Rural Internet Co. Enters Ch. 11 After Bandwidth Drought

Law360, New York (October 6, 2011, 6:47 PM EDT) -- Open Range Communications Inc., a company that aimed to provide broadband Internet connections to rural communities in the U.S., on Thursday filed for Chapter 11 bankruptcy protection citing problems with securing wireless bandwidth.

The Greenwood Village, Colo.-based company said that it aimed to either sell off its assets through a section 363 sale or wind down its operations through a court-supervised liquidation, despite having won a $267 million loan guarantee from the U.S. Department of Agriculture's Rural Utilities Services in January 2009. The company also received...
To view the full article, register now.
Law360 Pro Say Podcast
Check out Law360's new podcast, Pro Say, which offers a weekly recap of both the biggest stories and hidden gems from the world of law.