Wednesday, 15 July 2009

Primus emerges from Chapter 11 – Global

Primus Telecommunications has announced that it has come out of Chapter 11 Bankruptcy following negotiations with its lenders and a complete restructuring of its finances and share allocations. None of its operating companies in the USA, Australia, Canada, India, Europe or Brazil were included in the restructuring. The operating units have and will continue to manage and to operate their businesses normally.

Chairman and Chief Executive Officer, K. Paul Singh, commented: "Our ability to achieve an efficient and effective financial restructuring is due, in large part, to the dedication of our employees, the loyalty of our customers, and the support and cooperation of our vendors and major creditor group. We now ask them to join us as our new journey begins."