By Chris Holbrook, 1 May 2001 14:21
NEWS The troubled ISP has also made Lawrence Hyatt, chief financial officer, chief restructuring officer and announced a restructuring committee following the de-listing of the company by Nasdaq on Friday. When results were announced last month, the company, an ISP operating in 27 different countries, announced its intention to sell part or all of the business to meet mounting debts. Net loss from continuing operations was $2.7bn for the fourth quarter of 2000. The company has warned shareholders that restructuring could involve reorganisation under the federal bankruptcy code and that, despite the disposal of assets, the company may still run out of cash.
In order to post a comment you need to be registered and logged in.
Log in or create your silicon.com account below