$200M Settlement Reached In Tribune Media Clawback Suit
Law360 (May 31, 2019, 9:06 PM EDT) -- A litigation trustee urged a Delaware federal court on Friday to approve a $200 million settlement aimed at resolving part of a long-running fight over alleged fraudulent conveyance in the 2008 leveraged buyout of Tribune Media Co.
The deal would put to rest the trustee's claims against a number of former Tribune executives and employees in exchange for a payout that the Friday filing acknowledges would be "significantly" beyond available insurance coverage.
The proposed agreement doesn't spell out exactly how the contributions and payouts from the settlement fund would be split up.
"The settling defendants will be responsible for allocating individual...
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