The following is a list of adversary proceeding complaints filed in the Tribune Company bankruptcy. There are two categories of defendants in these adversary proceedings. One category are complaints against purported “insiders” using a 1 year preference period which were filed by the Official Committee of Unsecured Creditors of Tribune Company. The second category of complaints are traditional complaints against trade creditors brought by Tribune Company and The Hartford Courant Company as debtors and debtors in possession.
APScans Tags: The CADDJ Report uses complex algorithms in an attempt to identify filings in each of the categories of complaints, answers (and other responsive pleadings), defaults, dismissals and judgments. No assurance is given that the nature of each docket entry will be identified correctly.
Not For Individual Docket Monitoring: Pre-applied filters may eliminate important notices and certificates. A party to an adversary proceeding must not consider APScans to be a substitute for reviewing the docket of the proceeding in which it is a defendant.
This APScans covers filings ENTERED during the period from January 1, 2010 date through Thursday, November7, 2013. -
Theories of Recovery:
Of the 209 complaints filed on December 3rd and 4th, all appeared to name individuals as the defendants. The primary theory of recovery is avoidance of preferential transfers to an "insider" made during the 1 year prior to the bankruptcy petition filing under Section 547. The amount and basis for each transfer is identified on Exhibit A to each complaint. The identified transfer bases include: "Restricted Stock Units", "Executive Transition", "Deferred Bonus", "Excise Tax Gross Up", and "Phantom Equity".
A secondary theory of recovery is avoidance of fraudulent conveyances pursuant to Section 548(a)(1)(B). Although Section 548 provides for a 2 year avoidance period, apparently all of the transactions the Committee seeks to avoid occurred within a 1 year period.
Adversary Proceedings Overview
Lead Bankruptcy Case Name (Case Number): Tribune Company (08-13141 )
Petition Date: Lead Debtor Petition Date was December 8,2010
Bankruptcy Court District (Division): District of Delaware
Associated Debtors: There are 111 associated debtors. The two primary debtors bringing avoidance claims are Tribune Company and Tribune Broadcasting Company.
Plaintiff:Official Committee of Unsecured Creditors of Tribune Company in complaints against "Insiders". Tribune Company and The Hartford Courant Company as debtors in possession as to trade creditor complaints.
Number of Proceedings: 312
When Filed:December 3, 2010
Adversary Proceeding Judge: Chief U.S. Bankruptcy Judge Kevin J. Carey
Plaintiff's Counsel:For the "insider" recovery actions, Landis Rath & Cobb LLP (Wilmington, Delaware) through its attorneys Adam G. Landis, James S. Green, Jr., Landon Ellis and Richard Scott Cobb. For the trade creditor recovery actions, Cole, Schotz, Meisel, Forman & Leonard, P.A. (Wilmington, Delaware) through its attorneys Norman L. Pernick, Michael F. Bonkowski, J. Kate Stickles, Patrick J, Reilley
Avoidance Period: The complaints filed on December 3rd and 4th identify the preference period as starting 1 year prior to as to "insiders" as defined in Section 101(31); Commencing on December 5, 2010, complaints were filed against trade creditors and a 90 day preference period was applied.
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