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Article: Imagining a bankrupt phone company ; Path for FairPoint, state far from clear
- Article from:
- Concord Monitor
- Article date:
- July 5, 2009
- Author:
CopyrightCopyright 2009 Concord Monitor. Provided by ProQuest LLC. (Hide copyright information)
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No one can predict exactly what would happen if FairPoint
Communications were to file for bankruptcy. The company announced
last month that it could file if debt holders don't allow the
company more time to make interest payments on $530 million in
bonds. One thing is certain: It wouldn't be cheap.
Bankruptcies are expensive for all parties involved. In this
case, the state of New Hampshire has more at stake than the cost of
state attorneys' time and its consultant budget.
When state regulators approved the sale of the landline network
in New Hampshire, Maine and Vermont from Verizon to FairPoint, they
balanced concerns over FairPoint's ability to manage a network more
than five times the ...