Tricom exclusivity extended to allow plan to reflect settlements

By Jennifer Lanning Drey

Portland, Ore., June 26 - Tricom SA obtained a fifth extension to its exclusive periods to solicit votes on its plan of reorganization, according to a Friday filing with the U.S. Bankruptcy Court for the Southern District of New York.

The company's exclusive solicitation period was extended to Aug. 31 from June 18.

When requesting the approval, Tricom said it was working with its advisers to modify the plan to incorporate the final terms of settlements with Banco Leon and Bancredito Panama.

As a result, the company said it needed more time to obtain approval of the revised disclosure statement and to solicit votes.

Tricom, a telecommunications provider based in the Dominican Republic, filed for bankruptcy on Feb. 29, 2008. Its Chapter 11 case number is 08-10720.

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