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Trade in U.S. bankruptcy claims jumps in November

WILMINGTON, Delaware (Reuters) - The value and number of U.S. bankruptcy claims traded in November both rose to the highest level in months with active interest in the Tronox Inc and Tribune Co bankruptcies, according to data released on Wednesday.

The total value of traded claims rose to $3.2 billion from $1.8 billion in October. It was the highest value of claims traded since July, according to SecondMarket, which runs a bankruptcy claims trading marketplace.

The 942 claims traded in November was the highest since April and was up sharply from 664 in October.

Bankruptcy-claims trading lets creditors with claims against bankrupt companies sell their interests to investors before the conclusion of a bankruptcy case.

The increased activity was partly due to a jump in the number of Tribune claims that traded, which more than doubled to 178. Trade creditors such as suppliers in the case have complained that it is unclear when they will get paid under the three competing proposals to reorganize the company.

Other active cases included Lehman Brothers Holding Inc <LEHMQ.PK>, which is the largest bankruptcy in U.S. history and always the most actively trade case, as well as AbitibiBowater Inc, which recently exited bankruptcy, Chemtura Corp and Workflow Management Inc, which filed for bankruptcy in September.

By value, the biggest cases after Lehman were Cabi Downtown LLC, Motors Liquidation Co <MTLQQ.PK> (the former General Motors), chemical company Tronox <TRXAQ.PK> and Circuit City Stores Inc, a retailer that liquidated.

Cabi, a Florida developer, had one claim worth $205 million change hands.

(Reporting by Tom Hals, editing by Dave Zimmerman)

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