Bankruptcy Judge Allows Tribune LBO Suits To Proceed

Law360, Wilmington (March 15, 2012, 6:44 PM EDT) -- A Delaware bankruptcy judge on Thursday issued an order setting in motion dozens of lawsuits seeking redress for Tribune Co. creditors over the 2007 leveraged buyout that handed billions to former shareholders and tipped the media giant into bankruptcy.

U.S. Bankruptcy Judge Kevin J. Carey partially lifted a stay of the lawsuits to allow creditor plaintiffs and other parties to potentially enter settlements or comply with orders from the New York federal court, where the suits have been merged in multidistrict litigation, according to the order....
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