VarTec trustee withdraws request to force settlement payment

By Caroline Salls

Pittsburgh, Dec. 18 - VarTec Telecom, Inc.'s Chapter 7 trustee withdrew a motion to force National Union Fire Insurance Co. to make a delinquent $6.45 million settlement payment after the payment was made on Monday, according to a filing with the U.S. Bankruptcy Court for the District of Delaware.

According to the motion, VarTec Chapter 7 trustee Jeffrey H. Mims reached a $9 million settlement with National Union and five other adversary proceeding defendants on Oct. 24.

Under the court order approving the settlement, each defendant was required to pay its portion of the settlement payment by Dec. 6.

All of the settlement payments were made by the deadline, except for National Union's $6.45 million portion.

VarTec, a Dallas-based telecommunications provider, filed for bankruptcy on Nov. 1, 2004. Its Chapter 7 case number is 04-81694.

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