Judge Allows Riverstone To Overhaul Shareholder Deal

Law360, New York (August 23, 2006, 12:00 AM EDT) -- Nearly three months after Riverstone Networks Inc. asked for court approval to revamp an old shareholder lawsuit settlement, a federal judge has given the green light to the bid, enabling the bankrupt ethernet provider to recoup nearly $1 million in fees originally paid to shareholders’ lawyers.

U.S. Bankruptcy Judge Christopher Sontchi approved the request this week, saying in court documents filed on Wednesday that the deal on attorney fees is in the best interests of Riverstone's creditors.

In June, the company had sought permission to make...
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