FTR - Frontier Communications - The Long Journey Into The Insolvency Zone
Situation Analysis
The New Board Brings Unneeded Entanglements
The independent directors that now make up Frontier Communication's board - and their compatriots at restructuring boutique M-III Partners - are currently involvement in perhaps a dozen other large bankruptcy cases simultaneously. Many of these restructurings involve competing interests that are not fully disclosed; they involve bondholders that straddle multiple cases, overlapping financial advisers and legal teams with potential conflicts. Others involve deeply distressed companies on the verge of bankruptcy - and like the situation here - those boards and their legal teams are strongly considering filing