Law360, New York (October 26, 2009, 8:18 PM ET) -- FairPoint Communications Inc. filed for Chapter 11 protection Monday after reaching an agreement with lenders that will allow the debt-ridden telephone company to shave $1.7 billion from its balance sheet.
The company filed the petition in the U.S. Bankruptcy Court for the Southern District of New York, listing more than $1 billion each in assets and liabilities. The filing includes all its subsidiaries.
Charlottesville, N.C.-based FairPoint said in a statement Monday that it planned to “promptly” file a reorganization plan that reflects a deal it has...
FairPoint Enters Ch. 11 After Striking Deal With Lenders
To view the full article, take a free trial now.
