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Judge Approves $8.3M Settlement In Charys Ch. 11

Law360 (August 19, 2008, 12:00 AM EDT) -- The federal judge overseeing the Chapter 11 proceedings of Charys Holding Co. Inc. has signed off on an agreement allowing the telecommunications company to use $8.3 million in cash collateral to pay back some of its noteholders' expired claims.

According to the agreement, approved Tuesday in the U.S. Bankruptcy Court for the District of Delaware, Charys will use proceeds from the sale of several cell phone towers in order to pay off expired promissory notes to Imperium Master Fund Ltd., Jed Family Trust and John Michaelson....
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