Tribune bankruptcy judge indicates he will allow state lawsuits alleging fraud in 2007 buyout

Judge Kevin Carey, a federal bankruptcy judge in Delaware, is indicating that he will allow Tribune Company's creditors to pursue fraud claims in state courts against shareholders who benefited from the media company’s 2007 leveraged buyout. Attorneys for some creditors told Judge Carey that they should be cleared to go after money that the company itself didn't try to get before a deadline expired in bankruptcy court. The court has been overseeing Tribune Co.’s operations since it filed for bankruptcy protection in December 2008.


Tribune bankruptcy judge indicates he will allow state lawsuits alleging fraud in 2007 buyout