• About The Expecting Potential Frontier Communications Of Ch11 Bankruptcy Plan?

  • Back
 by 
About The Expecting Potential Frontier Communications Of Ch11 Bankruptcy Plan?

Frontier Communications Corporation is a provider of communications services in the United States. This company is offering a portfolio of communications services for residential and business customers. These products and services are including data and Internet services, video services, voice services, access services, and customer premise equipment (CPE). The NASDAQ FTR or FTR stock newsat https://www.webull.com/quote/nasdaq-ftr company is offering a range of broadband services. It is also offering wireless broadband services in various markets utilizing networks that it owns or operates. This company is offering secure products and this is including computer security, cloud backup and sharing, identity protection and equipment insurance.

Ch.11 Filing Expected

  • Under a Ch. 11 reorganization plan is expecting that FTR shareholders will receive no recovery and the shares will be canceled on the plan’s effective date.
  • The shares would be continued to trade until the plan’s effective date but under a different ticker symbol.
  • Holders of the unsecured notes should receive some recovery, but the actual total recovery for retail holders of unsecured notes could be less than certain institutional unsecured noteholders.

Ch.11 Bankruptcy Process

Those Seeking Alpha readers are following most likely very familiar with the Ch.11 bankruptcy process, but for others new to bankruptcy, there is a summary of the usual process:

  • The company files for Ch.11 in a federal bankruptcy court they select. The company has 120 days of exclusivity to file a reorganization plan, which is often extended.
  • Various claim holders are divided into classes by their claim priority. They vote as a class. The U.S. Trustee appoints an official committee of unsecured creditors.
  • The U.S. trustee also appoints an official equity committee, if the trustee feels a committee is warranted. After the reorganization plan is filed, there is a hearing to approve the adequacy of the disclosure statement.
  • Ballots are then solicited and any objections are filed. Only one voting class is needed for the plan to be confirmed by the court. All the other classes can vote against and the plan still could be confirmed if it meets the standards set in section 1129of Bankruptcy Code.
  • A simple majority of claim holders within a class and a 2/3 dollar amount of the claim amount in that class are needed for that class to accept the plan. The plan is becoming effective often about two weeks after the confirmation hearing.You can also check the Nyse hpe news at https://www.webull.com/quote/nyse-hpe.

Category: Finance - Tags: - Comments: Comments Off on About The Expecting Potential Frontier Communications Of Ch11 Bankruptcy Plan?