FairPoint Communications Files Chapter 11 Bankruptcy
According to an article in the Star-Telegram, FairPoint Communications filed for Chapter 11 bankruptcy protection Monday after agreeing to a debt reduction deal with its creditors that will lower its debt by 62 percent. FairPoint, owns and operates phone companies in 18 states with a total of 1.65 million lines. The company has been struggling to repay its large debt load while its revenues have continued to fall. Because of this the …
Tags: Chapter 11 Title 11 United States Code FairPoint Communications
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