Tuesday, September 14, 2010

CommPartners BK Update

Word on the street: CommPartners Bankruptcy will be resolved via liquidation of assets.

As the Vegas Sun wrote back on June 14, 2010:

"A group of telecommunications companies ... filed for Chapter 11 bankruptcy protection Sunday in order to block AT&T from shutting off services for its network. The filings were made in Nevada bankruptcy court by Las Vegas-based companies CommPartners Holding Corp., CommPartners Carrier Services Corp., CommPartners Network Services LLC and CommPartners LLC."

CommPartners lost $5M on $31M in revenue in 2009. According to the Vegas Sun, "as of April 30 it had assets of $8.5 million against liabilities of $6.3 million.....AT&T had given the company until Monday to pay a disputed balance of $1.35 million or AT&T would suspend new orders and customer service activities for CommPartners."

I guess AT&T just wants the money.

1 comment:

Jay Reeder said...

This update to the Commparters bankruptcy was found on the web.

http://www.faqs.org/sec-filings/100924/KeyOn-Communications-Holdings-Inc_8-K/