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Regulators Clear FairPoint To Emerge From Bankruptcy

Law360 (January 24, 2011, 8:01 PM EST) -- Regulators have cleared the way for FairPoint Communications Inc. to formally emerge from bankruptcy, although the company still faces an appeal from Verizon Communications Inc. challenging the court's approval of its reorganization plan.

FairPoint said Monday that its reorganization plan had officially gone into effect after the company secured required approvals from the Federal Communications Commission and public utilities commissions in Maine, Vermont, New Hampshire, Illinois, New York and Virginia — states where the company provides voice, Internet and data services.

Verizon filed a notice of...
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