New Plan Moves Tricom Closer To Reorganization

Law360, New York (June 25, 2009, 12:00 AM EDT) -- Dominican telecommunications company Tricom SA has filed its second amended reorganization plan and disclosure statement, incorporating a new settlement with Bancredito Panama SA, fleshing out an earlier settlement with Banco Multiple Leon SA and addressing objections by Bancredit Cayman Ltd.

Though certain issues still need to be worked out among Tricom and its creditors, the new plan, filed Thursday in the U.S. Bankruptcy Court for the Southern District of New York, is a major step toward reorganization for the company, according to Norm Rosenbaum, an attorney...
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