Agreement reached in FairPoint bankruptcy
CONCORD, N.H. (Legal Newsline) - New Hampshire negotiators and FairPoint Communications have reached an agreement over FairPoint's future commitments to consumers in the state, New Hampshire Attorney General Michael Delaney has announced.
The agreement, which largely leaves intact the 2008 Public Utilities Commission Order's major provisions authorizing the transfer of assets from Verizon communications to FairPoint Communications, was filed with the U.S. Bankruptcy Court Monday.
The agreement will now be filed with the New Hampshire Public Utilities Commission for review and approval.
FairPoint communications filed a bankruptcy petition with the United States Bankruptcy Court for the Southern District of New York on Oct. 26. Delaney's office then began involvement with the bankruptcy proceedings on behalf of the State, ensuring that New Hampshire consumers were not adversely affected.
The agreement was negotiated by members of Delaney's staff, staff of the New Hampshire Public Utilities Commission and the state's bankruptcy counsel. The agreement protects FairPoint's 2008 commitments from when it assumed operations from Verizon.
The agreement leaves FairPoint's obligations substantially unchanged for meeting broadband buildout, capital investment and service quality targets that were established in the Public Utilities Commission's 2008 Order.
FairPoint, in addition to its agreement with New Hampshire, also reached an agreement with representatives of the state of Vermont.