Tribune Creditors Sue Zell, Lenders Over Failed LBO

Law360, New York (November 2, 2010, 4:35 PM EDT) -- Unsecured creditors in the Tribune Co. bankruptcy have filed suits against the newspaper publisher's one-time management, billionaire Sam Zell and lenders such as JPMorgan Chase Bank NA over their roles in a leveraged buyout that the creditors say was “tainted from start to finish” and killed the company.

The official committee of unsecured creditors of Tribune filed two complaints Monday in the U.S. Bankruptcy Court for the District of Delaware, one targeting Zell, current and former corporate officers, subsidiary officers, and shareholders over Zell's doomed takeover...
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