Aurelius Balks At Move To Settle Tribune Claims

Law360, New York (October 12, 2010, 3:57 PM EDT) -- Aurelius Capital Management LP has objected to requests by bankrupt Tribune Co.’s unsecured creditors to begin resolving claims against the media giant, arguing that the process the creditors have proposed is insufficient.

In an objection lodged Monday in the U.S. Bankruptcy Court for the District of Delaware, Aurelius called on Tribune’s committee of unsecured creditors to exercise more authority in dealing with intercompany claims and seek approval from the court and interested parties before finalizing any settlements.

Aurelius, one of the largest holders of Tribune’s pre-leveraged...
To view the full article, register now.