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ICGX heisst definitiv, laut der Nasdaq, ICGXQ. ICG

Communications, Inc. ICGXQ
Nov. 29, 2000 Market Closed

Last Sale: $ 0.3125 Net Change: unch Web Site
Today`s High: N/A Today`s Low: N/A
Best Bid: N/A Best Ask: N/A
Volume: 0 Previous Close: $ 0.3125
Market: Nasdaq-NM Common Stock

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Dazu die neuen Nachrichten:ICG COMMUNICATIONS BANKRUPTCY NEWS: First Issue Free

TRENTON, N.J., Nov. 29 /PRNewswire/ -- Bankruptcy Creditors` Service, Inc., today announced publication of ICG COMMUNICATIONS BANKRUPTCY NEWS, tracking the chapter 11 reorganization undertaken by ICG Communications, Inc., (Nasdaq: ICGXQ) and its various debtor-affiliates before the United States Bankruptcy Court in Wilmington, Delaware.

"ICG will be a relatively speedy restructuring," Peter A. Chapman, president of Bankruptcy Creditors` Service, Inc., and editor of ICG COMMUNICATIONS BANKRUPTCY NEWS, predicts. "Either the bondholders who are in the money will agree to swap their claims for an equity interest in the enterprise or the assets will be sold to the highest bidder and the pile of cash to which the company is reduced will be divided-up among the creditors."

Chapman indicates that the first issue of ICG COMMUNICATIONS BANKRUPTCY NEWS, released last week, includes:

-- background information about the Company`s operations and finances;

-- detailed information extracted from the Debtors` chapter 11 bankruptcy
petitions;

-- a consolidated list of the Debtors` 50-largest unsecured creditors;

-- an in-depth review of the roll-up style $200,000,000 DIP Financing
Facility with Royal Bank of Canada, Morgan Stanley Senior Funding,
Inc., Bank of America, N.A., Barclays Bank Plc and a consortium of
lenders;

-- a calendar of the key dates and deadlines in the Debtors` chapter 11
cases; and

-- the United States trustee`s plans and efforts to form one or more
official committees to represent the interests of the Debtors`
creditors.


Chapman indicated that the second edition of the newsletter will provide subscribers with a detailed review of:

-- The Debtors` applications to employ Skadden, Arps, Slate, Meagher &
Flom as their bankruptcy counsel and the parade of other professionals
that will help management push and pull the Company through the
bankruptcy process;

-- the operational and financial impact of the handfuls of motions asking
Judge Robinson for emergency relief in order to maintain "business as
usual" from a customer`s or employee`s perspective.


ICG COMMUNICATIONS BANKRUPTCY NEWS is distributed on a subscription basis by e-mail for $45 per issue. New issues are published as significant activity occurs (generally every 10 to 20 days) in ICG`s cases.

Chapman relates that a free copy of the first issue of ICG COMMUNICATIONS BANKRUPTCY NEWS is available via the Internet at http://www.bankrupt.com/icg.txt using a standard Web browser.

Since 1990, BCSI has published similar newsletters tracking billion-dollar insolvency proceedings. Currently, BCSI provides similar coverage of the chapter 11 cases involving Wheeling-Pittsburgh, Safety-Kleen Corp., The Loewen Group International, Inc., Harnischfeger Industries, Inc., Pillowtex Corporation, Fruit of the Loom, and the Top Five healthcare restructurings (Vencor, Sun, Mariner, Genesis and Integrated Health Services).

Additionally, BCSI co-publishes the TROUBLED COMPANY REPORTER. The TCR provides daily news by e-mail about approximately 700 high-profile restructurings and insolvency proceedings around the globe. Go to http://www.bankrupt.com/periodicals/tcr/tcr.form.html to sign-up for a 30-day free trial subscription to the TCR.


/CONTACT: Peter A. Chapman of Bankruptcy Creditors` Service, 609-392-0900, or [e-mail]/