Tribune Co. Chairman Sam Zell is demanding his share of repayment in the media company’s bankruptcy if lower-priority creditors, emboldened by a recently released examiner’s report, get anything.
EGI-TRB LLC, the company that the real estate mogul created to invest $315 million in debt and equity in the 2007 Tribune leveraged buyout, filed a conditional objection to the current plan of reorganization this week, saying it expects its debt claims to be repaid if creditors whose trustee is Wilmington Trust Co. get any payment.
EGI-TRB is slated to get nothing under the proposed reorganization plan currently on file in the Delaware Bankruptcy Court.
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