US telco FairPoint Communications has made a new restructuring plan that will reduce its debts to US$1.1bn and leave Chapter 11 bankruptcy protection, according to reports.
Local newspaper the Charlotte Business Journal reported on 7 January that…
US telco FairPoint Communications has made a new restructuring plan that will reduce its debts to US$1.1bn and leave Chapter 11 bankruptcy protection, according to reports.
Local newspaper the Charlotte Business Journal reported on 7 January that Fairpoint has reduced its revenue projections for the next three years. Lenders have also agreed to make it easier for Fairpoint to repay its debts, while regulators have cleared some fines that Fairpoint incurred in 2008 and 2009.
A bankruptcy judge will consider Fairpoint’s new restructuring plan on January 13.
