Courts says Bridge Information Systems entitled to $12.5 million refund from Arrow Electronics

By Jennifer Lanning Drey

Portland, Ore., March 10 - A bankruptcy court has determined that Bridge Information Systems should be refunded $12.5 million of payments made in 2000 to MOCA, a company that was purchased by Arrow Electronics, Inc. shortly before Bridge declared bankruptcy, according to an Arrow news release.

The administor of the Bridge estate had sought the return of about $24.0 million plus interest with respect to alleged preferential payments made to MOCA, a division of Arrow's Global Enterprise Computing Solutions segment, according to the release.

Arrow intends to continue to defend its position through post-trial motions and an appeal if necessary.

Melville, N.Y.-based Arrow Electronics provides products and services to users of electronic components and computer products.

Bridge Information Systems owned BridgeNews and filed for bankruptcy in February 2001.

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