Tribune Bankruptcy Plan Challenge Denied

TribuneTribune Co. creditor Aurelius Capital Management today lost its emergency bid to delay the media company’s plan to emerge from bankruptcy. Aurelius sought to delay Tribune’s plan for six months without putting up the $1.5 billion bond that U.S. bankruptcy Judge Kevin Carey required when he granted a temporary stay last week. Aurelius has until Wednesday to come up with the bond, which most observers of the case have suggested is unlikely. A second emergency motion by two indenture trustees seeking to modify the $1.5 billion bond requirement is still pending.

This article was printed from