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Argentinian Recovery group appeals judge's order for Multicanal
By Jeff Pines
Washington, April 5 - A group of Multicanal SA investors including Argentinian Recovery Co. LLC said it intends to appeal Judge Alan Gropper's order denying its motion to dismiss Multicanal's protection under section 304 of the U.S. Bankruptcy Code.
The group filed the notice with the U.S. Bankruptcy Court for the Southern District of New York on April 2.
Under the protection of section 304, the Argentine cable television systems company is protected from legal actions in U.S. courts while it conducts an out-of-court restructuring authorized by Argentine law.
The Argentinian Recovery group is seeking to put the company involuntarily into Chapter 11.
The case number is 04-10280.
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