Independent Examiner To Be Appointed In Tribune Case
April 20, 2010 at 7:12 AM (PT)
An independent bankruptcy examiner will be appointed by the end of the week in the TRIBUNE CO. Chapter 11 proceeding after the company and its creditors reached agreement on accepting Judge KEVIN CAREY's proposal for the additional inquiry. The examiner will investigate the entire case, including SAM ZELL's buyout of the company and whether the recently announced settlement between TRIBUNE and some of its creditors is fair.
Confirmation hearings on TRIBUNE's reorganization plan have been set for the week of AUGUST 16th. The deadline for the examiner's report is in mid-JULY.