Riverstone Networks plan negotiations ordered to mediation

By Caroline Salls

Pittsburgh, May 12 - Riverstone Networks, Inc.'s plan of liquidation negotiations were ordered to mediation Thursday by the U.S. Bankruptcy Court for the District of Delaware.

According to the filing, parties to the plan negotiations include the company, its officers and directors, the official committee of unsecured creditors and the official committee of equity security holders.

Kevin J. Carey has been appointed as mediator.

As previously reported, RNI Wind Down Corp., formerly Riverstone Networks, Inc., said it plans to file a plan of liquidation in its Chapter 11 case by mid-May, and is still receiving input on its proposed plan from its official committee of unsecured creditors, equity holders and the U.S. Trustee.

Riverstone, a Santa Clara, Calif., provider of carrier ethernet routers, filed for bankruptcy on Feb. 7. Its Chapter 11 case number is 06-10110.

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