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Court Approves 'First Day' Frontier Bankruptcy Filings Allowing Operations to Continue

Frontier Communications Corp. says that the U.S. Liquidation Court for the Southern District of New York has given it interval endorsement for its "first day" movements identified with Chapter 11 insolvency filings on Tuesday. The court has approved Frontier to pay worker compensation, give human services and different advantages and proceed with certain client programs. The organization recently said that it has responsibilities for $460 million in indebted person under lock and key (DIP) financing and $700 million money close by. This will give the organization liquidity of more than $1.1 billion if the court endorses plans. "We are satisfied to have gotten the endorsement of our First Day movements, which will permit the business to keep working, offering significant types of assistance to our clients without interference and keeping up our long-standing associations with our sellers and colleagues," Robert Schriesheim, the Chairman of the Finance Committee
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