Bloomberg Law
Jan. 17, 2019, 9:16 PM

Retiring Bankruptcy Judge Carey Took Hard Look at Valuations

Diane Davis
Diane Davis

Judge Kevin Carey had overseen the $13 billion Tribune company bankruptcy for three years before issuing his decision in the largest-ever media company reorganization in 2011.

He began his 125-page decision recounting in its entirety the fable of a scorpion who stung a fox while crossing a river on its back, thus ensuring they’d both perish, after promising he’d do no such thing.

“There is no moral to this story,” Carey wrote. “Its meaning lies in the exposition of an inescapable facet of human character: the willingness to visit harm upon others, even at one’s own peril.”

Carey, who announced ...

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