FairPoint delays filing bankruptcy plan

Posted Dec. 09, 2009, at 2:09 p.m.

PORTLAND, Maine — FairPoint Communications Inc. says it’s going to take more time to file its bankruptcy reorganization plan.

The troubled telecommunications company said Wednesday it will file the plan by Jan. 15 in U.S. Bankruptcy Court in New York. Its original filing deadline was Thursday.

The company said it is pushing back the deadline to finalize settlements with lenders, unions and other parties involved in the reorganization process.

North Carolina-based FairPoint filed for Chapter 11 bankruptcy on Oct. 26, barely 18 months after buying Verizon Communications’ land line and Internet operations in Maine, New Hampshire and Vermont. The company has been suffering under a heavy debt load and technology problems.