Ion Creditors Want Cyrus Suit Out Of District Court

Law360, New York (October 20, 2009, 3:56 PM EDT) -- The official committee of unsecured creditors in Ion Media Networks Inc.'s bankruptcy has urged a district court not to take on a dispute between Ion and its second-lien lender Cyrus Select Opportunities Master Fund Ltd. over Ion's debtor-in-possession financing.

In an opposition brief filed Monday in the U.S. District Court for the Southern District of New York, the committee said that the district court should deny Cyrus' motions to withdraw the reference as to two adversary proceedings between it and Ion.

The proceedings stem from a...
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