FairPoint asks Vt. to reconsider disapproval of bankruptcy plan

Posted Aug. 09, 2010, at 3:26 p.m.

MONTPELIER, Vt. — FairPoint Communications says it will submit more information to Vermont regulators in hopes of getting them to reverse their disapproval of the company’s plan to emerge from bankruptcy.

The company had been considering trying to get a federal bankruptcy court effectively to overturn the June 28 decision of the Public Service Board. But Michael Smith, FairPoint’s Vermont president, tells The Associated Press the company has decided to go back to the Vermont board first.

FairPoint declared bankruptcy last October and its plan to rework its finances and emerge from bankruptcy by the end of this summer has been approved in the 17 other states where it operates. Vermont is the sole exception.

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