Landis Rath & Cobb, together with Chadbourne & Parke LLP and Zuckerman Spaeder LLP, represented the Official Committee of Unsecured Creditors in the In re Tribune Company bankruptcy case filed in the United States Bankruptcy Court for the District of Delaware. General unsecured claims asserted against the Tribune Company exceeded $12 billion. The Tribune Company confirmation hearings were highly contested, but the Committee succeeded in obtaining a decision that approved a favorable settlement of fraudulent transfer claims and valuation of the company, both critical to the eventual confirmation of the fourth plan of reorganization.
In this matter, the Committee also moved for and obtained authority to commence litigation on behalf of the Debtors’ estate stemming from a leveraged buyout that increased the Company’s debt by in excess of $13 billion. LRC served as first chair, conflicts counsel in prosecuting in excess of 2000 subpoenas seeking information from defendants and potential defendants in connection with fraudulent conveyance and other claims to avoid and subordinate $10 billion in loans used to finance Sam Zell’s takeover of Tribune. LRC worked with all constituencies to investigate, litigate and, with respect to some of defendants, settle claims, in addition to preparing a complaint that was transferred to a litigation trust for the benefit of the creditors following the confirmation of the Tribune plan of reorganization.
Click on attorneys names below to see more representative matters.