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It has been a few days now since Kenneth Klee, a professor at UCLA’s law school and a name partner at the boutique Klee, Tuchin, Bogdanoff & Stern, released his massive report investigating the downfall of The Tribune Co. following a disastrous 2007 leveraged buyout. We’re still making our way through the report, which raises serious questions about the second step of the buyout and whether it left Tribune with an unsustainable amount of debt. It remains to be seen whether the report will help out-of-the-money creditors pursue fraud claims against the higher-ups and banks that engineered the buyout.

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