Japanese Cell Phone Co. Willcom Files For Bankruptcy

Law360, New York (February 18, 2010, 12:52 PM EST) -- Willcom Inc., a Japanese cell phone company controlled by Carlyle Group, has filed for bankruptcy protection in Tokyo court, citing struggles to compete in the tough telecommunications market.

In a statement released Thursday Willcom said it had filed for bankruptcy protection in the Tokyo District Court, reporting total liabilities of 206 billion yen, or $2.2 billion, but it assured customers that it would continue to provide services. According to Japanese research firm Teikoku Databank, the $2.26 billion Willcom bankruptcy filing is the largest ever for a...
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