Tribune Co.'s Bankruptcy Falters Again
The latest efforts in the 20-month Tribune Co. bankruptcy have hit another hurdle, and it could lead to more debates and lawsuits. The new troubles center on how best to repay creditors, according to Reuters.
As a result of the dispute, the company, which owns the Chicago Tribune and Los Angeles Times, will submit a new reorganization plan on August 27. Its creditors will add their own suggestions, separately. This lack of cooperation could lead to more court battles and delays, as the bondholders and lenders fight for the right for early repayment.
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