Tricom's Bid To Discount Bancredit Claims Denied

Law360, New York (September 3, 2008, 12:00 AM EDT) -- A bankruptcy judge on Tuesday denied Tricom SA's bid to temporarily discount claims made against it by two Latin American banks, a move Tricom said was necessary in order to complete its prepackaged Chapter 11 restructuring plan.

Chief Judge Stuart Bernstein of the U.S. Bankruptcy Court for the Southern District of New York ruled that Tricom cannot estimate claims against it made by Bancredit Cayman Ltd. at zero dollars for purposes of the telecommunications company's restructuring plan. Judge Bernstein said he was making no judgment as...
To view the full article, register now.