Tribune Ch. 11 Judge Resolves Creditor Allocation Disputes

Law360, Wilmington (April 10, 2012, 9:29 PM EDT) -- A Delaware bankruptcy judge tied up an important loose end in Tribune Co.'s bankruptcy on Monday, issuing an opinion on how recoveries under the media giant's reorganization plan and proceeds from associated lawsuits will be split between junior creditors.

In a 50-page opinion, U.S. Bankruptcy Judge Kevin J. Carey resolved the so-called allocation disputes, which largely concern the effect of certain subordination agreements on the order in which unsecured noteholders and other creditors will receive payments under the plan.

One of the allocation disputes centered on...
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