Tribune survives Aurelius court challenge to bankruptcy plan

August 19, 2015 6:35 PM

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Aug 19 A federal appeals court on Wednesday refused to undo a central component of Tribune Co's bankruptcy plan in a defeat for prominent hedge fund Aurelius Capital Management LP, which claimed it was short-changed by the reorganization.

By a 3-0 vote, the 3rd U.S. Circuit Court of Appeals in Philadelphia said letting Aurelius, a specialist in distressed debt, pursue an appeal related to more than $2.2 billion of bankruptcy claims would be unfair to Tribune and to creditors who overwhelmingly approved the media company's Chapter 11 ...

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