Tribune Creditors Win Potential Halt to Bankruptcy Plan
Posted: 8/24/2012 | By: Steven Church and Dawn McCarty | Bloomberg
Tribune Co. creditors won the chance to temporarily halt the television and newspaper company’s exit from bankruptcy should they agree to post a $1.5 billion bond, a judge ruled.
U.S. Bankruptcy Judge Kevin Carey agreed with noteholders who claimed they would be “irreparably harmed” if Tribune exits bankruptcy before creditors have a chance to try to overturn the company’s reorganization plan by appealing it to a higher court.
U.S. Bankruptcy Judge Kevin Carey agreed with noteholders who claimed they would be “irreparably harmed” if Tribune exits bankruptcy before creditors have a chance to try to overturn the company’s reorganization plan by appealing it to a higher court.