US seeks examiner for Tribune bankruptcy

The US official overseeing the Tribune Co bankruptcy wants a court-appointed examiner to investigate the 2007 leveraged buyout led by Sam Zell, which bondholders blame for the company's Chapter 11 filing.

The US Trustee said an examiner could spur settlement talks which could resolve the bankruptcy. The request will be heard on Thursday, when the media company goes to court for a critical hearing. It is also seeking to retain control of its bankruptcy and to prevent what one party warned would be a "World War III" fight among creditors. The examiner and threat of "war" stem from the issue of blame for the company's bankruptcy, which is essentially the final hurdle to bringing the owner of the Los Angeles Times, Chicago Tribune and more than 20 television stations out of Chapter 11.