Tribune Closes Marathon Ch. 11 Plan Confirmation Fight

Law360, Wilmington (June 27, 2011, 6:56 PM EDT) -- Tribune Co. ended its marathon battle of dueling reorganization plans with dissident noteholders Monday, urging a Delaware bankruptcy court to approve a settlement with senior lenders on claims stemming from Sam Zell’s ill-fated 2007 leveraged buyout of the media giant.

Tribune — joined by its senior lenders, led by JPMorgan Chase & Co., and its unsecured creditors committee — presented closing arguments on its plan to U.S. Bankruptcy Judge Kevin J. Carey, championing the $488 million proposed settlement offered by senior lenders to junior creditors....
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