Tribune Creditors Seek to Scrap Bond Needed to Halt Case
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Tribune Co. creditors asked a judge to halt the newspaper chain’s plan to exit bankruptcy for six months without requiring them to post a $1.5 billion bond.
Aurelius Capital Management LP is seeking to overturn a bankruptcy court order that required the bond to protect Tribune lenders from any delay stemming from an appeal of the exit plan. The hedge-fund manager asked the U.S. District Court in Wilmington, Delaware, to quickly hold a hearing.