While Tribune is in court today working on an exit to its bankruptcy plan, candidates to replace the outgoing Randy Michaels are emerging. The Wall Street Journal reports one name being floated is former News Corp.executive Peter Chernin. While the Journal says he may not be interested in becoming CEO, he may be inclined to be Tribune’s new chairman. The Journal says when Michaels departs, he will be temporarily replaced by a four-person team which will include Chicago Tribune publisher Tony Hunter, Los Angeles Times publisher Eddy Hartenstein, current Tribune chief investment officer Nils Larsen and Tribune chief restructuring officer Don Liebentritt. They will function as the “Office of the President.” The bankruptcy hearings could get contentious, as there could be court cases pending due to the way the 2007 leveraged buyout of Tribune happened under Sam Zell, which left the company insolvent. The Journal reports there are talks to create a $20 million litigation trust to fund legal fees involved in any lawsuits.