Chapter 11
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Satellite operator Intelsat has emerged from bankruptcy with its debt cut from US$16 billion to $7 billion, and with $6.7 billion in new finance. -
Frontier Communications, the US company that emerged from Chapter 11 bankruptcy protection last year, says it has added 45,000 fibre broadband customers in a single quarter.
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GTT Communications has formally started its restructuring, by filing for bankruptcy protection under chapter 11 of the US law.
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Frontier Communications has hired an executive with deep experience of retail and bankruptcy as its chief digital information officer.
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The New York Stock Exchange is delisting GTT Communications’ shares as, at the same time, doubts are cast on the company’s plan to sell its infrastructure division for more than US$2 billion.
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Global Cloud Xchange CEO Carl Grivner has said the company is looking forward to a "new era of growth" having concluded its financial restructuring.
Forthcoming events
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Capacity Middle East 2024
Capacity Middle East is the largest carrier meeting for the Middle Eastern region, uniting the region’s key ICT players.
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The UK government pushed through approval of its US$500 million investment in bankrupt satellite company OneWeb despite objections from officials and the politician who chairs the parliamentary business strategy committee.
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Ministers in the UK government agreed to invest $US500 million in OneWeb last night, according to numerous reports – mainly by political journalists in London.
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Days before the deadline for bids to rescue satellite company OneWeb from bankruptcy, the UK is reported to be seeking support to buy the company to turn it into a positioning service.
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Intelsat, the 55-year-old satellite company, filed for bankruptcy protection last night, in a move apparently designed to allow it to benefit from a refarming of spectrum in the US.
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Frontier Communications (FC) has confirmed its intention to file for bankruptcy under the US’ Chapter 11.
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Bill Barney left Global Cloud Xchange (GCX) this morning following the company’s emergence from bankruptcy and Rory Cole, the company’s CFO, is now interim CEO.
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Global Cloud Xchange (GCX) has announced that it will become a standalone company after its Chapter 11 proceedings and after completing the initial phase of its previously announced sale process.
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Bill Barney has stepped down from his job as CEO of troubled Indian operator Reliance Communications (RCom), so that he has focus on his other task, as head of RCom subsidiary Global Cloud Xchange (GCX).
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Troubled carrier Global Cloud Xchange (GCX) filed for Chapter 11 bankruptcy protection in New York last night, in the company’s latest attempt to keep its business alive.
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Windstream Holdings has filed for bankruptcy protection after an 18-month legal fight with hedge fund Aurelius Capital Management came to an abrupt end.
