bankruptcy

 

MFN Aims to Emerge Early 2003

John Gerdelman is soliciting all the advice his peers have to offer, and there’s plenty of it to go around. The topic of conversation: how to emerge from bankruptcy. Gerdelman is the 14-year MCI executive who was brought in on 10 days notice to salvage Metromedia Fiber Network Inc. (MFN), a New York-based company that […]

AT&T to Acquire Velocita Assets

AT&T Corp. expects to close an agreement Friday to buy a portion of the assets of bankrupt long-haul carrier Velocita Corp. for $37 million in cash and stock, a source said. AT&T will buy conduit and fiber assets for $2 million in cash and $35 million in stock, the source added, but said he didn’t […]

WorldCom’s Fraud: Even Deeper, Says Investigator

A bankruptcy court examiner said in a report released Monday that WorldCom’s fraud is likely to be even greater than had been thought. Richard Thornburgh, a former U.S. attorney general, released a preliminary report that found WorldCom’s fraud could be even larger than the $7.2 billion restatement and that former CEO Bernie Ebbers guaranteed or […]

Unintended Consequences

Posted: 11/2002 Unintended Consequences ALL’S FAIR IN LOVE AND WAR … but what about business? The recent spate of Chapter 11 protection filings in the sector has spurred an unexpected debate over U.S. bankruptcy policies. It begins like this: If companies such as WorldCom are allowed to emerge from bankruptcy and are cleansed of all […]

Williams Communications Emerges from Bankruptcy

Williams Communications Group Inc., a national carrier selling voice and data services to other communications companies over a 33,000-mile backbone network, today announced it has emerged from bankruptcy with a lot less debt and a new name, WilTel. WilTel emerges with a new $375 million credit facility and no “substantial” debt obligations other than commitments […]

TAG: Understanding the Risks & Responses to Vendor Bankruptcy

Posted: 10/2002 Understanding the Risks & Responses to Vendor Bankruptcy By Greg Praske THE BANKRUPTCIES OF TELECOM PROVIDERS over the past two years have affected all channel partners. Some have suffered interruptions in their commissions. Some have had their contracts rejected. Some have pursued new sales opportunities among the bankrupt company’s customer base (A silver […]

News Briefs: SBC, Williams Communications Wrangle Over Master Agreement

Posted: 10/2002 News Briefs SBC, Williams Communications Wrangle Over Master Agreement — Josh Long AS IT WAS ON PACE to emerge from bankruptcy, Williams Communications Inc. found its largest customer, SBC Communications Inc., was seeking the legal authority to terminate or alter a Master Alliance Agreement. The modification or dissolution of the agreement would give […]

The New Global Crossing: Could It Set the Wholesale Market?

Global Crossing Ltd., a carrier’s carrier hoping to emerge from bankruptcy-court protection early next year, would have the flexibility to dictate wholesale prices once its hefty debt is eradicated, a senior executive told PHONE+ in a recent interview. “Yeah that could provide us a tremendous ability to lower prices in the market,” said Barry MacCheyne, […]

SBC Puts Williams in a Pickle

Williams Communications Inc. was in a pickle this fall. The wholesale long-haul provider was hoping to emerge from bankruptcy court this fall, but its largest and most important customer, SBC Communications Inc., was seeking the legal authority to terminate or alter a Master Alliance Agreement. The modification or dissolution of the agreement would give SBC, […]

The Letter: And the Winner Is

Posted: 09/2002 And the Winner Is AS WE HEAD INTO THE CAMPAIGN SEASON, it seems appropriate to talk about winners and losers. Only, it’s not tight races for Senate and House seats that weigh on our minds, it’s the contest for the embattled telecom market. WorldCom’s July bankruptcy filing signaled a new, more desperate phase […]

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