Tribune Co. has moved to block an appeal that could prolong a stay in bankruptcy that began in 2008 and might not be over until next year, Dow Jones Newswires reported yesterday. The Chicago-based company asked a bankruptcy judge to turn down a request from holders of a class of debt known as PHONES to challenge a decision that they say unfairly slashes their recoveries. The ruling PHONES holders want to attack came after Judge Kevin Carey rejected Tribune's last chapter 11 plan. The company wants to try again in June to win confirmation of a slightly revised restructuring plan that it hopes will ease it out of chapter 11 as property of big lenders.
