- Why Stronger Chinese Yuan Would Benefit US Investors
- Hewlett-Packard to Acquire 3Com for $2.7 Billion in Cash
- AIG CEO: I Remain 'Totally Committed' to Firm
- How the Droid and Google Threaten the GPS Makers
- A Day on the USS Harry S. Truman
- Commercial Real Estate Near Disaster: Fund Manager
- This Town Will Pay YOU $10,000 to Buy a House
- Billionaire Paulson Raises Cadbury Stake Again
- Applied Materials Profit, Sales Top Wall Street Forecasts
- What to Expect From Disney Earnings?
- HP's Shot Across Cisco's Bow
- USC Football Blog Leads All-Access Space
- Clowning Around At Work
- Ahead of Earnings Disney Restructures Studio
- Nov. 11: Unusual Volume Leaders
- 3 'Clear Sailing' Mid-Caps For Investors: Strategist
- Intimate Apparel Sales Heating Up: Maidenform CEO
- A Day On The USS Harry S. Truman
- Ecuador proposes deficit spending to boost economy
- Pfizer drug studies fudged, report says
- Standard & Poor's to change SmallCap 600 listings
- Earnings Preview-J.C. Penney Co.
- S&P raises ratings on Dollar Thrifty Automotive
- Outdoor Channel to cut 25 pct of Winnercomm jobs
- Aegean Marine Petroleum 3Q profit up 49 percent
- Green Mountain Coffee 4Q profit doubles
- Kinross says received $125M credit guarantee
Text Size 
PORTLAND, Maine - Bondholders who are owed more than $550 million by FairPoint Communications Inc. have withdrawn a motion asking a bankruptcy judge to appoint an examiner to investigate factors leading to FairPoint's Chapter 11 bankruptcy last month.
A creditor committee claimed on Oct. 30 that FairPoint misrepresented its recovery prospects and that top managers sought to profit from the bankruptcy reorganization. It also questioned FairPoint's $23 million dividend payouts and the hiring of a new CEO without telecommunications experience.
On Tuesday, lawyers for the creditors withdrew the motion.
North Carolina-based FairPoint, which last year bought Verizon's land line and Internet assets in Maine, New Hampshire and Vermont, filed for bankruptcy on Oct. 26.
Print
Email
- Bernard and Ruth Madoff's personal possessions will be auctioned this weekend. Click ahead to see.
- US real estate prices have fallen dramatically, but some places are still doing well. See the best-performing zip codes this year.
- An Italian cashmere maker aims to make profits while creating ideal conditions for his workers.
- Just in time for the holidays, the Triumph company of Japan offers the latest innovation in women’s undergarments.
- The real result of health care reform will be bloated government and higher deficits, says Larry Kudlow.
- Vote and suggest your own, and remember--there's a fine line between a hero and a zero.
Data is a real-time snapshot *Data is delayed at least 15 minutes