Charys announces plan vote results

By Caroline Salls

Pittsburgh, Feb. 24 - Charys Holding Co.'s plan of reorganization was unanimously approved by creditors in three of six voting classes, according to a Monday filing with the U.S. Bankruptcy Court for the District of Delaware.

Specifically, all nine holders of $5.18 million in cotton seller note claims, all three holders of $8 million in CTSI / MSAI seller note claims and mirror note claims and all 10 holders of $30 million in general unsecured claims against the company's C&B debtor voted to accept the plan.

However, the one holder of $54.03 million in other secured claims voted to reject the plan.

In addition, 25 of 26 holders of $169.58 million in 8.75% senior convertible note claims voted to accept the plan, representing 96.15% in number of creditors and 97.05% in amount of claims.

A total of 56 of the 58 holders of $24.49 million in general unsecured claims against Charys Holdings voted to accept the plan, representing 96.55% in number and 91.81% in amount of claims.

The plan confirmation hearing is scheduled for Wednesday.

Charys is an Atlanta-based infrastructure services company that filed for bankruptcy on Feb. 14, 2008. Its Chapter 11 case number is 08-10289.

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