Junior Lenders Plan To Take Tribune Chairman Sam Zell's Deposition
June 17, 2010 at 4:39 PM (PT)
Dissident TRIBUNE CO. lenders have served notice that they will take TRIBUNE Chairman SAM ZELL's deposition on JUNE 28th.
WELLS FARGO BANK N.A., through law firms WHITE AND CASE LLP and FOX ROTHSCHILD LLP, plans to depose ZELL at WHITE AND CASE's offices in NEW YORK. The junior lenders involved in the deposition have alleged that ZELL's deal to buy TRIBUNE out was fraudulent, and object to the company's reorganization plan that would leave them with only about $7 million while senior lenders would get much more.