Frontier Bankruptcy Plan Approved by Bankruptcy Court

The US Bankruptcy Court for the Southern District of New York approved Frontier's bankruptcy plan which will reduce the company’s debt by $10 billion, giving the company what it says it needs to emerge from bankruptcy and position itself for long term growth. Much of the company’s debt was accumulated from high profile acquisitions of Verizon network assets. The company also suffered from lack of investment in fiber network assets, with too much dependency on legacy DSL services. Frontier still needs regulatory approvals from additional states and the Federal Communications Commission before it can completely emerge from Chapter 11 bankruptcy and begin anew. A firm date for the company’s exit has not been announced yet.