Phoenix serves as interim CFO and provides financial advisory services for a manager of network systems and successfully emerges the Company from bankruptcy protection.
The Company was a $240 million wholesaler of airtime and manager of network systems for the telecommunication industry based in 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 the Company successfully emerged from bankruptcy protection.
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