Tribune Shareholders Can't Kick Buyout Clawback Suits

Law360, New York (May 30, 2013, 8:41 PM EDT) -- A New York federal judge on Wednesday refused to toss clawback suits brought by Deutsche Bank Trust Co. Americas and other note trustees from the sprawling multidistrict litigation surrounding real estate mogul Sam Zell’s 2007 buyout of Tribune Co., which emerged from bankruptcy in December.

U.S. District Judge Richard J. Sullivan blocked motions to dismiss the suits for lack of subject matter jurisdiction, finding the note trustees’ initial complaints alleged sufficient facts to support federal jurisdiction and that there was no bar to them perfecting technical...
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