Judge: Tribune Bankruptcy Case 'Stuck'
March 21, 2011 at 4:06 AM (PT)
U.S. Bankruptcy Court Judge KEVIN CAREY said FRIDAY that the TRIBUNE CO. bankruptcy case is deadlocked, with the CHICAGO TRIBUNE reporting that CAREY said "The parties are stuck. We're in the middle of a multi-constituent ... melee."
Confirmation hearings over the two competing proposals for reorganization have been ongoing since MARCH 7th and CAREY said that while he sees strengths and weaknesses in each plan, he may confirm neither and instead appoint a trustee.