Tribune Co. creditors won a stay yesterday of last month's order confirming the company's plan to exit bankruptcy, so long as they pay a $1.5 billion bond, Reuters reported yesterday. Bankruptcy Judge Kevin Carey gave the creditors until Aug. 29 to post the bond in order to keep the plan on hold while they pursue an appeal. Creditors including Aurelius Capital Management LP had appealed Judge Carey's July 23 decision signing off on the plan for the publisher of the Chicago Tribune, Los Angeles Times and Baltimore Sun. Auerlius, which has been leading the opposition to the plan, has argued it and a related settlement would force bondholders to accept only $369 million for $2 billion to $2.3 billion in legitimate claims.
