IN RE INNOVATIVE COMMUNICATION CO., LLC

Civil Nos. 2007-106, 2007-105. Bankruptcy Nos. 06-30008(JKF), 06-30009(JKF).

399 B.R. 152 (2008)

In re INNOVATIVE COMMUNICATION COMPANY, LLC, et al., Debtor. In re Jeffrey J. Prosser, Debtor.

United States Bankruptcy Court, D. Virgin Islands, D. St. Thomas and St. John.

June 2, 2008.


Attorney(s) appearing for the Case

Michael J. Lichtenstein, Rockville, MD, A. Jeffrey Weiss, St. Thomas, U.S.V.I., for Jeffrey J. Prosser.

Robert F. Craig, Omaha, NE, Thomas Alkon, St. Croix, U.S.V.I., for Jeffrey J. Prosser and Innovative Communication Company LLC.

Kevin A. Rames, St. Thomas, U.S.V.I., for Innovative Communication Company LLC.

Richard H. Dollison, St. Thomas, U.S.V.I., Thomas J. Allingham II, Wilmington, DE, for Greenlight Capital Qualified, L.P., Greenlight Capital, L.P., Green-light Capital Offshore, Ltd.

Charles S. Russell, Jr., J. Daryl Dodson, St. Thomas, U.S.V.I., William R. Greendyke, Houston, TX, for Rural Telephone Finance Cooperative.

Jeffrey K. Cymbler, New York, NY, for James P. Carroll.

Michaela C. Crocker, Dallas, TX, Craig V. Rasile, Miami, FL, for Stan Springel.


MEMORANDUM OPINION

GÓMEZ, Chief Judge.

Before the Court is the appeal of the debtor-appellant,1 Jeffrey J. Prosser ("Prosser"), of the Bankruptcy Division's August 2, 2007, "Order Declaring That the Terms and Conditions of Settlement of Claims of RTFC, CFC, Prosser Parties, and Greenlight Entities is Not Assumable" (the "Order").

I. FACTUAL AND PROCEDURAL BACKGROUND

Prosser, Emerging...

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