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Judge considers Tribune’s restructuring plan

Posted on Monday, June 11th, 2012 at 9:34 pm    

A bankruptcy judge told Tribune Co. officials on Friday that he plans on having his formal opinion on the failing newspaper company’s restructuring plan by early July. He told officials he will either approve the plan or provide them with details on how to fix it.

Tribune, which owns the Los Angeles Times, the Chicago Tribune, and numerous television and radio stations, filed for bankruptcy protection three and a half years ago. This is its second restructuring plan it has submitted for approval.

According to the LA Times, the judge’s main concern with their first exit plan was about how the company planned on paying its attorneys’ fees.

If you would like to learn more about the different types of business bankruptcy, contact the business bankruptcy attorneys of the Law Office of Russell Van Beustring, P.C. today at 713-973-6650.

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