Tribune report made public, reorganization hearings delayed

A 1,000-page examiner report into the bankruptcy of Tribune Company was unsealed on August 3 and made public, likely bolstering the legal case of junior creditors who are trying to assign blame for the media company's failure.

Junior creditors said the report makes billions of dollars of first-in-line claims on the Tribune estate subject to legal attack. The release of the examiner's report also forced the company to push back the scheduled start of hearings to confirm its reorganization. The company asked a U.S. bankruptcy court judge in Delaware to delay the start of those hearings until October from the current scheduled start of Aug. 30. The deadline to vote on the plan was also pushed back two weeks to Aug. 20.