Magyar Telecom foreign representative seeks Chapter 15 case closure

By Caroline Salls

Pittsburgh, March 6 - Magyar Telecom BV's foreign representative asked the U.S. Bankruptcy Court for the Southern District of New York to close the company's Chapter 15 case, according to a Thursday court filing.

Foreign representative Nikolaus Bethlen said Magyar's scheme of arrangement filed with the High Court of Justice of England and Wales has taken effect.

Bethlen said the scheme sanctioning order is evidence that the company's estate under English law, or its functional equivalent, has been fully administered and that the Chapter 15 case may be closed.

The proposed closure order will be presented to the court on April 9.

London-based Magyar provides telecommunications services through its Budaors, Hungary-based subsidiary, Invitel. The company filed Chapter 15 bankruptcy on Oct. 29 under case number 13-13508.

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