Oct. 12, 2010 at 11:05 a.m.
Filed under:
Bankruptcy,
Media,
TV
Tribune Co. and several of its most important creditor groups announced a broad new settlement Tuesday that brings the company closer to resolving its nearly two-year-old bankruptcy case.
The new pact includes a group of senior lenders who had been holding out on a compromise, the company said, as well as the Official Committee of Unsecured Creditors in the case, which represents junior creditors.
Still absent from the settlement, however, are several key junior creditor groups including major bondholder Aurelius Capital Management, a litigious New York hedge fund known for disrupting large bankruptcy cases. Sources close to Aurelius have said the fund plans to file its own plan by the court imposed Oct. 15 deadline. Get the full story »