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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
My company:
Restructuring Concepts LLC
My blog:
Bankruptcy News & Analysis
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  • Randall Reese
    , contributor
    Comments (35) | Send Message
     
    Author’s reply » 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
    , contributor
    Comments (35) | Send Message
     
    Author’s reply » 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
    , contributor
    Comments (35) | Send Message
     
    Author’s reply » 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
    , contributor
    Comments (57) | Send Message
     
    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
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