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Tribune Noteholders Revise Ch. 11 Plan

Law360 (March 28, 2011, 10:59 PM EDT) -- A group of Tribune Co. noteholders filed a revised reorganization plan for the bankrupt company Monday, decreasing the amount of money set aside for lawsuits stemming from Sam Zell’s ill-fated 2007 billion leveraged buyout of the media giant.

The junior noteholders, led by hedge fund Aurelius Capital Management LP, amended the plan in the U.S. Bankruptcy Court for the District of Delaware to increase the percentage of equity value in the reorganized company that would be distributed to creditors on the plan’s effective date.

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