U of C, James Tyree’s family reach $10 million settlement

SHARE U of C, James Tyree’s family reach $10 million settlement

FILE - In this file photo taken Jan. 22, 2008, banker James Tyree is seen in his Chicago office. A Delaware bankruptcy judge on Thursday, Oct. 8, 2009, approved the sale of the Chicago Sun-Times and other newspapers owned by its parent company to a group led by Chicago businessman Jim Tyree. (AP Photo/Chicago Sun-Times, John H. White) **CHICAGO LOCALS OUT, MAGS OUT**

The family of James Tyree, former owner of the Chicago Sun-Times, has reached a $10 million settlement with the University of Chicago Medical Center, where he died in March 2011.

Tyree was being treated for stomach cancer, but his death occurred when the removal of a dialysis catheter allowed air bubbles to enter his bloodstream. The Cook County medical examiner called the death an accident, and the hospital had to improve procedures to avoid a cutoff of Medicare funds.

The settlement filed in probate court specifies that there is no admission of liability in the death.

Half of the settlement will be paid to Tyree’s widow, Eve, and the rest will be paid equally to his three children. Eve Tyree will serve as guardian of the children’s estates.

The court filing said Tyree will donate her $5 million to the James C. Tyree Charitable Foundation. The family and the hospital announced plans for the foundation last year, saying it would support programs dealing with education and health care.

Tyree, 53, was a board member of the U. of C. Medical Center and was involved in numerous local charities. He led a partnership that acquired out of bankruptcy the parent company of the Sun-Times and leading suburban newspapers in 2009, assuring their continued publication.

The partnership sold the papers to Wrapports LLC in late 2011.

The settlement said that of the $10 million, half will be paid upfront and the rest over the next five years. The payments over the next five years amount to $515,000 per year for Eve Tyree and $171,666.67 per year for each child.

The U. of C. Medical Center had no comment.

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