Dissolution of a stay in federal bankruptcy court means FairPoint...
Dissolution of a stay in federal bankruptcy court means FairPoint Communications must begin on March 1 crediting Maine customers’ bills for rate adjustments required because the company failed to meet service quality benchmarks in 2008-2009, the state Public Utility…
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Commission said. The Tuesday dissolution of the stay authorizes enforcement of a November commission order that FairPoint customer bills in Maine be lowered by $1.72 per line per month for a year starting March 1, the commission said. The rate adjustment will cost the company slightly more than $8 million, it said. The regulator had ordered FairPoint to credit customer bills starting Dec. 1, but the company’s bankruptcy filing led to postponements and a court- ordered mediation. The Maine commission staff member who participated in the mediation agreed Tuesday to recommend that the commission approve regulatory requests by the telco in a reorganization plan the company filed Monday in bankruptcy court, the commission said. Utility commissions in Vermont and New Hampshire have approved the plan, company CEO David Hauser said Monday (CD Feb 8 p8). “FairPoint’s requests are related to change of control of the company, and certain modifications to the broadband build-out and pricing requirements which had been imposed by the Commission on FairPoint in the 2008 order approving the FairPoint/Verizon merger,” the Maine commission said. “The Commission expects FairPoint to file a petition in the next several days asking the Commission to commence a public proceeding in order to consider the company’s request for approval of a proposed change in control of the company and for modifications of provisions of the 2008 Verizon/FairPoint merger order.”