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Keyword: 360networks

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  • GOING BUST IS NOT THE SAME ALL OVER..

    07/27/2002 12:06:41 PM PDT · by fight_truth_decay · 1 replies · 244+ views
    CFO.com ^ | July 22,2002 | Kris Frieswick,
    When Vancouver-based 360Networks Inc. faced insolvency and opted for bankruptcy protection in June 2001, CFO Vanessa Wittman quickly realized that not all workouts are created equal. The filing, for example, caused the company to shut down fledgling operations in Asia and triggered liquidations of its assets throughout Europe--most notably networks it had gained through swaps with other telecom providers. Only in the United States and Canada was the company able to work with the courts to restructure without being forced to liquidate. Outside of those two countries, says Wittman, "the most developed sense of a bankruptcy procedure is in the...