Court denies challenge in Tribune Company case

An emergency motion by Aurelius Capital Management to stay Tribune Co.'s emergence from bankruptcy for six months -- without putting up a required $1.5 billion bond -- was denied by a U.S. District Court in Delaware. That decision gives Aurelius, a New York-based hedge fund and junior creditor in the nearly four-year-old bankruptcy case, until Wednesday to come up with the money. If that deadline passes, Tribune Co. can begin to move forward under the reorganization plan confirmed last month by U.S. Bankruptcy Judge Kevin Carey to hand ownership to its senior creditors.