Frontier Communications’ plan of reorganization approved by court

By Wendy Van Sickle

Columbus, Ohio, Aug. 21 – Frontier Communications Corp.’s plan of reorganization has been approved by the U.S. Bankruptcy Court for the Southern District of New York, according to a news release Friday evening.

Frontier said it expects to complete its restructuring and successfully emerge from Chapter 11, following the completion of the regulatory approval process.

“Upon emergence, the company will have reduced its total outstanding indebtedness by more than $10 billion and have achieved significant financial flexibility to support continued investment in its long-term growth,” the release states.

“We are pleased to have reached this next critical milestone in our expedited restructuring process, which will position Frontier for long-term growth and success,” Robert Schriesheim, chairman of the finance committee of the board of directors, said in the release.

Since commencing its in-court restructuring, Frontier has secured regulatory approvals or favorable determinations in six states and is progressing with the remaining regulatory approvals.

Frontier is a telecommunications company based in Norwalk, Conn. The company filed bankruptcy on April 14 in the under Chapter 11 case number 20-22476.

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