Internet Provider Broadview Networks Files For Ch. 11

Law360, New York (August 22, 2012, 10:52 PM EDT) -- Internet and data provider Broadview Networks Holdings Inc. on Wednesday filed for Chapter 11 protection in New York with a pre-packaged restructuring plan that will eliminate half of the company's secured debt and lower its interest expense by $17 million each year.

The Rye Brook, N.Y.-based company listed liabilities of $335 million and assets of up to $500 million, according to the filing. The prepackaged plan already has been approved by a large majority of the company's creditors and have received just one rejection so far,...
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