NEW YORK (Reuters) - Bankrupt telecommunications company Global Crossing Ltd.'s creditors' committee yesterday affirmed its support for the sale of a majority of the company to two Asian companies and said an alternative deal proposed by IDT Corp. is not credible.

The creditors' committee said the existing deal, which calls for Hutchison Telecommunications and government-run Singapore Technologies Telemedia to buy a 65 percent stake in high-speed network operator Global Crossing, gives the company's unsecured creditors the best means to recoup some of their losses.

The deal has been confirmed by the bankruptcy court but awaits regulatory approval by the Committee on Foreign Investment in the United States.

The creditors' committee said it is hopeful the deal will be approved and that it will do its best to ensure that the review process runs its course without interference.

Last month, telephone services company IDT said it would launch a rival $255 million bid to acquire Global Crossing, and said US national security concerns would scuttle the existing deal with the Asian companies.

IDT is not permitted to submit a formal bid until the sale to the Hutchison group is finalised or rejected.

"These parties had a full and fair opportunity to submit a bid during the bankruptcy auction process that extended over many months. Expressions of interest from parties that failed to bid in that process are not now credible," Global Crossing creditors' committee said in a statement.

Global Crossing withdrew its application from the Committee on Foreign Investment in the United States (CFIUS), a panel made up of top US national security and economic officials.

CFIUS had concerns about a large US telecommunications company being majority owned by a company with strong ties to China, sources familiar with the process previously told Reuters.

The committee raised concerns about Hutchison's ownership, not about Singapore Technologies' part of the deal, the sources said. It is now up to Hutchison, Singapore Tech and Global Crossing lawyers, advisers and bankers to restructure the deal in such a way that it meets with CFIUS approval.

One proposal currently under consideration is that Hutchison would retain its stake of Global Crossing but give up the right to have members on the board, sources said.

Under the original plan, when Global Crossing emerged from bankruptcy, Hutchison and Singapore Tech would each get the right to appoint four new board members, in addition to a new co-chairman.

But to allay CFIUS fears, Hutchison is now considering giving its four seats to four approved US officials, effectively diminishing its role to that of a silent partner, the sources said.