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Both Aurelius and the other creditor group asked that Carey's order approving Tribune's plan be put on hold until their appeals are resolved. The creditors not connected with Aurelius also sought permission to appeal directly to the federal appeals court in Philadelphia, bypassing a federal district court process in Delaware. Carey scheduled a telephone conference for Wednesday to discuss the motions. Tribune Co. officials noted that the appeals were expected. "We think they are without merit, and that Judge Carey's rulings will survive scrutiny throughout the appeals process," Tribune spokesman Gary Weitman said in a prepared statement. "We will respond quickly to assure that the appeals do not interfere with our efforts to emerge from bankruptcy as soon as possible." Tribune's reorganization plan leaves the Chicago-based media conglomerate in the hands of new owners led by hedge fund Oaktree Capital Management, JPMorgan Chase and Angelo, Gordon & Co., a firm that invests in troubled companies.
[Associated
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