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IN RE ASIA GLOBAL CROSSING, LTD.

No. 02 B 15749(SMB).

324 B.R. 503 (2005)

In re ASIA GLOBAL CROSSING, LTD., et al., Debtors.

United States Bankruptcy Court, S.D. New York.

May 25, 2005.

Attorney(s) appearing for the Case

Golenbock, Eiseman, Assor, Bell & Peskoe LLP, New York, NY (Jonathan L. Flaxer, David J. Eiseman, Adam C. Silverstein, Rebecca S. Natow, of Counsel), for Trustee.

Kronish, Lieb, Weiner & Hellman LLP, New York, NY (Lawrence C. Gottlieb, John A. Morris, Jeffrey L. Cohen, of Counsel) for Pacific Crossing, Ltd., et al.

OPINION EXPUNGING AVOIDANCE CLAIMS CONTAINED IN POST-BAR DATE AMENDED PROOF OF CLAIM

STUART M. BERNSTEIN, Chief Bankruptcy Judge.

After the bar date in this case expired, Pacific Crossing, Ltd. and several affiliated entities (collectively "PCL") filed an amended proof of claim. The latter identified several fraudulent transfer and preference claims arising under chapter 5 of the Bankruptcy Code. The trustee has

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