FairPoint delays filing Ch. 11 reorganization plan

admin Contributor
Font Size:

PORTLAND, Maine (AP) — FairPoint Communications Inc. is again pushing back the date for filing its bankruptcy reorganization plan.

The beleaguered telecommunications company said Thursday that the deadline has been extended to Feb. 1. The company had hoped to file the plan in U.S. Bankruptcy Court in New York on Friday after pushing back the original deadline from Dec. 10.

In a statement, the company said it will use the extra time to finalize settlements with lenders, unions and other parties involved in the process.

FairPoint filed for Chapter 11 bankruptcy on Oct. 29. The North Carolina-based company has been hobbled by a heavy debt load and operational problems since it purchased Verizon Communications’ land line and Internet operations in Maine, New Hampshire and Vermont in 2008 for $2.3 billion.