Bankruptcy judge OKs Tribune management bonuses

Crain’s Chicago Business | Chicago Tribune
The judge noted that there were no objections to Tribune Co.’s plan to pay bonuses of as much as $42.5 million to 640 employees. “I think it’s entirely reasonable to order this relief in these uncertain times,” said Delaware Bankruptcy Judge Kevin Carey. He told lawyers that he hopes to issue a decision “soon” in the nearly three-year-old bankruptcy case. Michael Oneal reports:

Carey must decide between two competing plans for reorganizing the company, one proposed by Tribune Co., a group of senior creditors and Official Committee of Unsecured Creditors and the other proposed by hedge fund Aurelius Capital Management and a group of junior bondholders.

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