Communication Corp. of America lender agents' examination request approved

By Caroline Salls

Pittsburgh, Sept. 5 - Communication Corp. of America, Inc. lender agent General Electric Capital Corp. obtained court approval of an examination of company documents related to conduct, property and liabilities that may affect the company's estates, according to a Tuesday filing with the U.S. Bankruptcy Court for the Western District of Louisiana.

General Electric Capital serves as administrative agent for Communication Corp.'s senior lenders.

According to the motion, the examination will study documents related to services and agreements provided to Communications Corp. by companies including GCG Air LLC, Pruett Advisors, Southern Benefit Services LLC and Galloway Consulting Services Inc.

In addition, General Electric Capital will examine documents related to compensation arrangements for Thomas Galloway, Wayne Elmore and Steven Pruett.

The lender agent will also examine documents detailing lease agreements, capital expenditures and cash balances, according to the motion.

The examination is scheduled for Sept. 8 and 11.

Communication Corp. of America, a Lafayette, La. television station owner, filed for bankruptcy on June 7. Its Chapter 11 case number is 06-50410.

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