Zell Sues Tribune Investors To Ensure Buyout Recoveries

Law360, New York (December 20, 2011, 10:39 PM EST) -- Billionaire Sam Zell, whose $8.3 billion leveraged buyout of Tribune Co. allegedly helped drive the company into bankruptcy, launched two suits against Tribune investors Monday in Illinois state court asserting Zell and other creditors should be paid even if a court rules the buyout was fraudulent.

Zell launched the suits through a number of companies led by investor EGI-TRB LLC, arguing that although the buyout was legitimate, EGI-TRB should be entitled to recover a portion of the $315 million it lost in the transaction should a...
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