Global Cloud Xchange Exits Bankruptcy After Paring $150m Debt

U.S. Bankruptcy Court for the District of Delaware has confirmed Global Cloud Xchange Ltd.’s plan of reorganization clearing the way for the company to complete its Chapter 11 financial restructuring, the firm said in an emailed statement.

• On its emergence from Chapter 11 following regulatory approval, GCX will be an independent company backed by the strong ownership of its existing senior secured note holders, the statement showed
• GCX will have reduced its debt by $150 million and gained access to new working capital to further its strategic plan
• NOTE: Global Cloud Xchange Plans to Exit Bankruptcy as Standalone ...