Open Range DIP Lender, Trustee Spar Over Stimulus Deal

Law360, Wilmington (December 10, 2012, 8:56 PM EST) -- The Chapter 7 trustee overseeing the liquidation of Open Range Communications Inc. defended his proposed settlement with the federal government and others Monday after the private-equity backer of the bankrupt broadband provider slammed the deal Friday, claiming it would “eviscerate” its rights.

In an objection filed in Delaware bankruptcy court, OEP Open Range Holdings LLC — majority shareholder in the failed venture and provider of nearly $6 million in debtor-in-possession financing — blasted the proposed pact between trustee Charles M. Forman, the U.S. Department of Agriculture...
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