Black Diamond Says It May Try to Buy SpeedCast Out of Bankruptcy

Black Diamond Capital Management LLC may make a last-minute bid in the coming days for bankrupt satellite services provider SpeedCast International Ltd., a lawyer for the hedge fund told a judge in federal court on Tuesday.

Black Diamond is trying to get all of its questions about SpeedCast answered before it decides how much, if anything, to offer for the company, lawyer Albert L. Hogan said during a bankruptcy hearing held by video. Last month, U.S. Bankruptcy Judge Marvin Isgur halted a hearing on whether to approve a reorganization proposal that would hand control to Centerbridge Partners LP, ...