Cambrian Communications Files for Reorganization.
Business Editors/Hi-Tech Writers
FAIRFAX, Va.--(BUSINESS WIRE)--Sept. 20, 2002
Cambrian Communications today announced that the company filed voluntary petitions for reorganization under Chapter 11 of the U.S. Bankruptcy Code Bankruptcy Code may refer to: - Bankruptcy in Canada
- Bankruptcy in the United States
- Bankruptcy in China
in the United States United States, officially United States of America, republic (2005 est. pop. 295,734,000), 3,539,227 sq mi (9,166,598 sq km), North America. The United States is the world's third largest country in population and the fourth largest country in area. Bankruptcy Court bankruptcy court n. the specialized Federal court in which bankruptcy matters under the Federal Bankruptcy Act are conducted. There are several bankruptcy courts in each state, and each one's territory covers several counties. . This will allow the Company to continue operating in the ordinary course of business while it develops a reorganization plan A scheme authorized by federal law and promulgated by the president whereby he or she alters the structure of federal agencies to promote government efficiency and economy through a transfer, consolidation, coordination, authorization, or abolition of functions. .
"Like most of our industry peers, these steps are necessary in order to restructure our business in the wake of the telecommunications shakeout currently underway", said Brian Oliver, Chairman and Chief Executive Officer of Cambrian. "This action provides us the best opportunity to operate our core business and provide quality service to our customers, while we reorganize to align our business with the new industry environment."
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