Zell-Owned Co. Fights Tribune Ch. 11 Plan Over $225M Claim

Law360, Wilmington (May 21, 2012, 8:55 PM EDT) -- A company owned by billionaire Sam Zell, the architect of the disastrous 2007 leveraged buyout of Tribune Co., complained on Monday that its $225 million claim has been unfairly relegated to the back of line to be repaid in the media giant's bankruptcy.

In an objection to Tribune's latest reorganization plan, EGI-TRB LLC said the Delaware bankruptcy court improperly subordinated its claim to those of other junior creditors, who will get first dibs at potential recoveries from a trust set up to pursue lawsuits over the...
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