Court OKs FairPoint Ch. 11 Plan Despite Verizon Worries
Judge Burton Lifland of the U.S. Bankruptcy Court for the Southern District of New York signed off on FairPoint’s third amended reorganization plan, which provides for a $1 billion new term loan and $75 million in debtor-in-possession financing.
On the plan’s effective date, a reorganized FairPoint will issue 37.5 million shares of new common stock with...
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