DOVER, Del. (AP) — A federal bankruptcy judge in Delaware will hold a hearing next month to address appeals challenging his approval of the Tribune Co.’s reorganization plan.
Judge Kevin Carey told attorneys on Wednesday that he will hold the hearing on Aug. 17.
Separate appeals were filed this week by hedge fund Aurelius Capital Management and other creditors in opposition to Tribune’s reorganization plan. The appeals challenge the fairness of a settlement of legal claims against banks that financed Tribune’s 2007 leveraged buyout. They also challenge the treatment of certain bond holders under Tribune’s plan.
Tribune publishes several major newspapers in the U.S. and owns television stations as well. The company sought bankruptcy protection after the $8 billion buyout, led by billionaire Sam Zell, left it saddled with $13 billion in debt.
