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FairPoint delays filing Ch. 11 reorganization plan

Fri, 01/15/2010 - 7:20am
The Associated Press

PORTLAND, Maine (AP) – FairPoint Communications Inc. is again pushing back the date for filing its bankruptcy reorganization plan.

The beleaguered telecommunications company said Thursday that the deadline has been extended to Feb. 1. The company had hoped to file the plan in U.S. Bankruptcy Court in New York on Friday after pushing back the original deadline from Dec. 10.

The company said it will use the extra time to finalize settlements with lenders, unions and other parties involved in the process.

FairPoint filed for Chapter 11 bankruptcy on Oct. 29. The North Carolina-based company has been hobbled by a heavy debt load and operational problems since it purchased Verizon Communications' landline and Internet operations in Maine, New Hampshire and Vermont in 2008 for $2.3 billion.

In Maine, utility regulators are being asked by a Biddeford-based phone and Internet company to review FairPoint's business practices.

In a petition to the Public Utilities Commission, Great Works Internet said FairPoint is overbilling for use of its lines and is threatening to disconnect some of its customers. Maine's public advocate is expressing support for Great Works' petition and has filed a motion to intervene.

FairPoint spokesman Jeff Nevins said the company is working on its response to the complaint.

More Broadband Direct 1/15/10:
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•  NCTA to FCC: Keep Internet open
•  FCC hears from tech heavyweights on net neutrality
•  Verizon intros new pricing
•  Hawaii renews Time Warner's cable franchise
•  In the media: Moto just can't break up
•  OpenTV files with SEC over Kudelski deal
•  Shaw logs Q1 profit, affirms wireless build-out
•  FairPoint delays filing Ch. 11 reorganization plan
•  Tek intros tester for core network
•  Intel outlook points to PC industry recovery
•  Hardware boosts December video game sales
•  Broadband Briefs for 01/15/10

 

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