Trans National Communications International has filed plans to emerge from Chapter 11 bankruptcy protection. TNCI, a telecommunications reseller, network provider and CLEC, is seeking confirmation of the reorganization plan by the U.S. Bankruptcy Court for the State of Massachusetts by May 31, 2012.
"We owe a great deal of thanks to our agents and our customers for their ongoing loyalty and support. The speed with which we have reached this point in the process would not have been possible without them," Brian Twomey, TNCI president and CEO, said.
The company is continuing discussions with the Creditors' Committee, key carriers, and other holders of Secured Claims.
“We intend to continue to keep the lines of communication open with our agents as we move through the process of emergence and will provide periodic updates as we hit key milestones," added Michael Ginsburg, TNCI vice president of sales.
The Boston-based TNCI filed for Chapter 11 bankruptcy protection on October 9, 2011, and according to the filing obtained by Boston Business Journal, and owed more than $10 million to its largest creditors, including $5 million to Sprint Communications, $1.9 million to Qwest/CenturyLink, $1.66 million to AT&T, $1.2 million to Universal Service Administrative Co. of Atlanta; and $1 million to Verizon.
