Copies Of All Four FiberTower Corp. Bankruptcy Petitions - Randall Reese

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Randall Reese founded Restructuring Concepts LLC after spending nearly six years with the international law firm of Skadden, Arps, Slate, Meagher & Flom LLP in its Corporate Restructuring practice group. During that time, he represented clients in many large and complex chapter 11 cases,... More

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Copies Of All Four FiberTower Corp. Bankruptcy Petitions 4 comments

Jul 17, 2012 10:15 PM | about stocks: FTWR, FTWRD

We've posted copies of all four chapter 11 petitions filed today on our blog. You can find them here (one each for each company that filed: FiberTower Corp., FiberTower Network Services Corp., FiberTower Licensing Corp., and FiberTower Spectrum Holdings, LLC):
http://chapter11cases.com/fibertower-corporation-copies-of-the-companies-voluntary-chapter-11-bankruptcy-petitions/

Themes: FiberTower Corp., FiberTower Network Services Corp., FiberTower Licensing Corp., FiberTower Spectrum Holdings, LLC Stocks: FTWR, FTWRD

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Randall Reese Comments (35)

We've also posted the list of the largest 30 unsecured creditors of FiberTower and its affiliates on a consolidated basis. This list was filed with the bankruptcy court today. You can find the list here:

http://bit.ly/MvGXtF

17 Jul 2012, 10:39 PM Reply Like

Randall Reese Comments (35)

Details of FiberTower's Proposed Plan of Reorganization - Unsecured Creditors & Shareholders to Receive No Recovery http://bit.ly/LyGyW0

18 Jul 2012, 05:05 PM Reply Like

Randall Reese Comments (35)

MORE INFO: Details of FiberTower's Proposed Plan of Reorganization - Unsecured Creditors & Shareholders to Receive No Recovery http://bit.ly/LyGyW0

18 Jul 2012, 05:05 PM Reply Like

Sand Paints Comments (56)

Would you comment on news reports and court decisions that indicate Fiber Tower has abandoned it's proposed plan of reorganization and now has a court approved procedure to auction off employee contracts and business assets with bids being solicited until November 1 and one stalking horse bid signed.

Fiber Tower has also received a court ordered injunction to the FCC not to hamper Fiber Tower spectrum leases.

My question is that Fiber Tower management repeatedly states in documents to the court their transactions and negotiations are presented in "good faith", especially regarding the new plan to auction off to the highest bidder, so how does that square now with "good faith" to the common shareholders who obtained their interests in the company also by being the highest bidders at the time they acquired their common shares?

Will the court take this favorably into consideration on the proposal to exclude the common share holders and negate that Fiber Tower request due to this now becoming a sale rather than a re-organization of the company?

I maintain as a common shareholder that we as a class should be combined or united with our investment in the company "in good faith" and relying on other rights protected by market regulations, law, and common practice.

We value your opinion and any suggestions. This seems to be more of a situation of "selling the company" than entirely a bankruptcy filing.

4 Oct 2012, 01:58 PM Reply Like