Hawaiian Telcom files for bankruptcy protection
Legal Topics | 2008/12/02 23:07
Hawaiian Telcom Communications Inc., the largest telephone company in Hawaii, said Monday that it had filed for Chapter 11 bankruptcy protection.

The company had been working with creditors since October on a debt-restructuring agreement and said it decided the bankruptcy-protection filing was the best course of action. It blamed the filing partly on increased competition, economic volatility and its failure to meet capital expenditure needs.

President and Chief Executive Eric Yeaman, in a letter to customers Monday, stressed that the company was not going out of business and that service would not be interrupted.

Hawaiian Telcom posted a loss of $34 million in the third quarter, its third straight quarterly loss this year. Last month the company filed documents with the Securities and Exchange Commission stating that it may seek court protection if talks with creditors failed.

Hawaiian Telcom postponed a $26 million interest payment in November and was in the midst of a 30-day grace period, which ended Monday.

Hawaiian Telecom is carrying more than $1 billion in debt, the result of financing that was arranged three years ago for the company's $1.6 billion sale from Verizon Communications to Carlyle Group, a private-equity firm based in Washington, D.C.



[PREV] [1] ..[1541][1542][1543][1544][1545][1546][1547][1548][1549].. [1756] [NEXT]
All
Headline Legal News
Legal Topics
Legal Business
Attorney News
Court News
Court Watch
Areas of Focus
Legal Interview
Opinions
Court eyes Massachusetts church-s..
Toys R Us files for Chapter 11 re..
Court: State, Not Counties Accoun..
With 2 in 3 months, Ohio executio..
Rooney gets road ban after pleadi..
3 bank customers in Germany fined..
Indian court sentences 2 men to d..
FBI Searched Ex-Oklahoma Senator'..
Chicago's lawsuit over sanctuary ..
Supreme Court Justice Ginsburg is..
Challenge to $225M Exxon settleme..
Abortion clinic dispute to be arg..
Supreme Court Backs Dayton Veto o..
Supreme Court's Kagan says Scalia..
EU court rejects Hungary, Slovaki..
NC appeals court restores man's l..
S. Indiana city's mayor defends r..
Military parts dealer guilty in p..
Court: DirecTV owes $15M to South..
Not guilty pleas entered in Lake ..




San Francisco Trademark Lawyer
San Francisco Copyright Lawyer
www.onulawfirm.com
Chicago Business Law Attorney
Corporate Litigation Attorneys
www.rothlawgroup.com
Houston Estate Administration Lawyer
www.trishaenglishlaw.com
Car Accidents Attorneys
New Rochelle Personal Injury
www.kboattorneys.com
Surry County Criminal Defense Lawyers
Yadkin County Family Law Attorneys
www.dirussolaw.com
Cobb County Criminal Attorney
Georgia Criminal Defense Lawyer
www.andrewschwartzlaw.com
Santa Ana Workers' Compensation Lawyers
www.gentryashtonlaw.com
Law Firm Web Design Templates
Lawyer Website Templates
www.webpromo.com
   Legal Resource
Headline Legal News for You to Reach America's Best Legal Professionals. The latest legal news and information - Law Firm, Lawyer and Legal Professional news in the Media.
 
 
 
Copyright © ClickTheLaw.com. All Rights Reserved. The content contained on the web site has been prepared by Click The Law. as a service to the internet community and is not intended to constitute legal advice or a substitute for consultation with a licensed legal professional in a particular case or circumstance. By using the www.clickthelaw.com you agree to be bound by these Terms & Conditions.

Law Firm Website Design by Lawyer Website Design Blog - Lawyer Web Site Design That Works