Tribune Creditors Want Special Counsel To Investigate Zell Buyout
August 17, 2009 at 4:55 AM (PT)
TRIBUNE CO. creditors are asking that they be permitted to hire a special counsel to investigate SAM ZELL's leveraged buyout of the bankrupt media giant, reports the CHICAGO TRIBUNE.
The request in bankruptcy court in DELAWARE follows last week's report that a reorganization plan being considered by creditors would take ZELL out of his management position with the company. ZELL has until NOVEMBER 30th to file his own reorganization plan, after which creditors will be able to file their own plan.
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