Tribune Bondholders Seek Probe Of $8.3B Buyout

Law360, New York (August 27, 2009, 4:24 PM EDT) -- A collective of Tribune Co. bondholders has asked the judge overseeing the company's bankruptcy for an order allowing it to investigate an $8.3 billion leveraged buyout it says saddled the company with debt.

Tribune Co. successor trustee Law Debenture Trust Company of New York and Citibank N.A., which represent the fiduciary interests of more than 18 percent of Tribune’s bondholders, filed a motion seeking Rule 2004 discovery Aug. 26 in the U.S. Bankruptcy Court of Delaware to probe a 2007 leveraged buyout.

The bondholders say billionaire...
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