Trustee Balks At Star Tribune Disclosure Statement

Law360, New York (July 21, 2009, 4:30 PM EDT) -- The U.S. trustee has objected to the proposed disclosure statement of media company Star Tribune Holdings Corp., claiming the statement doesn't contain adequate information regarding third-party releases.

In a motion filed Monday in the U.S. Bankruptcy Court for the Southern District of New York, U.S. Trustee Diana G. Adams contends the disclosure statement can't be approved without amendments.

Specifically, the trustee objects to the discharge of nondebtor third parties, alleging that neither the disclosure statement nor the proposed reorganization plan explains why the releases are warranted....
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