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|Subject: Metromedia Fiber Network Files Disclosure Statem||Date: 5/12/2003 10:19 AM|
|Author: muffinXL||Number: 2290 of 2302|
One further step in the right direction, whether this applies to us commons remains to be seen!
Any views on this, does anyone know something about timing for emerging from Chapter 11?
Metromedia Fiber Network Files Disclosure Statementwith the United States Bankruptcy Court
Monday, May 12, 2003 09:59 AM ET Printer-friendly version
NEW YORK, May 12 /PRNewswire/ -- Metromedia Fiber Network, Inc. (MFN, news), the leading provider of optical communications infrastructure solutions, announced today that it has filed its Disclosure Statement in the United States Bankruptcy Court for Southern District of New York. This filing follows MFN's submission of its Plan of Reorganization and moves the company further along in the process to emerge from Chapter 11.
The Statement of Disclosure contains documentation describing the provisions in the Plan of Reorganization and providing detailed information about the Plan and Company.
MFN is the leading provider of optical communications infrastructure solutions. The Company combines the most extensive metropolitan area fiber network with a global optical IP network, state-of-the-art data centers and award winning managed services to deliver fully integrated, outsourced communications solutions to high-end companies. The all-fiber infrastructure enables MFN customers to share vast amounts of information internally and externally over private networks and a global IP backbone, creating collaborative businesses that communicate at the speed of light.
On May 20, 2002, Metromedia Fiber Network, Inc. and most of its domestic subsidiaries commenced voluntary Chapter 11 cases in the United States Bankruptcy Court for the Southern District of New York.
For more information on MFN, please visit our Web site at http://www.mfn.com.
This release contains forward-looking statements pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. These statements involve risks and uncertainties, including the implementation of the proposed restructuring and bankruptcy court approval, and the risks detailed from time to time in the Company's filings with the Securities and Exchange Commission. Further information on factors that could affect the company's financial and other results is included in the company's Forms 10-Q, 10-K and S-3, filed with the Securities and Exchange Commission.
SOURCE Metromedia Fiber Network, Inc. (MFN, news)
CONTACT: Kara Carbone of MFN, +1-914-683-6386, firstname.lastname@example.org
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