Tribune Bondholders Win Fast Hearing Over Buyout

Law360, New York (August 28, 2009, 5:09 PM EDT) -- A group of Tribune Co. bondholders has won its bid to expedite hearings on an order that would allow an investigation into an $8.3 billion leveraged buyout the bondholders argue saddled the bankrupt media giant with debt.

Just a day after Tribune successor trustee Law Debenture Trust Co. of New York and Citibank NA filed a motion for Rule 2004 discovery of a 2007 leveraged buyout, Judge Kevin Carey of the U.S. Bankruptcy Court for the District of Delaware approved the bondholders’ motion to shorten the...
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