nanog mailing list archives
RE: Covad, Chapter 11 !
From: Roeland Meyer <rmeyer () mhsc com>
Date: Wed, 8 Aug 2001 22:38:44 -0700
Some bond-holders can agree in principle. But, it takes a judge to allow them to go to *their* backers and help *them* pitch the deal.
From: Christopher A. Woodfield [mailto:rekoil () semihuman com] Sent: Wednesday, August 08, 2001 11:06 AM I think the one exception to the rule in Covad's case is that Covad seems to have their reorg plan already in place and with the blessing of the majority, if not all, of their bondholders. I have no experience with bankruptcy law, but given the fact that the debt-retiring deal has been made, where is the need to file Chapter 11? To flush out the bondholders who haven't agreed to the stock-for-debt deal? -C On Wed, Aug 08, 2001 at 08:41:07AM -0700, Roeland Meyer wrote:From: up () 3 am [mailto:up () 3 am] Sent: Wednesday, August 08, 2001 7:57 AM On Wed, 8 Aug 2001, deeann mikula wrote:On Wed, 8 Aug 2001, Smith, Rick wrote:Just found this... http://www.internetweek.com/story/INW20010807S0008i read a similar article y'day, and that was the firstthat i hadheard mention of rhythms going down. either i was too busypulling myhair out last month or they were really good aboutkeeping it quiet.*sigh* looks like verizon is gonna be the only xdsl providerleft solventwhen the dust settles. how scary is that, and how predictable?Although this may well ultimately prove true, people dorealize thatfiling for chapter 11 is not synonymous with going out ofbusiness,right?Show me one case, in the xDSL CLEC business where this hasheld true. Thusfar, *every* one of them, that has filed CH11, has gone outof businesswithin 30 days, as near as I can tell. The track record ispretty dismal. -- --------------------------- Christopher A. Woodfield rekoil () semihuman com PGP Public Key:
http://pgp.mit.edu:11371/pks/lookup?op=get&search=0xB887618B
Current thread:
- Re: Covad, Chapter 11 !, (continued)
- Re: Covad, Chapter 11 ! Mitch Halmu (Aug 08)
- Re: Covad, Chapter 11 ! Valdis . Kletnieks (Aug 08)
- Re: Covad, Chapter 11 ! Mitch Halmu (Aug 08)
- Re: Covad, Chapter 11 ! Jeff Mcadams (Aug 08)
- Re: Covad, Chapter 11 ! Steven J. Sobol (Aug 08)
- Re: Covad, Chapter 11 ! Brian Wallingford (Aug 08)
- Re: Covad, Chapter 11 ! Steven J. Sobol (Aug 08)
- Re: Covad, Chapter 11 ! Valdis . Kletnieks (Aug 08)
- Re: Covad, Chapter 11 ! Mitch Halmu (Aug 08)
- Re: Covad, Chapter 11 ! Christopher A. Woodfield (Aug 08)