Cases & Deals

Senior lender group of Tribune Company achieves reorganization success

Clients Tribune Senior Lender Group

Jones Day represented holders of more than $3 billion of Senior Loans against Tribune Company and its affiliates in one of the largest and most high profile reorganizations of the last several years. Clients included: Angelo, Gordon & Co., Contrarian Funds LLC, GoldenTree Asset Management, and Oaktree Capital Management. The team also represented Oaktree and Angelo Gordon as co-proponents of a chapter 11 plan of reorganization for Tribune, along with Tribune, JPMorgan, and the Creditors' Committee. The Jones Day team took the lead in pursuing confirmation of that plan and in successfully defeating confirmation of other competing plans proposed for Tribune.

Since the effective date of Tribune's plan, Jones Day has represented Tribune Company in appeals of the order confirming the plan brought by certain noteholders and indenture trustees and other bankruptcy-related matters. Jones Day successfully obtained an order from the District Court dismissing the appeals as equitably moot, which decision has since been appealed to the Court of Appeals for the Third Circuit.