Tribune Creditors Can't Appeal $1.5B Bond Order: 3rd Circ.

Law360, New York (September 10, 2012, 6:53 PM EDT) -- Junior creditors of Tribune Co., including Aurelius Capital Management LP, that are challenging a bankruptcy court's demand that they post a $1.5 billion bond to stay the media giant's restructuring for an appeal can't contest the order in an appeals court, the Third Circuit said Monday.

A three-judge panel said it lacked jurisdiction to review U.S. District Judge Gregory M. Sleet's Aug. 27 decision denying Aurelius's request to modify a bankruptcy court's prior appeal order, which stipulated that creditors could stay the company restructuring only if...
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