Tribune Judge Mulls Lifting Stay Of LBO Clawback Suits

Law360, Wilmington (February 2, 2012, 8:53 PM EST) -- Tribune Co. lobbied a Delaware bankruptcy judge on Thursday to maintain a stay of dozens of lawsuits seeking to claw back billions from the media giant’s former shareholders, saying the litigation will distract from efforts to end its marathon stint in Chapter 11.

The 44 fraudulent conveyance suits, now merged in a multidistrict litigation in New York, were filed by Deutsche Bank Trust Co. Americas and two other trustees for Tribune noteholders, taking aim at the $8 billion received by shareholders in the ill-fated 2007 leveraged...
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