October 6, 2011
News Coverage, Answers, Appeals, Complaints, Motions, Orders, Trial Notes
Open Range Communications Inc.'s Chapter 7 trustee minted a settlement Tuesday that resolves a $6 million claim from the private equity investor that bankrolled its failed reorganization, removing the last obstacle holding up the defunct broadband company’s liquidation.
The Chapter 7 trustee for Open Range Communications Inc. on Wednesday settled his adversary suit in Delaware bankruptcy court claiming the U.S. government toppled the rural broadband company into bankruptcy when it cut off funding for a $267 million loan.
The Chapter 7 trustee for Open Range Communications Inc. is suing several federal agencies, claiming the government toppled the rural broadband company into bankruptcy when it cut off funding for a $267 million loan, according to a complaint unsealed Thursday.
The Chapter 7 trustee for Open Range Communications Inc. launched an adversary suit in Delaware bankruptcy court Tuesday against One Equity Partners III LP, claiming the investment firm withheld $16.5 million in funding it had promised the now-defunct Internet provider.
Open Range Communications Inc. asked a Delaware court on Monday to convert its Chapter 11 case to Chapter 7, saying it was unlikely to have a reorganization plan resolving the Internet provider's potential claims against the U.S. Department of Agriculture over a $267 million loan.
The U.S. told a Delaware bankruptcy judge Friday it should not have to produce documents and witnesses requested by Open Range Communication Inc.'s unsecured creditors, arguing that the quick, informal and cooperative investigation it agreed to risks becoming a formal, open-ended and adversarial one.
The unsecured creditors committee for Open Range Communications Inc. asked a Delaware bankruptcy judge on Tuesday to force various federal agencies to hand over documents, as the committee gears up to sue the government on the rural Internet provider’s behalf.
Unsecured creditors in Open Range Communications Inc.'s Delaware bankruptcy case won a hotly contested motion Friday to extend the time in which they can investigate and sue federal agencies on the Internet provider's behalf, a move the government had called unnecessary and burdensome.
The U.S. on Tuesday asked the Delaware judge overseeing Open Range Communications Inc.'s bankruptcy case to deny a bid by unsecured creditors to extend the time in which they can investigate and sue government agencies on the Internet provider's behalf, saying an extension would be unnecessary and burdensome.