Wilmington Trust Wants Examiner To Probe Tribune LBO

Law360, New York (January 14, 2010, 7:56 PM EST) -- A major bondholders' trustee for bankrupt news giant Tribune Co. says the only way to protect the interest of bondholders is to appoint an examiner to investigate a 2007 leveraged buyout that left Tribune with debts surpassing $11 billion.

Wilmington Trust Co., indenture trustee for exchangeable subordinated debentures worth about $1.2 billion, lodged a motion Wednesday in the U.S. Bankruptcy Court for the District of Delaware urging a court to appoint an examiner to look into the buyout, absent which “the debtors would not be in...
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