Davenport-based Lee Enterprises has filed for Chapter eleven bankruptcy. In its filing on Monday with Delaware bankruptcy court Lee listed liabilities of nearly 995-million dollars and assets of quite one billion dollars. The company can honor its debts and pay a better interest rate to lenders. In return, lenders agreed to extend their loans, currently due in April, until at least December 2015. The plan conjointly preserves most of Lee’s stock value, allowing the company to continue trading on the New York Stock Exchange.

The bankrupt parent company of failed thrift Washington Mutual has announced that it’s reached a settlement with creditors in Delaware bankruptcy court. The arrangement brings the company one step nearer to an exit from bankruptcy. The deal that still must be approved by the court would distribute quite $7 billion to the Seattle bank's creditors, as well as shareholders, who are waiting quite three years to collect on what WaMu owed them when it had been closed by regulators in 2008.

Dodgers won a legal battle against one amongst their final court foes on Thursday. Delaware Bankruptcy Court decides Kevin Gross ruled that the Dodgers were allowed to sell their broadcast television rights beside the team, per Bill Shaikin of the l. a. Times. The Dodgers currently have a television contract through 2013 with Fox, one that failed to permit them to barter with different companies until November 30, 2012. Underneath the new ruling, the Dodgers can have a 45-day amount to work out a new contend with Fox, ranging from November 30, 2011. When January fourteen, 2012, if the Dodgers and Fox don't reach an agreement, they can open up the bidding to different suitors.

Major League Baseball is staying neutral in the fight between the l. a. Dodgers and Fox Sports as the team work to emerge from bankruptcy. The league's pledge to remain neutral is included in a very settlement agreement reached last month with the Dodgers and filed in Delaware bankruptcy court late Tuesday. The agreement entails a procurement of the Dodgers, as well as television rights to games starting in 2014 and Dodgers stadium.

Tribune Co., that is working to emerge from bankruptcy protection, has agreed to pay former CEO Randy Michaels up to $725,000 to settle a dispute over a bonus. Michaels had demanded to be paid a $900,000 bonus when he resigned 13 months ago. His resignation was triggered by reports airing Tribune employees' complaints regarding allegedly raunchy behavior by Michaels and different executives. Tribune Co. disclosed the settlement agreement in documents filed Tuesday in Delaware bankruptcy court, where it's been making an attempt to reorganize its finances for nearly three years. The company that relies in Chicago owns major newspapers as well as the l. a. Times and Chicago Tribune, still as quite twenty television and radio stations. It sought bankruptcy protection attributable to monetary problems brought on by a steep downturn in newspaper advertising and a debt-laden buyout engineered by real estate mogul Sam Zell. That 2007 deal ushered in Michaels, a former radio station disc jockey who was promoted to CEO in December 2009.