Tribune's unsecured creditors can file uncensored suit in bankruptcy case

In the Tribune Company's bankruptcy case, Judge Kevin Carey is allowing the unsecured creditors committee to file an uncensored version of a lawsuit against key players in the leveraged buyout that saddled the company with debt. The new, unredacted version could shed light on the creditors' allegations about Morgan Stanley's role in connection with the 2007 buyout. Morgan Stanley was a financial adviser to Tribune's board in connection with the buyout engineered by real estate mogul Sam Zell, who also is a defendant in the lawsuit. Judge Carey also set aside the week of March 7 for a trial on whether to approve Tribune's proposed reorganization plan, or any of three competing plans filed by creditors.