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Judge Kevin Carey of the U.S. Bankruptcy Court in Wilmington, Del. has ruled that Sam Zell should be the very last creditor to get money in any payout from the Tribune bankruptcy proceeding. The judge found that "Mr. Zell's investment ranked dead last in the Chapter 11 payment priority competition, 'at the bottom of Tribune's capital structure,'" the Wall Street Journal reports.
Sam Zell
Finally, some good Sam Zell news
More by Kevin Roderick:
'In on merit' at USCRead the memo: LA Times hires again
Read the memo: LA Times losing big on search traffic
Google taking over LA's deadest shopping mall
Gustavo Arellano, many others join LA Times staff
Recent Sam Zell stories on LA Observed:
Sad but true: Sam Zell writing a book called 'Gravedancer'New CEO named at Tribune, old publisher at Times
Tribune exits bankruptcy after four years, ending Sam Zell era *
Judge says he will OK Tribune's plan for ending bankruptcy
Finally, some good Sam Zell news
Zell throws a hundred grand Karl Rove's way
Times employees' suit over Zell deal officially wrapped
Tribune has paid $231 million in bankruptcy fees so far
