Connector 2000 Chapter 9 plan approved by majority of voting creditors

By Caroline Salls

Pittsburgh, March 14 - Connector 2000 Association, Inc.'s plan of adjustment was approved by a majority of voting creditors, according to a Friday filing with the U.S. Bankruptcy Court for the District of South Carolina.

The plan vote tabulation included:

• A total of 167 holders, or 90.76% in number, of $152.06 million, or 97.5% in amount, of senior bondholders claims voted to accept the plan, while 17 holders, or 9.24% in number, of $3.9 million, or 2.5% in amount, of these claims voted to reject it;

• A total of 24 holders, or 72.73% in number, of $7.19 million, or 74.71% in amount, of subordinated bondholders claims voted to accept the plan, while nine holders, or 27.27% in number, of $2.43 million, or 25.29% in amount, of these claims voted to reject it; and

• The one holder of $10.38 million in SCDOT claims voted to accept the plan.

The plan confirmation hearing is scheduled for March 25.

Connector 2000 is a South Carolina non-profit public benefit corporation. It filed for bankruptcy on June 24, 2010. The Chapter 9 case number is 10-04467.

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