT) -- A Delaware bankruptcy Judge on Friday agreed to greenlight Tribune Co.’s Chapter 11 reorganization plan handing over the publisher’s assets to senior lenders led by JP Morgan Chase & Co. and others, overruling the remaining objections to the plan.

In a 35-page opinion, U.S. Bankruptcy Judge Kevin J. Carey asked Tribune to amend its fourth amended reorganization plan, filed April 17, saying he would approve the plan after the debtors tweak it to reflect the compromises with parties including former employees, who had raised issues over...
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