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Wave2Wave Communications' case converted to Chapter 7 after asset sale
By Lisa Kerner
Charlotte, N.C., Nov. 13 - Wave2Wave Communications, Inc.'s bankruptcy case was transferred to Chapter 7 from Chapter 11 by the U.S. Bankruptcy Court for the District of New Jersey on Tuesday, according to an attorney familiar with the case.
The company requested the transfer following the sale of substantially all of its assets on Sept. 28.
As previously reported, Wave2Wave requested the transfer in large part because it could not raise the capital necessary to confirm a plan of reorganization.
Wave2Wave is a Hackensack, N.J.-based provider of high-speed broadband services. It filed for bankruptcy Feb. 17, 2012 under Chapter 11 case number 12-13896.
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