Dymas Gets On Board For Cynergy Ch. 11 Plan

Law360, New York (December 17, 2010, 5:07 PM EST) -- Bankrupt credit card processor Cynergy Data LLC on Friday filed a joint Chapter 11 plan along with Dymas Funding Co. LLC that would see first-lien lenders, represented by Comerica Bank, along with junior first-lien lenders, represented by Dymas, get a modest recovery from liquidation proceeds.

The plan was filed one day after Dymas filed a reply in the U.S. Bankruptcy Court for the District of Delaware to former Cynergy Data CEO Marcelo Paladini's challenge to the plan blueprint.

Dymas asked the court Thursday to treat Paladini's...
To view the full article, register now.