Bankrupt cloud services provider Fusion Connect Inc. secured court approval to solicit votes on its plan to exchange creditor debt for equity in a reorganized company.
Fusion Connect said it remains on course to confirm a Chapter 11 restructuring plan in early November after resolving objections—raised by two groups of lenders and corporate insurance provider Chubb Ltd. companies—that could have stalled the voting process.
A New York bankruptcy judge signaled at a Sept. 24 court hearing in the U.S. Bankruptcy Court for the Southern District of New York that he would approve soliciting creditors’ votes for the plan once an ...
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