Got a call late this afternoon from Newspaper Guild executive officer Mike Bucsko, saying a New York bankruptcy judge okayed the release of funds to back the Star Tribune's buyout checks.

Earlier today, I reported that Strib representatives told approximately 10 buyout participants that checks they were holding — and in some cases, cashed — wouldn't clear. That was a rude surprise, since for many their checks were cut before the Thursday, Jan. 15 filing. But once the Strib entered bankruptcy, a judge had to approve any cash transfers to protect creditors' interests.

This afternoon, Judge Robert D. Drain did just that, ending the knee-knocking uncertainty. Had the funds not been disbursed, Strib workers could've wound up unsecured creditors, which has happened to staffers for the Chicago-based Tribune Co., the other big journalism outfit in Chapter 11.

During the day, some folks have asked me how a bunch of smart people didn't cash their buyout checks right away, given the Strib's well-known financial travails.

It turns out they had no real choice. As I reported this a.m., buyout-takers received checks Jan. 9, but they were only for the last pay period and unused vacation. Those were cashed without incident.

The lump-sum buyout checks weren't scheduled to arrive until 15 days later (Jan. 24), the end date for employees to rescind their buyout requests.

At least one person who emailed me received official notice Jan. 14 — ten days early, and a day before the bankruptc filing — that the certified check was at the post office. It was cashed Friday, Jan. 16, but the bank said it would take two business days to clear. That meant the money should have been available today — Tuesday, Jan. 20. However, the company called the worker Monday night (the 19th) stating the funds wouldn't be available, pending the judge's okay.

The buyout checks were apparently in the same class as some paychecks and company credit cards; on Friday, management said those wouldn't work until Tuesday at the earliest. Not quite sure why the company didn't get the word out about buyout checks at the same time, but my source credits management for trying to keep workers in the loop.

Still, the email concludes, "Chapter 11 sucks. This community deserves better."