Tribune Wants More Time, Creditors Want To Sue
February 3, 2010 at 4:28 AM (PT)
While TRIBUNE CO. is asking for court approval to extend the time it has to exclusively file a reorganization plan, the company's official committee of unsecured creditors is asking for court approval to sue the parties who bought out TRIBUNE in 2007.
The creditors committee filed its motion in U.S. Bankruptcy Court in DELAWARE on MONDAY. TRIBUNE's own motion asked for an extension of time to file its reorganization plan from FEBRUARY 28th to JUNE 8th, and addressed the creditors' action by noting in its own motion that simultaneously pursuing negotiations and litigation is a common creditor strategy.
The motions will be heard by the court on FEBRUARY 18th.