Bankruptcy Archives - Submarine Telecoms Forum

GCX to Emerge From Chapter 11 Bankruptcy

GCX to Emerge From Chapter 11 Bankruptcy After Rescue Plan By Antony Savvas, Data Economy November 11, 2019 The company has shelved any separate sale of the company, with its largest secured lenders instead taking over the reins while also lending further. Bankrupt Global Cloud Xchange (GCX) has announced that “after completing the initial phase [...]

Kieran Clark2019-11-12T14:32:33-05:00November 12th, 2019|Categories: State of the Industry|Tags: Bankruptcy, Bill Barney, GCX, Global Cloud Xchange, Reliance|

RCom’s Subsea Division, GCX, Files for Bankruptcy

RCom’s Subsea Division, GCX, Files for Bankruptcy By Chris Kelly, Total Telecom September 16, 2019 The move comes as GCX missed repayments on $350m bonds GCX Ltd, the subsea cabling subsidiary of Anil Ambani’s Reliance Communications (RCom) conglomerate, has announced that it is to file for bankruptcy. The move comes after GCX missed payments of [...]

Kieran Clark2019-09-16T11:03:26-04:00September 16th, 2019|Categories: State of the Industry|Tags: Anil Ambani, Bankruptcy, GCX, Global Cloud Xchange, RCOM, Reliance, Reliance Communications, Subsea|