May 27, 2018
Business Latest News | Poll Questions | Memorial Day | Bangor Day Trips | Center for Wildlife

FairPoint delays filing bankruptcy plan

The Associated Press

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.

Have feedback? Want to know more? Send us ideas for follow-up stories.

You may also like