Bankruptcy judge overrules Tribune, releases independent examiner who probed buyout

Tribune judge releases independent examiner

WILMINGTON, Del. — A Delaware bankruptcy judge has agreed with the independent examiner who probed the Tribune Co.’s 2007 leveraged buyout and potential claims arising from it that he should be discharged from the case.

An attorney for the examiner is arguing that his work is done and that he should not be forced to remain part of Tribune’s bankruptcy case while the company tries to negotiate a consensual reorganization plan with creditors.

Tribune attorneys argue that it would be premature to discharge the examiner because some parties disagree with his findings and may want access to documents that were given him during his investigation.

The examiner suggested in court papers that Tribune was threatening to make him a pawn in its negotiations with creditors.