Innovative Communication petitioners ask court to unseal Chapter 11 documents

By Caroline Salls

Pittsburgh, Dec. 4 - Innovative Communication Co.'s involuntary Chapter 11 petitioners asked the U.S. Bankruptcy Court for the District of Delaware to unseal all case documents previously sealed in the involuntary case or in the voluntary Chapter 11 case filed in the U.S. Bankruptcy Court for the District of the Virgin Islands, according to a Friday court filing.

According to the motion, involuntary petitioner Greenlight Capital Qualified LP wants the court to unseal an objection to Innovative's exclusivity extension and transcripts of past Chapter 11 proceedings.

In addition, Greenlight asked that all future filings and proceedings only be permitted to be filed under seal upon court order.

Greenlight said the documents were only being filed under seal to accommodate the company's efforts to quickly reorganize through a refinance or sale, but these efforts have since failed.

Innovative, a St. Croix, U.S. Virgin Islands, holding company, had the involuntary bankruptcy petition filed against it on Feb. 10, 2006. Its Chapter 11 case number is 06-10133.

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