Negotiations Implode In Tribune Ch. 11

Law360, New York (August 20, 2010, 8:27 PM EDT) -- Negotiations to put Tribune Co. on the path out of bankruptcy imploded Friday as key creditors backed out of a settlement covering potential shareholder claims over a 2007 buyout of the media conglomerate.

At a confirmation status hearing before Judge Kevin J. Carey in the U.S. Bankruptcy Court for the District of Delaware, James Conlan, attorney for the debtor, announced that Tribune Co. would be filing amendments to its reorganization plan in response to certain creditors leaving the table, essentially scrapping the entire process up to...
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