Tricom exclusive plan-vote solicitation period extended to Jan. 31

By Jennifer Lanning Drey

Portland, Ore., Dec. 18 - Tricom SA was granted a shorter-than-requested extension to its exclusive period to solicit votes on its plan of reorganization from the U.S. Bankruptcy Court for the Southern District of New York, according to a legal source.

The exclusive solicitation period was extended to Jan. 31 from Dec. 31.

Tricom had requested an extension to Feb. 28.

When requesting the extension, the company said it had been in claim treatment negotiations with Bancredit, Bancredito Panama and Banco Leon.

The company said it was cautiously optimistic that the parties would reach a global resolution of all of the disputed claims filed by the banks or at least partial settlements coupled with agreements on the appropriate levels of related claims reserves.

Tricom said it was requesting the extension in case it was required to or chose to re-solicit votes on the plan filed in March 2008.

Tricom, a full-service 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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