New Global Telecom

Division: Phoenix Capital Resources, Phoenix Management Services


New Global Telecom was a $240 million wholesaler of airtime and manager of network systems for the telecom industry based in Golden, Colorado.


The Company had experienced a severe liquidity crisis and was unable to make scheduled payments to the telecommunication companies from whom it acquired minutes for resale. As a result, the Company’s wholesale division was effectively shut down and the Company was forced to seek Chapter 11 bankruptcy protection.


Phoenix Management Services served as interim CFO and provided financial advisory services throughout the course of the Company’s bankruptcy proceeding. After 11 months, the Company’s Plan of reorganization was approved and NGT successfully emerged from bankruptcy protection.